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Guterres In "Constant Contact" With Black Sea Grain Stakeholders

WHEAT

A spokesperson for UN Secretary General Antonio Guterres has told reporters that Guterres and his team, "remain fully committed," to the Black Sea grain deal and are, "in constant contact with a wide range of stakeholders..."

  • According to Reuters, "Guterres says food, fertilizer exports by Ukraine, Russia play 'indispensable role' in supporting global food security," and the UN chief is, "fully committed to building on the progress already made."
  • The comments come as markets remain pessimistic on the renewal of the Black Sea grain initiative - set to expire on July 17.
  • Ukrainian President Volodymr Zelensky met with Turkish President Recep Erdogan today for discussions which are likely to include extension of the Turkish brokered deal.
  • Kremlin spokesperson Dmitry Peskov said: "We will very closely follow the results of these talks," and didn't rule out a meeting between Erdogan and President Putin in the coming days.
  • The Kremlin has stated that it sees “no grounds for further continuation” of the agreement but analysts have pointed out that Russia has, in the past, played 'brinksmanship' with the initiative while pressing for more favourable conditions for their own exports.
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