In a statement on Wednesday, Russia announced that it has not yet made a final decision on whether to extend the Black Sea grain deal. Meanwhile, the United Nations has committed to making every effort to prolong the pact before its expiration on July 17.
Kremlin spokesman Dmitry Peskov stated that the official decision has not been announced and will be made in a timely manner. The deal allows for the safe export of grain from Ukraine despite the ongoing conflict. Russia has cited obstacles to its own grain and fertilizer exports as reasons for not renewing the agreement, but Peskov emphasized that there is still time for the West to address these issues.
Under the Black Sea grain deal, Russia guaranteed the safe passage of grain ships to and from Ukrainian ports through its controlled waters. In addition, the United Nations and Russia signed a memorandum of understanding to facilitate the access of Russian fertilizers and other products to global markets.
Rebeca Grynspan, a top U.N. trade official, stressed the importance of both agreements in maintaining stable markets for food and fertilizers. She expressed the United Nations’ commitment to continuing the agreements and stated that she may travel to Moscow to meet with officials before the deal expires.
To fulfill the memorandum, Russia has outlined several conditions, including the readmission of the Russian Agricultural Bank to the international banking payment system, SWIFT. The European Union has considered a proposal for the bank to set up a subsidiary to reconnect to the global financial network as an incentive for Russia to extend the deal. However, Russian Foreign Ministry spokeswoman Maria Zakharova rejected this idea, stating that there is no substitute for restoring the bank’s full access to SWIFT.
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