Russia suspends the deal to reduce food prices by more than 20% globally | world

Russia said the deal, which cuts food prices by more than 20 percent globally, will expire on Tuesday.

The agreement – negotiated in July 2022 – was intended to alleviate the global food crisis by allowing Ukrainian grain halted by the Russian-Ukrainian conflict to be transported safely across the Black Sea.

Cause the invasion of Ukraine in February 2022 World grain prices rose. Thus, the agreement sought to reduce product prices, according to the United Nations.

The partnership is important because Ukraine and Russia are among the world’s largest exporters of commodities and have an impact on product prices around the world.

Almost 33 million metric tons of corn, wheat and other grains were exported from Ukraine. Under the agreement, the last ship left Ukraine on Sunday.

The Russians threatened to withdraw from the agreement because of their demands for improvement Its exports of grain and fertilizers were not met. Russia also complained that not enough grain was getting to the poor countries.

Russia has officially notified Türkiye, Ukraine and the United Nations of this Against the extension of the grain export agreement in the Black SeaOn Monday, the RIA news agency quoted Foreign Ministry spokeswoman Maria Zakharova.

Kremlin spokesman Dmitry Peskov told reporters that the Black Sea agreements no longer apply today.

The Ukrainian army indicated that the attack might be a kind of provocation on the part of Russia itself, but the Ukrainian media quoted unnamed sources as saying that the Ukrainian security service was behind the incident.

Peskov added that “as soon as the Russian part of the agreements is implemented, the Russian side will return to the implementation of this agreement immediately.”