Free Trial

Russia Foreign Min-Only Full Implementation Can Save Grain Deal

WHEAT

Wires carrying comments from Russian Foreign Ministry spox Maria Zakharova regarding the Black Sea Grain Initiative. States that the current implementation is 'Not satisfactory, only the full implementation can save the Black Sea grain deal', adding that it 'Is not a buffet you can pick and choose from'. Says that the 'UN's efforts along are not enough' and that a 'decision will be based on the outcome of work by different gov't agencies'.

  • Russia has taken a vocal and consistent line in recent days regarding the deal, arguing that Western sanctions on Russia's payments, logistics and insurance sectors are hindering its operation. The deal is due to expire on 18 May with its rollover automatic unless a participant raises an objection, something that Moscow has hinted that it would be willing to do.
  • While Russia cries foul over the deal, Ukraine claims that Russia has refused to coordinate the movement of four Ukrainian grain ships in the Black Sea. Ukraine and Russian officials must both agree to specified routes through the Black Sea for ships to take in order for their transit to be approved.

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.