Black Sea grain deal to expire Monday on Russia suspension

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UNITED NATIONS: A pact that has allowed the safe Black Sea export of grain from Ukraine for the past year will expire at the end of Monday (Jul 17) after Russia said it will suspend its participation. The

"As soon as the Russian part of the agreements is fulfilled, the Russian side will return to the implementation of this deal, immediately," Peskov added.

Denys Marchuk, deputy head of the Ukrainian Agrarian Council, the main agribusiness organisation in Ukraine, said alternative routes such as river ports were more expensive to use in terms of transportation costs."As an option, why don't we assess the possibility of the continuation of the grain deal without Russia? We had experience of this already in November 2022," he added.

"I think there is market belief that Russia and the EU have large supplies of wheat which can meet world demand in the coming months, with harvests arriving," he added.

 

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