London, November 16, 2022

I am disappointed by the unfair and totally unfounded allegations of racism made against Fastmarkets.

Fastmarkets is part of Euromoney Institutional Investor PLC and abides by the global policies of its parent company, which are not dictated in any way by race or nationality, but by the reality of managing compliance within a complex and fast-changing regulatory environment, during a difficult period of geopolitical instability.

Like many global corporations, Euromoney’s policy is to not engage in business with any Russian and Belarusian entities, or with any individuals based in Russia and Belarus. The policy is based on Euromoney’s zero-risk approach to government sanctions. All Euromoney group companies, including Fastmarkets, adhere to this policy.

I would also add that our Global Grain Geneva event has remained open to Russian delegates not based in Russia.

On or around 24 November, it is expected that Fastmarkets will cease to be part of Euromoney. This will provide Fastmarkets with the opportunity, in due course, to review its policies, including as to where it engages in business.

We have long-standing relationships with many customers and other stakeholders in Russia, which we value. We do, therefore, understand and regret the frustrations this policy has caused for any affected customers.

Raju Daswani
CEO
Fastmarkets