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Free AccessRussian Delegation In Istanbul For Talks w/Ukraine On Grain Exports
Russia's state-run RIA Novisti reporting that the Russian military delegation has arrived in Istanbul ahead of the talks with Ukraine, the UN, and Turkey on establishing some form of 'grain corridor' to allow for exports to resume to ease global food security concerns.
- The New York Times is reporting that some officials are describing the prospect of Russia and Ukraine coming to an agreement on the export of grain as 'Mission Impossible'.
- One of the major sticking points is that Russia is demanding it alone carries out at-sea checks on cargo to make sure there is only grain going out and no weapons coming in on the ships. Turkey has proposed a compromise that its officials carry out checks, but so far Russia has not accepted this.
- The issue of grain exports is only set to worsen without some deal being made. At present stores in Ukraine are at capacity, meaning there will be nowhere for this year's (admittedly reduced) harvest to go.
- With areas of north Africa and the Middle East heavily reliant on Ukrainian grain, there is the notable prospect of famine and escalating political risk across the region should the grain remain in Ukrainian silos.
- Talks also seen as important ahead of the upcoming meeting between Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan in Tehran on 19 July.
To read the full story
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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.