![]() ![]() The grain pact allowed the export of commercial food and fertilizer supplies, including ammonia, from the three Ukrainian ports on the Black Sea.Ĭargo ships proceed through the agreed humanitarian corridor to Istanbul, one of the busiest ports of Turkey, whose administration under President Recep Tayyip Erdogan has been deeply immersed in the negotiations.įollowing the announcement, Erdogan on Monday expressed his belief that his Kremlin counterpart Putin wants to continue the Black Sea Grain Initiative, hailing the agreement as a diplomatic success, according to a Google translation of comments reported by Turkish state news agency Anadolu on Telegram. "Shipments have been falling steadily this year," he added. Gallen, said that Russia's announcement is the "coup de grace on a deal that was on its last legs." Simon Evenett, a professor of international trade and economic development at the University of St. The knock-on effect of this is it could prompt them to plant less next season, placing further pressure on supplies going forward," said Carlos Mera, head of the agri commodities markets at Rabobank, in emailed comments. This will significantly drive up transportation costs and pile further pressure on Ukrainian farmers' profits. "Ukraine will now be forced to export most of its grains and oilseeds through its land borders and Danube ports. ![]() Wheat prices jumped 3.5% as the news broke. They said that they are ready, if Ukraine will let go, and Turkey will pass, then everyone is ready to continue supply of grain," Nykyforov added. We were reached by companies that own ships. Ukrainian President Volodymr Zelenskyy said Kyiv was ready to work with Turkey and the United Nations to continue the deal, according to press secretary Serhiy Nykyforov. "EU is working to ensure food security for the world's vulnerable." "I strongly condemn Russia's cynical move to terminate the Black Sea Grain Initiative, despite UN & Türkiye's efforts," European Commission President Ursula von der Leyen said on Twitter on Monday. The European Union also condemned the Kremlin's withdrawal from the agreement. And all Member States must come together and urge Russia to reverse its decision resume negotiations extend, expand and fully implement this initiative." The bottom line is this: The world needs the Black Sea Grain Initiative. "This is what it looks like when one country decides to hold humanity hostage. "This is really another act of cruelty," she added. "Russia has dealt another blow to the world's most vulnerable," Thomas-Greenfield said in brief remarks ahead of a meeting of the U.N. Ambassador to the United Nations Linda Thomas-Greenfield slammed Russia for exiting the landmark agricultural agreement. The agreement also oversaw the transport of 725,167 tons of wheat to sail on World Food Program ships to some of the world's most food insecure countries, such as Afghanistan, Ethiopia, Somalia, Sudan and Yemen. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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