After an attack with illuminations targeting its ships in the Crimea, Russia terminated the agreement on grain exports of the crucial Ukrainian ports of the global food supply on Saturday and accepted responsibility for Ukraine and Britain.
In recent weeks, Russian President Vladimir Putin has increased his criticism of the accord, pointing out that the sanctions had an impact on the country’s exports of grains, which are a major export.
The deal on grain exports from Ukrainian ports is discussed in Russia, which warns that while ships are still leaving Ukraine, it will be “hazardous” and “difficult” to carry out the agreement without Moscow.
Observers believe that Russia’s decision to leave the accord will probably have a negative impact on supplies to import-dependent nations, which might intensify the global food crisis and raise prices.
Due to concerns about supply, wheat futures in Chicago surged by more than 5%, while the price of the atom increased by more than 2%.
Mark Viceno, the French Minister of Agriculture, stated that his nation is looking to build land routes through Poland or Romania to facilitate the transport of food from Ukraine in the event that the Black Sea Road becomes impassable due to the Russian pullout.
Analysts predict a rise in wheat futures prices as a result of the drought in Argentina and torrential rains in eastern Australia, as well as Russia’s withdrawal from the Black Sea Transmission Agreement, which puts Ukrainian exports in jeopardy and raises concerns about the upcoming harvest seasons in the southern hemisphere’s exporting wheat nations.
For its part, the UN called for the preservation of the grain export agreement. The Secretary-spokesman, General’s Stephen Dujarric, stated, “It is crucial that all parties refrain from any work that would put the grain agreement in the Black Sea at risk,” highlighting the “positive impact” that this agreement has on securing food for millions of people around the world.
Kyiv Moscow also demanded “According to its Foreign Minister, Dmitro Colliba, “Moscow is using a bogus pretext to stop the grain corridor that ensures the food security of millions of people in violation of its commitments” under the deal. I appeal to all nations to ask Russia to cease using the hunger card “.
Russian officials issue a warning against the export of Ukrainian pharmaceuticals.
About Author
