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First with the News

Global Food Crisis Looms As Russia Ends Black Sea Grain Initiative

July 17, 2023
in Economy, Top Stories
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Global Food Crisis Looms As Russia Ends Black Sea Grain Initiative
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By John Ikani

Russia has announced that it is ending its participation in an agreement that had allowed Ukraine to export its grain by sea.

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The agreement, known as the Black Sea Grain Initiative, was brokered by the United Nations and Turkey last July.

It had been renewed several times with the latest renewal set to expire on Monday.

Russia has repeatedly complained about the agreement, which it considers one-sided in Ukraine’s favor.

The country has also argued that Western sanctions have restricted the sale of its own agricultural products.

The United Nations secretary general, António Guterres, had last week sent a letter containing proposals for Russian President Vladimir Putin in an effort to meet Russia’s conditions for extending the deal.

However, it is unclear whether Russia will agree to rejoin the agreement.

The decision by Russia to pause its participation in the agreement is a blow to efforts to keep global food prices stable.

Ukraine is a major producer of grain and other foodstuffs, and the United Nations has warned that some countries in the Middle East and Africa faced famine if Kyiv could not export its goods via the Black Sea.

Tags: António GuterresbreakingHeritageheritage timesheritagetimesmediahtlatestnewsRussiathe heritage timesthehtafricathtthtafricatop storiesUkraine
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