Russian Grain Exporter to Sell Ukraine Terminal

Posted by Michelle Howard
Wednesday, August 06, 2014

Yug Rusi, a Russian grain exporter and sunflower oil producer, is seeking to sell its terminal at Ukraine's Kherson port, two traders told Reuters.

The privately held company, whose name means South of Russia, declined to comment.

One source said that the terminal is a small one that can load vessels with up to 10,000 tonnes of vegetable oil or up to 15,000 tonnes of grain.

Russian companies are expected to try and exit Ukrainian investments as relations between the countries have become increasingly strained after Russia annexed Crimea from Ukraine in March.

"It does not look good for the time being, being Russian and having assets in Ukraine," one of the sources said.

The sources said it would be difficult for Yug Rusi to complete a sale given the uncertainty facing businesses with operations in Ukraine as political tensions worsen.

Last week the European Union and the United States announced further sanctions against Russia, targeting its energy, banking and defence sectors in the strongest international action yet over Moscow's support for rebels in eastern Ukraine.

(Reporting by Sarah McFarlane and Polina Devitt; editing by Jane Baird)

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