BREAKING NEWS

EU sanctions slash Ukraine maize exports to Iran

By REUTERS

FEBRUARY 3, 2012 13:31

KIEV - Ukraine's maize exports to Iran dropped 40 percent in January due to problems collecting payment from Iranian buyers after the European Union tightened sanctions, a leading Ukrainian agricultural consultancy said on Friday.

Ukrainian and European traders said this week they were no longer booking cargoes on Iranian ships to transport grain exports from Ukraine because of difficulties with payments following European Union sanctions.

As news of the drop in maize exports to Iran emerged, Ukraine's farm minister said grain traders were in talks with Iran to save a valuable market. The ex-Soviet republic is a top maize producer and exporter in the Black sea region.

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