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Blinken Says Russia Is Weaponising Food, Grain Deal Hangs In Balance
US Secretary of State Antony Blinken has accused Russia of "using food as a weapon," by threatening to terminate the Black Sea grain initiative. In comments to press at the US-ASEAN summit in Jakarta, Blinken said that Russian Foreign Minister Sergei Lavrov said nothing at the ASEAN summit which, "suggested any change of direction on Ukraine."
- Blinken: "Russia once again using food as weapon in threatening to end Black Sea grain initiative... everyone's expectation that Russia extend and expand grain initiative."
- The Black Sea deal is set to expire on Monday with the UN and Turkey reporting they open to exploring "all solutions" to extend the deal.
- Reuters: "U.N. Secretary-General Antonio Guterres proposed in a letter to Russian President Vladimir Putin on Tuesday that Moscow allow the Black Sea grain deal to continue for several months to give the EU time to connect a Rosselkhozbank subsidiary to SWIFT."
- Politicoreports that, with markets pricing in a collapse of the deal, Ukriane is preparing a "plan B" which could include a state-backed insurance scheme for ships or an alternate export hub based in Romania.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.