Russia -The central bank is in discussions with market players regarding a possible ban. If approved by lawmakers, the ban would only apply to new purchases of crypto assets not to past purchases. Russia has been vocal in its stance against against cryptocurrencies, stating that the asset can be used for money laundering or to finance terrorism. Bank of Russia’s current position is a “complete rejection” of all cryptocurrencies, the report says citing a source close to the bank. https://finance.yahoo.com/news/russian-central-bank-seeks-ban-132133730.html

China's customs authority published new food safety rules in April stipulating all food manufacturing, processing and storage facilities abroad need to be registered by year-end for their goods to access the Chinese market. But detailed procedures explaining how to get the required registration codes were only issued in October, while a website for companies allowed to self-register went online last month.
"We're heading for major disruptions after Jan. 1," said a Beijing-based diplomat from a European country who is assisting food producers with the new measures. https://www.reuters.com/markets/commodities/new-china-import-rules-bring-headaches-food-beverage-makers-2021-12-13/

Ireland - The Coombe Hospital has been the subject of a ransomware cyberattack overnight, the hospital has confirmed. The hospital isolated and locked down its IT services once the attack was discovered “on a precautionary basis” and is working with the HSE to resolve the issue. https://www.independent.ie/news/ransomware-cyberattack-hits-coombe-hospital-it-services-locked-down-as-precaution-41156106.html

Russia and China will develop shared financial structures to enable them to deepen economic ties in a way that foreign states will be unable to influence.
The move appears to be a response to a series of warnings that Western nations could push to disconnect Russia from the Brussels-based SWIFT financial system as a form of sanctions. The payment platform underpins the vast majority of international transactions. Russian President Vladimir Putin and his Chinese counterpart Xi Jinping called for increasing the share of national currencies in mutual settlements and expanding cooperation to provide Russian and Chinese investors with access to stock markets. https://www.rt.com/russia/543258-moscow-china-create-independent-structure/

India- The regulation of private cryptocurrencies has become an area of focus of late, with the central bank warning the government against allowing them even as the latter introduces legislation to regulate cryptos. The serve Bank of India (RBI) has taken a more positive view of CBDCs and is planning to introduce two variants of it. A wholesale account-based one and a retail one. https://www.msn.com/en-in/news/other/rbi-central-board-discusses-cbdc-crypto/ar-AARVvMQ

In a groundbreaking experiment led by Banque de France, financial and technology leaders HSBC and IBM respectively achieved direct ledger interoperability and conducted a host of effective transactions across digital assets and currencies. As part of the trial, cross-border, cross-asset, security-based, cross ledger, foreign exchange, cross-CBDC & digital currency transactions were tested. https://cbdcinsider.com/2021/12/17/hsbc-and-ibm-conduct-successful-cbdc-experiments-on-cross-cloud-environment/

Russia runs the risk of being completely shut out of SWIFT, a major global payment system, the EU has warned amid claims in the West that Moscow is planning a strike on its neighbor. In a resolution adopted by the European Parliament condemning an alleged build-up of Russian troops and hardware on the shared border, Brussels noted that it must be poised to send “a very stark warning that military hostilities will not only be unacceptable, but also come at a high economic and political price.” https://www.rt.com/russia/543532-eu-plan-swift-cut/

Russia is considering imposing a higher tax on wheat exports, based on a formula that links the tax rise to increases in the price of the commodity. Under the formula, the tax will rise if prices reach $375 a ton and again if they hit $400 a ton. Russia could revise the formula for the tax if there is a significant increase in global prices. Russia also plans to set a grain-export quota again in the first half of next year. https://www.bloomberg.com/news/articles/2021-12-19/russia-proposes-to-increase-tax-on-wheat-exports-if-price-rises

European power prices surged to record highs over the past couple of days after France announced the closure of four of its largest nuclear reactors. The crisis is further exacerbated by already very high prices of natural gas and cold temperatures. By the end of the month, most of the continent will endure below average temperatures, further increasing power demand. https://watchers.news/2021/12/20/electricity-prices-europe-record-highs-december-2021/

European member states certified house crickets, yellow mealworms, and grasshoppers as food fit to be sold at supermarkets. The bugs will be sold in frozen, dried, and powdered forms and will be packed with nutrients and low-cost. Earlier this month, the World Economic Forum published two articles explaining how people must get used to eating bugs. Those who can no longer afford meat, such as ham or turkey, and other traditional holiday foods will come to find a new substitute. https://www.zerohedge.com/commodities/food-inflation-grinch-spoils-christmas-cheer

The Belgian Ministry of Defense has confirmed a cyberattack on its networks that involved the Log4j vulnerability. In a statement, the Defense Ministry said it discovered an attack on its computer network with internet access on Thursday. They did not say if it was a ransomware attack but explained that "quarantine measures" were quickly put in place to "contain the infected elements." https://www.zdnet.com/article/belgian-defense-ministry-confirms-cyberattack-through-log4j-exploitation/

