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ECB Data Watch
Zelenskyy-I Discussed Alternative Grain Export Corridors w/VdL
Wires carrying comments from Ukrainian President Volodymyr Zelenskyy stating that he 'discussed alternative grain export corridors' with European Commission President Ursula von der Leyen. Comes as EU foreign ministers hold a meeting outside of the bloc for the first time by gathering in Kyiv. Following the meeting, Ukrainian Foreign Minister Dmytro Kuleba claimed that a 'Black Sea corridor for Ukrainian grain without Russia is realistic' while calling for EU support to allow any corridor to work 'at full capacity'.
- The Ukrainian navy is maintaining a 'humanitarian corridor' to its Black Sea ports after the collapse of the Black Sea Grain Initiative in July following Russia's withdrawal. Deputy PM Oleksandr Kubrakov stated on 1 October that five more cargo ships are heading for Ukrainian Black Sea ports to resume largely agricultural exports.
- For the EU, assisting Ukraine in exporting via the Black Sea is important in that it may limit the amount of grain coming into the Union via Ukraine's borders with Poland, Slovakia, and Hungary. All three nations are seeking to, or already are, actively limiting the import of Ukrainian grain so as to prop up prices and protect domestic farmers.
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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.