Updated: Aug 28, 2022
By Ritvik Vanukuru
Already hit with severe sanctions, Russia has to deal with an additional issue of their departmental stores running out of groceries. They have now reached out to Indian retailers for urgent export of supplies since the EU has stopped supplying Russia for the past two months. The list of items includes groceries, spices, and other foodstuffs.
Russia has urged Indian agro and processing manufacturers to set up a joint industrial park in "Lotos" (SEZ in Astrakhan, South Russia) for production purposes, thereby reducing the dependency on exports. An alternate payment mechanism is also being worked out as Russian banks have been banned from the SWIFT system.
The Russian embassy has shared the list of supplies with the federation of Indian export organizations(FIEO) for the same.