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Wealthy Russians are pouring money into real estate in Turkey and the United Arab Emirates, seeking a financial haven in the wake of Moscow's invasion of Ukraine and Western sanctions, according to many property companies.

"We sell seven to eight units to Russians every day," said Gul Gul, co-founder of the Golden Sign real estate company in Istanbul. "They buy in cash, they open bank accounts in Turkey or they bring gold."

While Turkey and the UAE have criticised the Russian offensive, Ankara opposes non-U.N. sanctions on Russia and both countries have relatively good ties with Moscow and still operate direct flights, potentially offering routes out for Russians and their cash.

in 1999, the Commodities Futures Trading Commission deregulated futures markets. All of a sudden, bankers could take as large a position in grains as they liked, an opportunity that had, since the Great Depression, only been available to those who actually had something to do with the production of our food

After World War II, the United States was routinely producing a grain surplus, which became an essential element of its Cold War political, economic, and humanitarian strategies -- not to mention the fact that American grain fed millions of hungry people across the world

Futures markets traditionally included two kinds of players. On one side were the farmers, the millers, and the warehousemen, market players who have a real, physical stake in wheat. This group not only includes corn growers in Iowa or wheat farmers in Nebraska, but major multinational corporations like Pizza Hut, Kraft, Nestlé, Sara Lee, Tyson Foods, and McDonald's -- whose New York Stock Exchange shares rise and fall on their ability to bring food to peoples' car windows, doorsteps, and supermarket shelves at competitive prices. These market participants are called "bona fide" hedgers, because they actually need to buy and sell cereals. On the other side is the speculator. The speculator neither produces nor consumes corn or soy or wheat, and wouldn't have a place to put the 20 tons of cereal he might buy at any given moment if ever it were delivered. Speculators make money through traditional market behavior, the arbitrage of buying low and selling high. And the physical stakeholders in grain futures have as a general rule welcomed traditional speculators to their market, for their endless stream of buy and sell orders gives the market its liquidity and provides bona fide hedgers a way to manage risk by allowing them to sell and buy just as they pleased.

The Middle East offers many opportunities for Putin to combine business with pleasure in challenging the United States. Consider its tumultuous strategic environment: a civil war in Syria, a potential civil war in Libya, ongoing political instability in Egypt and Iraq, simmering violence in Yemen, and political uncertainty almost everywhere else. Saudi Arabia and Qatar are deeply engaged in Syria’s war, as are Iran and Hezbollah. Saudi Arabia and Egypt (among others) are frustrated with the United States — the former over Syria and the latter over America’s intervention in its complex politics, where Washington seems to have been on almost every side at one point or another and has consequently alienated almost all sides. Uncertainty about Iran’s intentions further complicates all of this, as does a weakened relationship between the United States and Israel (where Foreign Minister Avigdor Lieberman appears to be one of Putin’s closer personal contacts among foreign officials). Meanwhile, China has surpassed the United States as the largest buyer of Middle East oil even as broader China-Middle East trade soars. Expanded Russian arms sales — or new Russian nuclear power plants — may only further destabilize the region.

Saudi Arabia and Syria are Russia’s principal security concerns in the Middle East; Moscow’s pre-eminent security interest is in minimizing its own domestic terrorism problem, which means supporting a strong Syrian government that can crack down on extremists and discouraging Saudi and other financial support, whether official or otherwise, for al-Qaeda-connected opposition groups in Syria and extremists in the former Soviet Union. Russia has long viewed Saudi Arabia and Qatar as key sources of support for Chechen militia groups and two Russian operatives were convicted in Qatar in 2004 for assassinating former Chechen leader Zelimkhan Yandarbiev to cut short his fund-raising activity there.

The Kremlin’s position as a veto-wielding permanent member of the United Nations Security Council, and its resulting place at the table in the P5+1 process, have been an enduring source of international visibility and influence only recently surpassed by Russia’s Syria role. Moscow also appreciates Iran’s restraint in the former Soviet region and, as a result, sees it as a valuable partner in managing Saudi Arabia. Fundamentally, however, some Russian officials have a conflicted attitude toward Iran, in that they welcome diplomacy as an alternative to US-led war or regime change, but are not especially eager for a US-Iran rapprochement that could undermine Tehran’s interest in their relationship.

Egypt's currency market reforms are inflicting a heavy toll on many private sector wheat traders struggling to secure shipments for the world's largest wheat importer.

Egypt imports over 10 million tonnes of wheat annually, mostly by the state. State grain buyer GASC told Reuters it had no payment delays as a result of the new regulation. But the private sector, responsible for about 4.5 million tonnes of imports, is hurting. "The bank lets you deposit $50,000 per month. Most of my shipments are worth $700,000. So I'm supposed to wait 14 months to pay my supplier?" asked a trader at a small wheat importer.

The currency reforms are part of Egypt's broader efforts to project an investment-friendly image ahead of an economic summit this weekend in Sharm el-Sheikh.

Russia and Ukraine supply almost a third of the world’s wheat exports and since the Russian assault on its neighbour, ports on the Black Sea have come to a virtual standstill. As a result, wheat prices have soared to record highs, overtaking levels seen during the food crisis of 2007-08.

agricultural experts and policymakers have warned of the impact of delayed shipments on countries reliant on the region for wheat, grain, sunflower oil and barley

The surge in prices will fuel soaring food inflation — already at a seven-year high of 7.8 per cent in January — and the biggest impact will be on the food security of poorer grain importers, warned analysts and food aid organisations