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G20: Russia condemned for pulling out of Black Sea Grain Initiative

According to the United Nations, more than 32 million tonnes of food commodities have been exported from three Ukrainian Black Sea ports to 45 countries across three continents in the year in which the initiative was active.

July 18, 2023 / 21:33 IST
The Black Sea Grain Initiative was brokered by the United Nations and Turkiye in July 2022.

The Black Sea Grain Initiative was brokered by the United Nations and Turkiye in July 2022.

Members of the G20 have condemned Russia for pulling out of the Black Sea Grain Initiative, Indian Finance Minister Nirmala Sitharaman said on July 18.

"Several members condemned it, saying this shouldn't have happened," Sitharaman told reporters at the conclusion of the third meeting of Finance Ministers and Central Bank Governors in Gandhinagar.

"Food passing through the Black Sea shouldn't have been stopped or suspended," she added.

On July 17, Russia said that it would be revoking its involvement in the war-time agreement that allowed grain to be moved from Ukraine to Africa and Asia to tackle the food crisis caused by the war, which pushed up prices to eye-watering levels. Russia has said that it will honour the deal after "the part of the Black Sea deal related to Russia is implemented".

After pulling out of the pact on July 17, Russia attacked Ukrainian ports on July 18.

According to the United Nations - which helped broker the Black Sea Grain Initiative along with Turkiye in July 2022 - more than 32 million tonnes of food commodities have been exported from three Ukrainian Black Sea ports to 45 countries across three continents in the last one year, helping a retreat in the price of food prices.

"Ultimately, participation in these agreements is a choice," United Nations Secretary-General António Guterres said on July 17.

"But struggling people everywhere and developing countries don't have a choice. Hundreds of millions of people face hunger and consumers are confronting a global cost-of-living crisis. They will pay the price," Guterres added.

Meanwile, the war between Russia and Ukraine and its characterisation continued to be a stumbling block for the G20, with India once again releasing a Chair Summary and Outcome Document.

"The Chair Summary is because we still don't have a common language on the Russia-Ukraine war," Sitharaman said in Gandhinagar at the Presidency briefing.

In the 26 paragraph-long Chair's Summary released on July 18, G20 members were in agreement on all but three paragraphs, with Russia and China not agreeing to paragraphs two, three, and five.

Siddharth Upasani is a Special Correspondent at Moneycontrol. He has been covering the Indian economy, economic data, and monetary and fiscal policies for nine years. He tweets at @SiddharthUbiWan. Contact: siddharth.upasani@nw18.com
first published: Jul 18, 2023 08:04 pm

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