Free Trial

Russia And Ukraine Clash On Extension To Black Sea Grain Deal

WHEAT

Ukrainian Prime Minister Denys Shmyhal has insisted that the Black Sea grain deal be extended for the full 120-days as negotiations continue on extending the deal which is due to expire on Saturday, according to Reuters.

  • Kremlin spokesperson Dmitri Peskov told reporters today: "Russia is renewing the deal for 60 days."
  • Reuters reports that both Ukraine and Turkey have stated today that the deal, "must be rolled over in full under the existing terms, including the 120-day duration."
  • Alessandra Vellucci, director of the UN Information Service, said negotiations will continue today: "The agreement foresees the renewal of 120 days. There are discussions ongoing and we're not going to speculate on what is going to happen. This is for the discussions’ outcome."
  • An extension of the grain deal, which also allows Russian agricultural products and fertiliser to reach markets, is seen as crucial to preventing famine in vulnerable African countries.
  • David Beasley, head of the World Food Program (WFP) said today that the grain flows under the deal were still falling well short of the needs of poorer countries.

To read the full story

Close

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.