Russian Federation

Russia: There are no prospects for renewing the Black Sea Grain Initiative

by teleSUR

On Thursday, Deputy Prime Minister Viktoria Abramchenko said that Russia sees no prospects for renewing the Black Sea Grain Initiative.

Part of a package agreement, the second part of the grain initiative, which provides solutions to problems related to maritime logistics, freight, insurance, and connecting the Russian Agricultural Bank to the SWIFT payment system, saw no positive changes, said Abramchenko.

She said that the Russian diplomatic department has continued to work on the grain deal, but there are few prospects for its resumption.

President Vladimir Putin said that the conditions of the deal with Russia were not met, and the main goal of the deal — the supply of grain to needy countries, including African ones — was not achieved.

The Black Sea Grain Initiative is a part of a package agreement, signed by representatives of Russia, Türkiye, Ukraine, and the United Nations on July 22, 2022, allowing food and fertilizer exports from Russia and Ukraine through the Black Sea.

Moscow suspended its participation in the agreement on July 17, 2023, saying that it would return to the deal as soon as the Russian part of the agreement is fulfilled.

The reduction in international trade in agricultural goods as well as the Western blockade of the Russian economy has failed to affect the internal situation of this country.

“Russia is a self-sufficient country in every sense of the word,” Putin said during a meeting with the local residents of Anadyr, the capital of the Chukotka Autonomous Area.

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