Global potash prices are set for an extended rally after the United States imposed sanctions on major supplier Belarus Potash Company (BPC), piling more pressure on farmers and consumers already facing rocketing costs and a global economy navigating rising food inflation. BPC is the export arm of Belaruskali, the world's second largest potash producer. The U.S. black-listed Belaruskali and added BPC to its sanctions list as the West escalated punitive action against Belarus President Alexander Lukashenko. Potash exports are a key foreign currency earner for Minsk. https://finance.yahoo.com/news/potash-importers-brace-prolonged-price-121658780.html

Bakong, developed by Japanese blockchain company Soramitsu, enables Cambodians to use a free mobile app to make payments and transfer money through any bank on the platform, even if they don't have a traditional account with the bank. More than 200,000 previously unbanked Cambodians use a Bakong e-wallet now. Globally, the use of physical cash is falling, and authorities are looking to fend off the growing threat of cryptocurrencies. https://www.reuters.com/markets/rates-bonds/cambodia-aims-hybrid-digital-currency-blockchain-unbanked-2021-12-22/

Syria's wheat production reached its lowest level in 50 years due to a combination of drought, increasing costs, and worsening economic conditions. The decline in agriculture production comes as Syria suffers from famine-like conditions in parts of the country with over 12.4 million people "food insecure" and around 90 percent of the population living in poverty. Besides rising prices, the country suffers from severe food shortages and government-run stores meant to provide subsidised goods are often empty. https://english.alaraby.co.uk/news/syrias-wheat-production-lowest-50-years-un

The UK government urged poultry producers, and anyone keeping birds to follow strict biosecurity protocols and keep birds indoors as the country faces its largest-ever outbreak of avian influenza. All bird keepers, regardless of the number of birds, are legally required to introduce higher biosecurity standards on farms or small holdings. https://www.meatpoultry.com/articles/25952-uk-faces-largest-ever-outbreak-of-bird-flu

Unfavourable dryness in crop-growing areas of South America on Tuesday pushed Chicago Board of Trade corn futures to their highest price since July and soybeans to an August high. Wheat futures also rallied. South American weather was in the spotlight amid concerns about dry weather in southern Brazil, the world's top soybean exporter. https://www.nasdaq.com/articles/grains-corn-soybeans-hit-summertime-highs-on-south-america-crop-worries

European prices for natural gas exceeded $2,150 per 1,000 cubic meters for the first time ever, according to Intercontinental Exchange’s London clearing house. The January futures on the noscript transfer facility hub in the Netherlands traded at $2,150 per 1,000 cubic meters, marking a 27% increase from Monday. Europe has seen an unprecedented growth in energy prices as Germany continues to postpone the launch of the Nord Stream 2 pipeline, citing concerns that it doesn’t meet EU regulations. https://www.rt.com/business/543888-gas-price-europe-record-high/

Prices of household foods, such as flour products and cooking oil, are set to spike in Japan from early next year. The price hikes stem from rising ingredient prices, following a global surge in demand after economic recovery from the coronavirus crisis, as well as from climbing logistics costs. With companies unable to find ways to offset the high costs, some products have already seen prices raised, hitting consumers.
https://www.japantimes.co.jp/news/2021/12/23/business/economy-business/japan-flour-oil-food-inflation/

India - The law relating to issuing of digital currency by the Reserve Bank of India should be framed "quickly" and the Central Bank Digital Currency (CBDC) considered as legal tender. "The government should out rightly ban buying, selling, investing and otherwise dealing in cryptocurrencies by any person resident in India," the resolution demanded. "Cryptocurrencies such as Bitcoin, Ethereum, etc should not be recognised as asset or digital asset because it will indirectly become medium of exchange like currency." https://www.livemint.com/news/india/ban-crypto-transactions-rss-affiliate-swadeshi-jagran-manch-urges-centre-11640524054444.html#box_11640524054444

UK prices for ex-farm bread wheat have reached new levels this month, with the average reaching £276/tonne (€326.34/tonne)for December delivery. This is a price never seen before, at least since January 1990 when electronic records began. But tight global supplies have continued to support wheat prices lately and recent poor weather in Australia potentially hampering their harvest has added to this, particularly for high quality wheat, meaning that bread wheat prices are likely to remain elevated on the back of global concerns. https://www.allaboutfeed.net/market/market-trends/bread-wheat-prices-reach-record-levels-in-uk/

Switzerland - Bank of International Settlements - New CBDC payment system to settle transactions between Euros and Swiss Francs. Jura explores the direct transfer of euro and Swiss franc wholesale central bank digital currencies (wCBDCs) between French and Swiss commercial banks on a single DLT platform operated by a third party. Tokenised asset and foreign exchange trades are settled safely and efficiently using payment versus payment (PvP) and delivery versus payment (DvP) mechanisms. https://www.bis.org/publ/othp44.htm