DIRS.INFO The most relevant business & tech news

☆ Wheat prices surge after Russia axes grain deal. And it's not good news for the world's food supply
▼ + stars: | 2023-07-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Farmers use harvesting vehicles to harvest grain in Stavropol Krai, one of Russia's most important agricultural lands is seen in Stavropol, Russia on July 16, 2023. Hours before the agreement's expiry, Russia said Monday that it would not renew the Black Sea Grain Initiative. The Black Sea Grain Initiative has been repeatedly elongated in short increments, amid increasing discontent from Russia over perceived restrictions that limit the full dispatch of its own grain and fertilizer exports. Wheat prices remain well below the peak levels of 1177.5 cents per bushel reached in May last year, however. Corn futures soared to a high of 526.5 cents per bushel, while soybean futures surged to a high of 1,388.75 cents per bushel.

Persons: Dmitry Peskov, Vladimir Putin, Cyril Ramaphosa Organizations: United Nations, Initiative, South Locations: Stavropol Krai, Stavropol, Russia, Turkey, Ukraine, Russian

☆ Wheat prices jump after Russia pulls out of the Black Sea grain deal.
▼ + stars: | 2023-07-17 | by ( Liz Alderman | More About Liz Alderman | ) www.nytimes.com time to read: +1 min

The risk of a fresh uptick in global food inflation emerged Monday after President Vladimir V. Putin pulled Russia out of the Black Sea grain deal, sending wheat prices surging and exposing vulnerable countries in Africa and the global south in particular to the prospect of a new round of food insecurity. Chicago wheat futures, a barometer for global prices, jumped more than 4 percent as the Kremlin’s move once again jeopardized a key trade route to global markets for grain from Ukraine, one of the world’s major bread baskets. “It will hurt specific countries dependent on these exports,” Mr. Ash said. But beyond that, “it shows how weak Putin is after the Wagner coup: He is now desperate to take any bit of leverage he can.”The Black Sea Grain Initiative was struck a year ago to alleviate a global food crisis after Russia’s invasion of Ukraine, when Russia blocked ships from carrying the country’s grain out of its ports on the Black Sea. Those blockages swiftly sent grain prices soaring to record highs.

Persons: Vladimir V, Putin, Mr, Timothy Ash, Ash, Wagner, blockages Organizations: Wagner, BlueBay, Management, Initiative Locations: Russia, Africa, Ukraine, London, “

☆ How the Black Sea grain deal collapse could impact global food prices and hunger
▼ + stars: | 2023-07-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —Wheat and corn prices on global commodities markets jumped Monday after Russia pulled out of a crucial deal allowing the export of grain from Ukraine. The collapse of the pact threatens to push up food prices for consumers worldwide and tip millions into hunger. The White House said the deal had been “critical” to bringing down food prices around the globe, which spiked after Russia invaded Ukraine in February last year. Food pricesThe global food price index complied by the UN’s Food and Agriculture Organization hit an all-time high in March 2022, but has fallen steadily since then. “A renewed rise in agricultural commodity prices would obviously push up retail food prices but perhaps not by as much as you think, particularly in developed economies,” she said.

Persons: “, ” Adam Hodge, —, Vladimir Putin, General Antonio Guterres, Shashwat, ” Saraf, Richer, Caroline Bain, ”, Rob Picheta, Hanna Ziady, Mick Krever, Anna Chernova, Priscilla Alvarez Organizations: London CNN —, US National Security Council, Chicago Board of Trade, United Nations, Organisation for Economic Co, Development, Gro Intelligence, Food Security Information Network, European Union, Rescue, East, Agriculture Organization, Capital Economics, CNN Locations: Russia, Ukraine, Turkey, Istanbul, Kyiv, Moscow, United States, Sevastopol, Russian, Crimea, East Africa, East, Africa

Talks over the renewal of a deal that allows Ukraine to export its grain across the Black Sea in wartime were set to go down to the wire again, as the United Nations waited on Sunday for a response from Russia on a proposal that could revive the agreement and help keep global grain prices stable. The Black Sea Grain Initiative, brokered by the United Nations and Turkey, is one of the very few areas of wartime cooperation between Ukraine and Russia. It was first agreed in summer last year, allowing Ukraine to restart the export of millions of tons of grain from its ports on the Black Sea despite Russia’s full-scale invasion, which began in February. But Russia has repeatedly threatened to pull out of the agreement, which has only been renewed for short periods. The latest deadline for expiry is midnight Monday.

Persons: António Guterres, Vladimir V, Putin Organizations: United Nations, Initiative, United Locations: Ukraine, Russia, United Nations, Turkey

CNN —A crucial deal allowing the export of grain from Ukraine is set to expire Monday unless Russia agrees to an extension. The last ship to travel under the Black Sea deal left the port of Odesa early on Sunday, Reuters reported. “Moreover, the main goal of the deal, namely the supply of grain to countries in need, including those on the African continent, has not been realized,” it said. Saint-Kitts-and-Nevis-flagged bulker TK Majestic, carrying grain under the UN's Black Sea Grain Initiative, waits in the southern anchorage of the Bosphorus in Istanbul, Turkey. Mehmet Emin Caliskan/ReutersThe deal, which was first brokered by Turkey and the United Nations following the outbreak of Russia’s war on Ukraine in July 2022, creates procedures to ensure the safe export of grain from Ukrainian ports.

