President Vladimir Putin said this month that Russia was considering withdrawing from the Black Sea grain deal as he accused the West of cheating Moscow because it still faced obstacles getting its own agricultural goods to world markets.THE PACKAGE DEAL
To convince Russia to agree to the initiative, a three-year pact was also struck last July in which the United Nations agreed to help Moscow overcome any obstacles to its own food and fertiliser shipments. Between 2018–2020, Africa imported US$3.7 billion in wheat from Russia and another US$1.4 billion from Ukraine , according to the United Nations.
Putin said Russia only agreed to the deal for the sake of countries in Africa and Latin America but that only around 3.2-3.4 per cent of the grain goes to the world's poorest countries while 40 per cent went to prosperous countries. As a workaround, UN officials got US bank JPMorgan Chase & Co JPM.N to start processing some Russian grain export payments with reassurances from the U.S. government.
Until the ammonia pipeline is restarted, Moscow has said it will limit the number of vessels allowed to travel to Pivdennyi port under the Black Sea grain deal. US data shows no ships have visited Pivdennyi port for more than a month.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Explainer-What is Hong Kong's new dual HKD/RMB share counter?HONG KONG : The Hong Kong stock exchange will start offering yuan-denominated Chinese stocks from Monday in what it calls a dual counter, a scheme that is seen as part of China's efforts to increase the yuan's use overseas.The exchange will initially target the offerings at investors holding offshore yuan
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Explainer-How MOVEit breach shows hackers' interest in corporate file transfer toolsRansom-seeking hackers have increasingly turned a greedy eye toward the world of managed file transfer (MFT) software, plundering the sensitive data being exchanged between organizations and their partners in a bid to win big payouts.Governments and companies globally are scrambling to deal with the conse
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Greece scours sea for survivors of 'horrific' migrant boat sinkingKALAMATA: Greek rescuers on Thursday (Jun 15) scoured the Ionian Sea for survivors a day after a fishing boat overloaded with migrants capsized and sank, killing at least 78 people, with fears that the t
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Multiple SEA Games table tennis medallist Lin Ye bows out due to back injury - Singapore News“Although my back injury has forced me to retire, I am filled with gratitude for the incredible journey I have had as a national player... Thank you, Singapore, I am forever grateful,” she said
Source: IndependentSG - 🏆 9. / 63 Read more »
Nato war games in Germany aimed at deterring RussiaThe Air Defender 2023 exercise involves 250 fighter jets from 23 Nato member states. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
England teams to wear black armbands to honour Nottingham victimsEngland's men's and women's players will wear black armbands on day one of tests against Australia this month as a tribute to victims of a stabbing and van attack in the English city of Nottingham, the country's cricket board (ECB) said on Thursday. A minute's silence will be observed before the men's ope
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »