"Open And Detailed" Grain Corridor Extension Talks Conclude

Reuters reporting that talks in Geneva between United Nations officials and a Russian delegation led by Russian Deputy Foreign Minister Sergei Vershinin have concluded after "open and detailed discussions."

• RIA reports that, "Russia is not against the extension of the Black Sea Grain deal but only for 60 days."
• The UN and Turkey brokered grain initiative will expire on March 18 unless Russia agrees to an extension.
• Moscow previously indicated that it would only agree to an extension if barriers to its grain and fertiliser exports are lifted.
• Although Russian agricultural products are not subject to Western sanctions, Russia argues that sanctions on payments, insurance, and logistics hinder exports.
• Reuters reported this morning that talks, "were initially scheduled to last just one day but could be extended as needed."
• Commodities trader Matt Ammermann: "Russia and Ukraine will probably not get all that they want, but I think importing countries will have been lobbying behind the scenes to get the shipping agreement extended."
• Reuters notes that, "China is the largest recipient of grain shipped through the corridor."