Hope around global food crisis after Russia, Ukraine sign grain export deal
The deal will free up millions of tons of grain blockaded since Russia’s invasion of Ukraine.
- Russia
- Turkey
- Ukraine
- Food prices
- Food crisis
- Wheat
- Fertiliser
- Cooking oil
- Russian invasion of Ukraine
- Wheat export
- Grain
Russia and Ukraine have signed what is being called a landmark deal to resume grain shipments.
The deal, signed in Turkey, will allow Ukraine to once again export grain through Black Sea ports.
The two sides signed “mirror deals”, after Ukraine refused to sign a direct deal with Moscow.
Since Russia invaded the country it has blocked millions of tons of grain from reaching the rest of the world, sparking fears of a global food crisis.
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Ukraine is one of the largest grain exporters in the world and the blockade has resulted in price hikes for related products like bread and pasta.
The deal follows two months of what President Volodymyr Zelensky has said were complex negotiations with Russia.
RELATED: Russia blocks Ukraine from exporting grain to desperate countries
It will remain in force for four months with the option of renewal if both countries agree.
A memorandum of understanding signed with the United Nations also commits Russia to facilitate unimpeded access to global markets for Russian fertiliser and other products, reports Al Jazeera.
For more detail, read the BBC report here.
This article first appeared on CapeTalk : Hope around global food crisis after Russia, Ukraine sign grain export deal
