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The Russian Federation recently announced the suspension of a UN-brokered grain deal that was administered by Turkey and allowed Ukrainian grains to be exported to global markets.
This decision has caused wheat prices to jump, raising concerns about what it means for Ukraine and other countries in the region.
Here, we’ll explore what Russia’s suspension of the Black Sea Grain Initiative could mean for Ukraine and other nations in the area.
The Black Sea Grain Initiative was an agreement that was implemented in July 2022 between Ukraine and Russia that allowed Ukrainian grains to be exported to global markets.
The agreement had been extended multiple times since its implementation, but on Monday, Russia let it lapse at midnight Istanbul time, meaning it is no longer active.
Dmitry Peskov, a spokesman for President Vladimir Putin, confirmed this news in a statement: “the Black Sea agreements ceased to be valid today.”
Russia has long voiced their objections with regards to Ukraine exporting their foodstuffs safely; they have accused them of placing naval mines in the Black Sea corridor.
According to Peskov “as soon as the Russian part is completed” they will return to implementing this deal immediately – suggesting there’s still hope for negotiations that would address Russia’s concerns.
Furthermore, some speculate that Moscow suspended the grain deal following a recent attack on Crimean Bridge (also known as Kerch Strait Bridge) which reportedly killed two civilians and suspended bridge traffic however, Moscow has downplayed any connection between these two events.
Ultimately this suspension will put much more pressure on Kiev who is already struggling with counteroffensives; many suspect this is likely Russia’s strategic purpose behind suspending this deal.
Secretary of State Antony Blinken went so far as saying Moscow has been using it “as a weapon” while Putin complained about how food exports haven’t been going to countries who need them most (in Africa and Middle East) but instead staying within Europe supplying arms during battlefields – making his point clear he wasn’t happy about it either way.
Maria Zakharova from foreign ministry further alleged assistance from US/UK forces towards Ukrainian government calling them a “state-like terrorist structure”.
While there hasn’t been much response from White House yet over these allegations or any consequences stemming from such accusations remain unclear at best too soon predict anything definitive just yet.
However, one can assume if this is true then the situation could escalate quickly potentially affecting the entire region negatively, particularly those who depend on flow goods through said channels, economically speaking.
