On Monday, Russia announced its decision to suspend its involvement in an agreement enabling the export of Ukrainian grain. The move has reignited concerns about global food supplies and undermined a rare diplomatic achievement arising from Moscow’s conflict in Ukraine.
The agreement, which was mediated by Turkey and the United Nations in July 2022, was scheduled to expire officially at 5 p.m. ET on Monday.
According to Dmitry Peskov, spokesperson for the Kremlin, Russia has no plans to renew the pact.
Russia has consistently voiced its grievances regarding limitations on its own food exports. The deal allowed Ukraine to ship grain via sea, bypassing Russia’s blockade of its Black Sea ports, and providing a secure route through the waterway to Turkey’s Bosphorus Strait, enabling access to global markets.
This agreement played a critical role in stabilizing global food prices and alleviating the suffering of developing nations reliant on Ukrainian exports. The immediate and severe impact of the war on the global food markets was particularly alarming due to Ukraine’s significant role as a major supplier of grain to the World Food Programme (WFP).
News by Breaking911
