Home / Market Update / Commodities / Putin: The agreement to transport grain across the Black Sea has become meaningless

Putin: The agreement to transport grain across the Black Sea has become meaningless

Russian President Vladimir Putin wrote in an article published early Monday that Russia withdrew from the Black Sea Grain Transport Agreement, which guaranteed the safe export of Ukrainian grain, because the agreement had lost its meaning.

“The continuation of the grain deal … has lost its meaning,” Putin said in the article posted on the Kremlin’s website.

Moscow said its conditions for extending the deal were being ignored, and last week withdrew from the accord that a year ago allowed Ukraine to export grain from its Black Sea ports, despite the war, to alleviate a global food crisis.

However, the main demands that Putin made last week for Russia to return to the agreement did not refer directly to humanitarian purposes.

After withdrawing from the agreement, Russia bombed Ukrainian food export ports almost daily. Sunday’s attack on the southern port of Odessa killed one person and wounded dozens.

Putin, who wrote his article ahead of the second Russia-Africa summit to be held in St. Petersburg on Thursday and Friday, said Russia expects a record harvest this year.

“I want to emphasize that our country is able to replace Ukrainian grain commercially and free of charge, especially since we again expect a record harvest this year,” Putin said.

Russia and the West are increasingly competing for influence in Africa. Although Moscow has so far invested very little there, according to data from the United Nations, it has been waging a diplomatic campaign to win the continent’s support.

During the United Nations vote in March 2022 to condemn Russia’s invasion of Ukraine, 28 African countries voted in favor of the resolution, but 25 countries either abstained or did not vote at all.

“Russia will continue to actively organize supplies of grain, food, fertilizers, etc. to Africa,” Putin wrote.

Check Also

Sterling Rebounds Following Softer US PCE Data

The Pound Sterling bounces back strongly above 1.3400 against the US Dollar after soft US …