An agreement on the export was finally reached in Istanbul of grain from Ukraine which for so long prevented the Russiato prevent the risk of a future food crisis.
According to Reuters, there were two separate agreements with Turkey and the United Nations for the export of grain and agricultural products through the Black Sea.
This happened because, as Agence France-Presse reported, Kyiv refused to directly sign the text of the agreement with Moscow, which signed the same agreement with Ankara and the UN secretary general.
So far, 25 million tons of cereals and grains remain blocked in Ukrainian ports, but from the moment they are channeled to the market, a drop in product prices is expected.
Four-month renewable power
It is noted that the agreement will be valid for four months which will renew automatically. If 20 to 25 tons of grain are currently blocked in the silos of Ukrainian ports, with a transfer rate of 8 tons per month, four months will be enough to transfer all the stocks and empty the silos.
In fact, a memorandum accompanying the agreement and signed by the UN and Russia guarantees that Western sanctions against Moscow will not directly or indirectly affect grain and fertilizers. This provision is a condition sine qua non for the signing of the agreement by Moscow.
Source: News Beast
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