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11:38 19 Mar 2023

UN confirms extension of Black Sea Grain Initiative

The Black Sea Grain Initiative referring to the export of Ukrainian grain to many countries was extended.

The press service of the United Nations reports this.

The organization stresses that the initiative allows for the safe export of grain, food products, and fertilizers from designated Ukrainian seaports, including ammonia.

" During the first two terms, some 25 million metric tonnes of grain and foodstuffs have been moved to 45 countrieshelping to bring down global food prices and stabilizing the markets.," the UN emphasizes.

The organization does not specify the agreement's period of extension.

However, the day before, the Ukrainian side announced extending the agreement for another 120 days, while the russian side articulated 60 days.

Ms. Bridget Brink, the US ambassador to Ukraine, also named the number of 120 days.

For reference:

It should be noted that Ukraine signed the Agreement on the safe export of grain through the Black Sea with Türkiye and the UN in July 2022.

russia signed a mirror agreement with the UN and Türkiye. Ukraine and the russian federation did not sign agreements between themselves. The term of the agreement was set for 120 days from the date of signing, and it was subsequently extended.

The last extended term of the agreement was to expire on March 18.

russia stated that it was not against the extension of the "grain agreement" but only for 60 days. The Ukrainian side replied that this proposal contradicts the agreement itself.

It should be noted that Ukraine is a major global producer and exporter of grain. The country's exports suffered from the full-scale invasion of russia in 2022, which other countries felt.

On November 26, President Volodymyr Zelensky announced the start of the Grain from Ukraine program. Its goal will be to provide grain to the poor countries of Asia and Africa.

Category:
Economics

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