ISTANBUL: In a significant development, Turkish President Recep Tayyip Erdogan announced on Wednesday a two-month extension of an UN-backed agreement that allows Ukraine to ship grain across the Black Sea to global markets. The extension comes just one day before the existing deal was set to expire.
President Erdogan expressed his gratitude to Russian President Vladimir Putin, Ukrainian counterpart Volodymyr Zelensky, and UN Secretary-General Antonio Guterres for their contributions in extending the agreement.
He emphasized the collaborative efforts of Turkey, Russia, and Ukraine, highlighting the importance of their support in facilitating the extension.
Under the terms of the agreement, Russia has committed not to block ships from departing two Ukrainian ports. President Erdogan expressed optimism that the extension of the Black Sea grain deal would be mutually beneficial for all parties involved.
Turkey, UN-brokered Grain Deal in July 2022
The original agreement, brokered by Turkey and the United Nations in July 2022, aimed to address the challenges faced by Ukraine’s grain exports following Russia’s invasion of the country.
Russian warships blockaded Ukraine’s Black Sea ports, leading to a surge in food prices in global markets and disproportionately affecting the most vulnerable populations.
The deal created safe corridors for the export of Ukrainian agricultural produce, mitigating the crisis to some extent. However, the agreement has faced periodic threats as Russia and Ukraine struggled to reach consensus on its renewal before expiration deadlines.
It is worth noting that Ukraine was once a major exporter of grain before the Russian invasion. However, tensions arose as Ukraine attempted to increase its agricultural exports by land, leading to conflicts with neighboring European Union countries. Local farmers argued that the lower prices of Ukrainian produce undermined their own market competitiveness.
With the two-month extension of the UN-backed grain deal, Ukraine can continue to ship its grain through the Black Sea, ensuring a steady flow of agricultural exports to global markets.
The extension provides some stability and relief for Ukraine’s agricultural sector, while also fostering cooperation between Turkey, Russia, and Ukraine in resolving critical issues related to trade and security.
