Russia and Ukraine sign UN-backed deal to resume grain exports via the Black Sea

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Ukraine is one of the world’s top agricultural producers and exporters.

Bulent Kilic | AFP | Getty Images

Russia and Ukraine on Friday signed a U.N.-backed deal to resume exports of Ukrainian grain through the Black Sea.

The agreement, which will be implemented in the next few weeks, was signed in the Turkish city of Istanbul and was brokered by the government in Ankara.

Russian Defense Minister Sergei Shoigu was in attendance along with U.N. Secretary-General Antonio Guterres and Turkish President Recep Tayyip Erdogan. Russian and Ukrainian officials sat at separate tables to sign the documents.

Millions of tons of wheat have been stuck in the war-torn nation. Grain exporters in Ukrainian port cities like Odesa have been unable to export their goods due to the conflict, fueling a global shortage of the commodity and pushing up food prices.

Ukraine is one of the world’s biggest wheat exporters, and Russian forces have been blocking the Black Sea, where the grain silos at key Ukrainian ports are located.

The Bosporus and Dardanelles are the only water routes in or out of the Black Sea. That gives Turkey influence over how Russia’s navy can move.

Bryn Bache | CNBC

The deal is significant for global food supplies, but also as it’s the first major agreement between the two sides since Moscow launched it’s unprovoked onslaught on Feb. 24.

‘Beacon of hope’

While the details of the deal are currently unknown, it was expected to allow Ukrainian vessels to guide ships through mined waters, with a localized truce in place so Russia does not attack. Turkish officials are also expected to inspect the shipments to rule out any weapons smuggling.

International onlookers are cautious on the deal and Russia will be closely watched to make sure it upholds its side of the agreement. Moscow, which blames Ukraine for laying the mines, is also expected to restart its own grain exports in the Black Sea under the agreement.

Turkish President Recep Tayyip Erdogan, right, and U.N. Secretary General, Antonio Guterres, sit as two representatives of Ukraine and Russia delegations check hands during a signing ceremony at Dolmabahce Palace in Istanbul, Turkey, Friday, July 22, 2022.

Khalil Hamra | AP



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