Ukraine Russia Relation: Russia has suspended its part of a U.N.-brokered deal allowing Ukraine to export grain safely from its Black Sea ports, saying it was not going to allow ships to travel.
Ukraine said a dozen ships had sailed Monday after initially reporting that more than 200 vessels, many loaded and ready to travel, were stuck after Russia’s weekend announcement. Later in the day, Russia’s Defense Ministry said ship traffic was suspended, calling the movement “unacceptable” after Moscow alleged a Ukrainian drone attack against its Black Sea fleet.
Such exports are crucial: Ukraine and Russia are key global suppliers of wheat, barley, sunflower oil and other food to countries in Africa, the Middle East and parts of Asia where many are already struggling with hunger.
Here’s what Russia’s coming out of the UN-brokered grain deal could lead to – Food Security and inflation in global food prices
Vital achievement of the deal
This deal was one of the rarest examples of the initiatives between two warring sides – Ukraine and Russia since Russia’s invasion in February. The deal which was brokered by the United Nations and Turkey, has allowed more than 9 million tons of grain in 397 ships to safely leave Ukrainian ports.
The grain agreement has scaled down global food prices by about 15% from its peak in March. The deal would expire on 19th November, and the UN Secretary-General had recommended them to renew the deal before it expires.
With the latest Russian announcement, wheat futures prices escalated by 5% on Monday in Chicago. With stretched global markets, poorer countries will have to shell-out more to import essential food-grains.
Here it is plausible to mention that allegations and counter-allegations have spoiled the unqualified nobility of human hunger priorities. The U.S. and Europe on their part accused Russia of starving vulnerable parts of the world by denying exports, before the deal was brokered. Since the deal, Russian President Vladimir Putin has alleged that most of the exported grain was going to Europe instead of the world’s hungriest nations.
Moscow called an emergency meeting of the U.N. Security Council where the Russian ambassador to UN, Vassily Nebenzia contended that the Black Sea remains an area of hostilities and so they cannot allow an unrestricted passage of vessels without their inspection.”Nebenzia vehemently opposed the unilateral decision of the UN and Turkey to allow free passage of vessels without Russian inspection.
Russian goodwill gesture
Russia has offered to supply up to 500,000 tons of grain “to the poorest countries at no cost in the next four months.” The Russian Defense Ministry announced that Russia as a good ‘Samaritan’ is not withdrawing but suspending the grain agreement.
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And what’s next?
• Developing nations will have to find new suppliers and pay more by importing from countries like US, Argentina and Australia where extreme dry conditions and untimely rains are impeding normal harvesting.
• Big producers like India and Brazil may benefit from the expected inflation.
• Parts of the African continent where prices are expected to remain high will be on close watch.
• The deal between the hostile neighbours ‘Ukraine and Russia’ may continue with joint surveillance under Russia’s nose.
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