Economy

Title: Russian Foreign Ministry: No Reason to Renew Grain Agreement

Title: Russian Foreign Ministry: No Reason to Renew Grain Agreement

The Russian Foreign Ministry stated today, Tuesday, that Russia sees no reason to renew the grain agreement in the Black Sea. The ministry mentioned that "Russia is doing everything it can for all ships included in the agreement to leave the Black Sea before the agreement's expiration on July 17." It added that the Black Sea initiative delivered Ukrainian grain to countries "that have enough food," but it failed to assist those in dire need in Africa, Asia, and Latin America. It explained that the five poorest countries—Ethiopia, Yemen, Afghanistan, Sudan, and Somalia—received only 2.6 percent of the shipped grain, while "the situation continued to deteriorate" concerning Russian grain and fertilizer exports. The statement concluded, "Under these circumstances, it is clear that there are no reasons to continue the 'Black Sea Initiative' that ends on July 17." Additionally, Foreign Ministry spokesperson Maria Zakharova described a proposal made by the European Union to establish a specific branch of the Russian bank acceptable under the SWIFT system as "impractical."

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