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Black Sea grain deal that reopened key Ukraine ports set to expire in July: All you need to know

Moneycontrol News | July 11, 2023 / 18:09 IST
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An international agreement allowing Ukraine's grain imports by sea will expire in July after being extended three times since it was signed on July 22, 2022. Russia's foreign ministry has now stated that there are "no grounds" to continue the accord, which might jeopardise world food security. The Black Sea Grain Initiative has allowed 32.75 million tonnes of crops to reach global markets. (Image: NW18 Creative)
An international agreement allowing Ukraine's grain imports by sea will expire in July after being extended three times since it was signed on July 22, 2022. Russia's foreign ministry has now stated that there are "no grounds" to continue the accord, which might jeopardise world food security. The Black Sea Grain Initiative has allowed 32.75 million tonnes of crops to reach global markets. (Image: NW18 Creative)
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The Initiative on the Safe Transportation of Grain and Foodstuffs from Ukrainian Ports, also known as the Black Sea Grain Initiative, is an agreement reached between Russia and Ukraine in 2022 with Turkey and the United Nations (UN) to open a safe maritime humanitarian corridor in the Black Sea to transport grains from Ukrainian ports. (Image: NW18 Creative)
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Russia has threatened to withdraw from the agreement, which is set to expire on July 17, because various demands to ship its grain and fertiliser have yet to be addressed. The last three ships travelling under the agreement are loading cargo in the Ukrainian port of Odesa and are scheduled to leave on July 17. (Image: NW18 Creative)
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Each country signed separate "mirror" agreements with Turkey and the UN. It does not constitute a direct agreement between Russia and Ukraine. (Image: NW18 Creative)
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Russia briefly suspends grain shipments, causing global food prices to rise and lower-income countries to face starvation. To address the issue, Turkey (which controls the Black Sea marine lanes) holds UN-sponsored meetings. (Image: NW18 Creative)
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First published: Jul 11, 2023 06:09 pm

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