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UPDATE 1-Italy's Draghi says cereal exports from Ukraine may soon be resumed

·2 min read

(Adds quotes, background)

By Angelo Amante

SCHLOSS ELMAU, Germany, June 28 (Reuters) - Italian Prime Minister Mario Draghi said on Tuesday it may soon be possible for cereal exports to resume from Ukraine, alleviating shortages that are particularly affecting poor countries.

Speaking at the end of a summit of Group of Seven leaders in Germany, Draghi said it was not necessary for mines to be fully cleared from Ukraine's ports and that "there are corridors" in place to potentially allow cargo ships to operate.

A final green light from the Kremlin was required for exports to resume, and this "should come soon," Draghi told reporters.

Draghi said the European Commission had agreed to accelerate a study on how to impose a price cap on imports of Russian gas, something Italy has been pushing for over recent months.

"The Commission's report will be ready in September ... the important thing is that it has a solid base," the former European Central Bank chief said.

Draghi said that despite the knock-on effects of the four-month-old war in Ukraine, including surging energy costs "the euro zone economy is slowing but we don't expect a recession."

In other remarks, he said Indonesia's President Joko Widodo had assured the G7 that Russian President Vladimir Putin would not be present at a meeting of the Group of 20 rich countries in Bali in November.

However, he said it was possible that Putin would address the gathering remotely.

Russia's invasion of Ukraine, which it calls a "special operation," has overshadowed G20 proceedings this year, with several Western countries threatening to boycott the leaders' summit if Putin attends.

Draghi said he expected the applications of Finland and Sweden to join NATO to be approved at a meeting of the alliance later this week. (Reporting by Angelo Amante, Writing by Gavin Jones, Editing by Angus MacSwan)