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Black Sea Grain Initiative Deadline Extended On Day

WorldEuropeBlack Sea Grain Initiative Deadline Extended On Day

The announcement was made in a note to reportersReleased on Saturday by the Office of the UN Secretary-General’s Spokesman, it emphasized that the initiative “facilitates safe navigation through Ukrainian ports for exports of grain and related foods and fertilizers, including ammonia.” Is.”

Following the invasion of Ukraine by Russian forces in February 2022, the initiative has been one of the few areas in which the Russian and Ukrainian governments have been able to reach agreement. This came in response to a sharp rise in the prices of food and fertilizers around the world: Russia and Ukraine are the main suppliers of these products to world markets, and their ability to export was significantly reduced after the outbreak of hostilities.

Since the signing of the initiative in July 2022, nearly 25 million metric tons of grain and food items have been moved to 45 countries, and the initiative has been credited with helping to calm global food prices, which peaked in March. The peak height was reached in 2022. After the implementation of the initiative, prices began to fall and after a year, had fallen by about 18 percent.

The deal was mediated by the United Nations and the Turkish government, which was thanked for its diplomatic and operational support in the statement: As part of the agreement, a joint coordination center (JCC) was established in Istanbul to oversee the implementation of the initiative.

The note for reporters reaffirmed the UN’s strong commitment to both agreements, and described the Black Sea Grain Initiative, along with the memorandum of understanding on promoting Russian food products and fertilizers in world markets, as “critical to global food security.” important for the world, especially for developing countries”.

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