Moscow has suspended the Black Sea Grain Initiative, which could result in catastrophic results for food prices worldwide. Kremlin spokesman Dmitry Peskov said the West had failed to implement measures intended to facilitate Russian exports.
The Russian foreign ministry also said some parts of the agreement never materialized due to sanctions. The ministry says that if the West truly values the deal, then they should “seriously think about fulfilling their obligations.”
U.N. Secretary-General Antonio Guterres offered to partially restore Russia’s access to SWIFT, the world’s largest international payment system. But that was five days ago and, apparently, a deal hasn’t been reached to address Russia’s concerns.
For now, there is no guaranteed safe passage of cargo vessels in the Black Sea. This jeopardizes food security for millions in developing countries. Turkey’s foreign minister is negotiating with his Russian counterpart today.