{"id":27750,"date":"2022-03-07T12:50:31","date_gmt":"2022-03-07T07:20:31","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-tea-exports-russia\/"},"modified":"2022-03-07T13:07:31","modified_gmt":"2022-03-07T07:37:31","slug":"biz-tea-exports-russia","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-tea-exports-russia\/","title":{"rendered":"Tea exporters expressed concerns about payment issues with Russia"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3140450670\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Tea exporters on Monday expressed concern over how to solve payment issues for their shipments to Russia since the CIS country\u2019s several banks have been blocked to access to a global financial system SWIFT, in the wake of the Russian-Ukraine crisis.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-730924136\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Indian Tea Exporters&#8217; Association (ITEA) chairman Anshuman Kanoria said everything is uncertain and premature in the context of the conflict.<\/p>\n<p>\u201cBut the blocking of access to SWIFT for several Russian banks is worrisome. Russia is the largest importer of Indian tea, followed by Iran, with which there is also a payment problem due to sanctions imposed by the US,\u201d he said.<\/p>\n<p>The US along with its key allies, including the European Union and the UK, had decided to disconnect key sanctioned Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in response to Moscow\u2019s invasion of Ukraine.<\/p><div class=\"trade-content_5\" id=\"trade-1041566326\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>During the last calendar year, Russia imported 34.09 million kilograms of Indian tea, followed by Iran at 26.18 million kilograms, according to Tea Board data.<\/p>\n<p>Besides the payment issues with Russia, tea cargo movement to the country is also a problem as \u201cno delivery is taking place at a Black Sea port and most of the shipping liners are not taking cargo to Russian destinations,\u201d he said.<\/p>\n<p>The Tea Board has already convened a meeting with the exporters to Russia, Kanoria said, adding that the Centre is monitoring the situation very closely. &#8220;We are also in touch with the government&#8221;, he said.<\/p>\n<p>Russian Ruble has weakened against Indian Rupee and US dollar, adding woes to the problem, Kanoria said.<\/p>\n<p>&#8220;The exporting community is hopeful that some solutions will emerge. It is a worrying time for the tea industry due to both payment issues with Russia and Iran,&#8221; he added. PTI DC BDC BDC<\/p>\n<div class=\"trade-after-content\" id=\"trade-4047925454\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Tea exporters on Monday expressed concern over how to solve payment issues for their shipments to Russia since the CIS country\u2019s several banks have been blocked to access to a global financial system SWIFT, in the wake of the Russian-Ukraine crisis. Indian Tea Exporters&#8217; Association (ITEA) chairman Anshuman Kanoria said everything is uncertain and premature [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":27757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31,1789],"tags":[948,936],"class_list":["post-27750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news","category-trending-news","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tea exporters expressed concerns about payment issues with Russia - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-tea-exports-russia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tea exporters expressed concerns about payment issues with Russia\" \/>\n<meta property=\"og:description\" content=\"Tea exporters on Monday expressed concern over how to solve payment issues for their shipments to Russia since the CIS country\u2019s several banks have been blocked to access to a global financial system SWIFT, in the wake of the Russian-Ukraine crisis. 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