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Update: Russia grain export ban

09/02/2010 @ 7:56am

DJ UPDATE:Russia Wont Lift Grain Export Ban Before Next Harvest-Putin

DJ - 5 mins ago

(Adds quotes and details)

MOSCOW (AFP)--Russian Prime Minister Vladimir Putin said Thursday that Russia won't lift its temporary ban on grain exports until after next year's harvest.

"I believe it's necessary to note that we will only be able to consider lifting the grain export ban after the next year's harvest has been reaped," Putin told a government meeting in televised remarks.

A record drought has destroyed a quarter of Russia's harvest this summer and Putin signed a decree in early August introducing a ban on grain exports from Aug. 15 to Dec. 31.

Putin subsequently hinted that the government might extend the embargo into the next year.

(END) Dow Jones Newswires

September 02, 2010 08:46 ET (12:46 GMT)

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