Grain trader bankrupted by export ban
2011-04-07 18:10:36
According to reports from Bloomberg Russian grain trader Rosinteragroservis filed for bankruptcy protection, saying the government's export ban on grains deprived it of revenue. The company, known as Rias, owes 7.2 billion rubles ($253 million) to creditors, according to a filing with the Regional Arbitration Court in Krasnodar. Rias shipped almost 2.3 million metric tons of grain from July 2009 to June 2010, according to the company's web site. The same could happen in Ukraine with domestic companies going bankrupt while the multinational majors can afford to sit and wait.