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Turkey and UN to Look for Ways to Salvage Ukraine Grain Corridor

TURKEY
  • Turkey and the UN are looking for ways to salvage the Ukrainian grain export initiative after Moscow said it would pull out indefinitely following an attack on its Black Sea naval fleet, Bloomberg report. In a statement posted on Twitter, Turkey said Defense Minister Akar was speaking with counterparts, reminding them that the export initiative is “for the good of the entire humanity and that crises can be solved through goodwill and dialogue.”
  • Russian Foreign Minister Rudenko didn’t explicitly rule out a return to the grain deal when questioned by journalists on Sunday, and said Russia expects to be in contact with the UN and Turkey soon. However, his comments indicated that next steps would only be carried out after a full investigation into Saturday’s drone attack, with no mention of who would conduct such a probe.
  • Elsewhere, President Erdogan unveiled Turkey’s first domestically produced electric vehicle at a ceremony on Sunday. But opposition parties have slammed what they argue is the project’s overtly political nature, Bloomberg report. Leaders such as CHP’s Kilicdaroglu and IYI Party’s Aksener declined to attend the ceremony. “The Togg Project has become a political show,” said a CHP Spokesperson.
  • The data docket is light with no major releases today. Later this week, manufacturing PMIs and CPI data will take focus.
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