Russia / Ukraine │They renew the grain export agreement

CESCE, Country Risk

Russia will continue to respect the Black Sea corridor that allows the departure of Ukrainian grain for at least two more months.

This is the third time that kyiv and Moscow renew the so-called Initiative of Black Sea. As on previous occasions, the agreement was reached at the last minute. However, on this occasion, the future ukrainian counteroffensive led to fears that Russia would refuse to renew it. Moscow has accepted the conditions of the grain pact that, so far, have allowed the export of more than 30 million tons until May.

However, negotiations between the parties continue to try to satisfy Russian demands: readmit its agricultural bank into the payments system SWIFT; restore the supply of agricultural machinery; lift access restrictions on Russian freighters and remove financial sanctions on Russian fertilizer companies. It is unknown whether Russia has obtained any concessions from Ukraine or the international community represented by the ONU in the agreement negotiations. The truth is that for Ukraine, the renewal of the pact comes at a very appropriate time to release the season's harvest to the countries of northern Africa very affected this year by the drought.

Source: CESCE

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