Russia, Ukraine sign landmark deals on grain exports

To allow the shipment of millions of tons of grains required around the world, Russia and Ukraine struck separate agreements with Turkey and the United Nations.

The Washington Post reports that the agreement was reached on Friday.

The agreement aims to help the devastating global food situation by resuming grain exports from Ukraine's Black Sea ports, which have been halted since Russia's invasion.

The UN secretary-general Antonio Guterres and the Turkish defence minister Hulusi Akar signed separate agreements with the Russian minister of defence Sergei Shoigu and the Ukrainian Minister of infrastructure Oleksandr Kubrakov.

Recep Tayyip Erdogan, the president of Turkey, was present at the ceremony.

“Today, there is a beacon on the Black Sea. A beacon of hope, a beacon of possibility, a beacon of relief in a world that needs it more than ever,” Guterres said at the signing ceremony while addressing the Russian and Ukrainian representatives.

"You overcame challenges and put aside differences to open the door for a project that will advance the interests of all."

After five months of hostilities between the two nations, a historic agreement has been reached.

Both nations rank among the top exporters of agricultural goods in the world.

Ukraine is one of the biggest producers of wheat, corn, and sunflower oil in the world, but exports have been blocked as a result of Russia's invasion and naval blockade of its ports.

The deal comes after Russian and Ukrainian military delegates made a tentative agreement last week on a UN plan that would permit Russia to export its grains and fertilizers.

The agreement will allow Ukraine to export 22 million tons of grain and other agricultural products that are now stranded in Black Sea ports as a result of the conflict.

According to Guterres, the "Black Sea Initiative" plan would pave the way for sizable amounts of commercial food exports from three important Black Sea ports in Ukraine: Odessa, Chernomorsk, and Yuzhny.

It would “bring relief for developing countries on the edge of bankruptcy and the most vulnerable people on the edge of famine.”

“It will help stabilise global food prices, which were already at record levels even before the war – a true nightmare for developing countries,” he added.

Low-income economies have been greatly affected by the conflict's domino consequences, which have ranged from high oil prices to surging food prices.

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