Ukrainian Black Sea Grain Deal Extended Two Months
On May 18, the Black Sea Grain Initiative signed on July 22, 2022 in Istanbul between Ukraine, Turkey, and the United Nations (UN), was extended until July 18, 2023. The initiative has allowed for the safe export of grain and foodstuffs from Ukraine. Under this agreement, Russia also got the opportunity to export its agricultural products.
The United Nations and Turkey brokered the Black Sea deal for an initial 120 days in July last year to help tackle a global food crisis that has been aggravated by Moscow’s invasion of Ukraine, one of the world’s leading grain exporters.
Moscow had initially appeared unwilling to extend the pact unless a list of demands regarding its own agricultural exports was met.
“This is a chance to help ensure global food security, not in words, but in deeds. First and foremost, to help the countries most in need,” Russia’s foreign ministry said, confirming the extension.
“Our principled assessment of the Istanbul agreements of July 22, 2022, has not changed and the distortions in their implementation should be corrected as soon as possible.”
While Russian exports of food and fertilizer are not subject to Western sanctions imposed following the February 2022 invasion of Ukraine, Moscow says restrictions on payments, logistics and insurance have amounted to a barrier to shipments.