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Black Sea grain deal gets two-month extension

The Ukraine Black Sea grain deal has been extended for two more months. Turkish President Tayyip Erdogan first announced the extension on social media, which was later confirmed by Russia, Ukraine and the UN.

UN Secretary-General Antonio Guterres has welcomed the extension, which came a day before Russia could have quit the pact that allows Ukrainian grain shipments from its ports over obstacles to its grain and fertiliser exports.

“I welcome the confirmation by the Russian Federation to continue its participation in the Black Sea Initiative for another 60 days. Even in the darkest hours, there is always a beacon of hope and an opportunity to find solutions that benefit everyone,” Guterres said.

Earlier on Wednesday, before the extension was announced, the last remaining ship registered to travel through the corridor had left Ukraine – the DSM Capella carrying 30,000 tonnes of corn to Turkey.

The deal brokered by the UN and Turkey was first agreed last July and has been renewed several times since then. Russia briefly withdrew from the deal in November last year, only to rejoin a few days later.

Nearly 30.3m tonnes of grain and foodstuffs have been exported from Ukraine under the Black Sea Grain Initiative.

The United Nations Conference on Trade and Development (UNCTAD) said that over the last year, the agreements have helped stabilise markets and reduce volatility, noting that global food prices have fallen by 20% from the all-time high reached in March 2022.

“Looking ahead, we hope that exports of food and fertilizers, including ammonia, from the Russian Federation and Ukraine will be able to reach global supply chains safely and predictably – as foreseen in both the Black Sea Initiative and the memorandum of understanding on Russian food and fertilizer exports – the implementation of which the United Nations is fully committed to support,” Guterres added.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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