Russia agrees to 60-day extension of Black Sea Grain Initiative
Russia said Monday it will extend the Black Sea Grain Initiative after it expires on March 18, but only for 60 days. The announcement came after consultations between U.N. representatives in Geneva and Russian Deputy Foreign Minister Sergei Vershinin.
"The Russian side, noting the package nature of the Istanbul agreements proposed by UN Secretary General António Guterres, does not object to another extension of the Black Sea initiative after the expiration of the second term on March 18, but only for 60 days," Vershinin said, according to Russian media reports.
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Russia's consultations in Geneva on the grain deal were not easy, Vershinin said. Russia will rely on the effectiveness of the implementation of the agreement on the export of its agricultural products when deciding on a new extension of the grain deal, according to reports.
Ukraine, which is a key world exporter of wheat, barley, sunflower oil and fertilizer, had its shipments blocked in the months following the invasion by Russia, causing a worldwide spike in food prices. The first deal was brokered last July.