Ngozi Okonjo-Iweala, the director-general of the World Trade
Organisation (WTO), has expressed disappointment at Russia’s decision to halt
its participation in the Black Sea Grain Initiative.
The former minister of finance made this known in a tweet on
Monday.
Recall that Russia said it would no longer cooperate with a
deal that allowed the safe Black Sea export of Ukraine’s grain.
The deal, known as the Black Sea Grain Initiative, was brokered
by the United Nations and Turkey.
The initiative was established in July 2022 to abate a
global food crisis after Russia invaded Ukraine — a neighboring country and
fellow key grain exporter.
The deal allowed for commercial food and fertilizer
(including ammonia) exports from three key Ukrainian ports in the Black Sea –
Odesa, Chornomorsk, Yuzhny/Pivdennyi.
“The Black Sea agreements ceased to be valid today. As the
President of the Russian Federation said earlier, the deadline is July 17.
Unfortunately, the part relating to Russia in this Black Sea agreement has not
been implemented so far. Therefore, its effect is terminated,” Dmitry Peskov,
spokesperson of Russian President Vladimir Putin, told journalists.
Reacting to the development, Okonjo-Iweala said the stoppage
of the deal would be felt most severely by poor countries.
“Deeply disappointed at the termination of the Black Sea
Grain Initiative and the interruption of the grain trade from Ukraine. I share
UN SG at antonioguterres’ regret and concern,” she tweeted.
“Black Sea trade in food, feed & fertilizer is critical
to the stability of global food prices. Sad to say that poor people & poor
countries are hardest hit. Let’s keep hope alive on renewal.”
Click to signup for FREE news updates, latest information and hottest gists everydayDeeply disappointed at the termination of the Black Sea Grain Initiative & the interruption of the grain trade from Ukraine. I share UN SG @antonioguterres’ regret & concern. Black Sea trade in food, feed & fertilizer is critical to the stability of global food prices. Sad to say…
— Ngozi Okonjo-Iweala (@NOIweala) July 17, 2023
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