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Russia Okays 2-Month Extension Of Black Sea Grain Deal

  • Writer: By The Financial District
    By The Financial District
  • May 23, 2023
  • 2 min read

Russia agreed to a two-month extension of a deal that has allowed Ukraine to ship grain through the Black Sea to parts of the world struggling with hunger, Turkish President Recep Tayyip Erdogan announced, a boost to global food security after the war drove up prices, Suzan Frazer and Courtney Nonnell reported for the Associated Press (AP).


Photo Insert: Extending the Black Sea Grain Initiative is a win for countries in Africa, the Middle East, and parts of Asia that rely on Ukrainian wheat, barley, vegetable oil, and other affordable food products, especially as drought takes a toll.



Turkey and the UN brokered the breakthrough accord with the warring sides last summer, which came with a separate agreement to facilitate shipments of Russian food and fertilizer that Moscow insists hasn’t been applied.


Russia had threatened to bow out if its concerns were not ironed out by Thursday. Such brinkmanship isn’t new: With a similar extension in the balance in March, Russia unilaterally decided to renew the deal for 60 days instead of the 120 days outlined in the agreement.



Russian Foreign Ministry spokeswoman Maria Zakharova said Wednesday that problems would need to be resolved “at the technical level.” Neither she nor Erdogan mentioned any concessions Moscow may have received.


“We will continue our efforts to ensure that all the conditions of the agreement are fulfilled so that it continues in the next period,” said Erdogan, who announced the highly anticipated decision two days after being forced into a runoff in Turkey’s presidential election.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Extending the Black Sea Grain Initiative is a win for countries in Africa, the Middle East, and parts of Asia that rely on Ukrainian wheat, barley, vegetable oil, and other affordable food products, especially as drought takes a toll.


The deal helped lower prices of food commodities like wheat over the last year, but that relief has not reached kitchen tables.





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