Persons: Vladimir Putin, Cyril Ramaphosa, Putin, “, Mehmet Emin Caliskan Organizations: CNN, Sunday, Reuters, South, UN, United Nations, Kremlin Locations: Ukraine, Russia, Saint, Kitts, Nevis, Bosphorus, Istanbul, Turkey, Black, Moscow, Sevastopol, Crimea

☆ A landmark agricultural deal that guarantees food security for tens of millions is set to expire on Monday as Russia debates its renewal
▼ + stars: | 2023-07-15 | by ( Amanda Macias | ) www.cnbc.com time to read: +4 min

The Black Sea deal has allowed Ukraine to ship more than 30 million tons of produce from three major ports, helping to bring down global food prices down after they spiked following Russia's invasion. Last week, Secretary-General Antonio Guterres sent a letter to Russian President Vladimir Putin outlining proposals to salvage the deal. REUTERS/Nacho Doce Nacho Doce | ReutersBefore Russian troops poured over Ukraine's borders in late February 2022, Kyiv and Moscow accounted for almost a quarter of global grain exports. Those agricultural shipments came to a halt for nearly six months until representatives from Ukraine, Russia, the U.N. and Turkey agreed to establish a humanitarian sea corridor under the Black Sea Grain Initiative. One of Moscow's top demands though is for the Russian Agricultural Bank, or Rosselkhozbank, to return to the SWIFT banking system.

Persons: Akos Stiller, Antonio Guterres, Vladimir Putin, U.N, Stephane Dujarric, Putin, Sergei Lavrov, Sean Gallup, Sergey Lavrov, Lavrov, That's, SWIFT Organizations: Bloomberg, Getty Images WASHINGTON, Kremlin, REUTERS, Reuters, Russian, Food, Sea Initiative, Russian Agricultural Bank, Society, Worldwide Interbank Financial Telecommunication Locations: Bicske, Hungary, Ukraine, Russia, Moscow, Ukrainian, UN, Turkey, Odesa, Kyiv, Ukraine's, Afghanistan, Ethiopia, Somalia, Sudan, Yemen, Yuzhny, Moscow's

☆ UN waits for Russian answer as Black Sea grain deal deadline looms
▼ + stars: | 2023-07-14 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

Guterres wrote to Putin on Tuesday asking him to extend the Black Sea deal in return for connecting a subsidiary of Russia's Agricultural Bank (Rosselkhozbank) to the international payment system SWIFT, sources told Reuters. The last ship traveling under the Black Sea deal is loading its cargo at Ukraine's Odesa port. U.S. Secretary of State Antony Blinken on Friday pushed for Russia to extend and expand the Black Sea deal, accusing Russia of using the agreement "as a weapon" by threatening to end it. To convince Russia to agree to the Black Sea deal, a three-year memorandum of understanding was struck in July 2022 under which U.N. officials agreed to help Russia get its food and fertilizer exports to foreign markets. The EU is considering connecting a Rosselkhozbank subsidiary to SWIFT to allow for grain and fertilizer transactions, sources familiar with discussions said on Wednesday.

Persons: Antonio Guterres, Vladimir Putin, Guterres, Putin, SWIFT, We're, U.N, Stephane Dujarric, Tayyip Erdogan, Antony Blinken, Blinken, Michelle Nichols, Will Dunham Organizations: UNITED NATIONS, United Nations, Russia's Agricultural Bank, Reuters, Kremlin, TASS, U.S, Ukraine, EU, SWIFT, Thomson Locations: Ukraine, Russia, Moscow, Turkey, Jakarta, EU

☆ Erdogan says he is in agreement with Putin that grain deal should be extended
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, July 14 (Reuters) - Turkish President Tayyip Erdogan said on Friday that he is in agreement with Russian President Vladimir Putin that a deal allowing the Black Sea export of Ukraine grain should be extended. Speaking to reporters, Erdogan said that the deal will hopefully be extended from its current July 17 deadline as results of the efforts by the United Nations and Turkey. The European Commission is helping the United Nations and Turkey try to extend the grain deal and is open to "explore all solutions", a European Union spokesperson said on Thursday. The U.N. and Turkey brokered the Black Sea Grain Initiative with Russia and Ukraine in July 2022 to help alleviate a global food crisis worsened by Moscow's invasion and blockade of Ukrainian ports. Ukraine and Russia are among the world's leading grain exporters.

Persons: Tayyip Erdogan, Vladimir Putin, Erdogan, Huseyin Hayatsever, Ali Kucukgocmen, Alison Williams Organizations: Black, United, European Commission, European Union, Ece Toksabay, Thomson Locations: ISTANBUL, Ukraine, United Nations, Turkey, Russia, Ukrainian

☆ EU helping UN, Turkey in bid to extend Black Sea grain deal
▼ + stars: | 2023-07-13 | by ( Michelle Nichols | ) www.reuters.com time to read: +5 min

A Kremlin spokesman later said that Russia had not taken a final decision on whether to exit the grain deal. The European Commission's priority is to ensure that Ukrainian grain can reach the world market and it calls on all parties to extend the Black Sea deal, a European Union spokesperson in Brussels said on Thursday. Russia has threatened to ditch the Black Sea grain deal because several demands to dispatch its own grain and fertilizer abroad have not been met. The last ship traveling under the Black Sea agreement is currently loading its cargo at the Ukrainian port of Odesa ahead of the Monday deadline. Britain has also "worked very closely with the City of London to enable a very complex payment system" for Russian grain, Britain's U.N. ambassador, Barbara Woodward, has said.

Persons: Antonio Guterres, Vladimir Putin, SWIFT, Guterres, Putin, Ursula von der Leyen, Putin's, U.N, Barbara Woodward, Woodward, Michelle Nichols, Foo Yun Chee, Angus MacSwan, Leslie Adler Organizations: UNITED NATIONS, European Commission, United, Black, European Union, Russian Agricultural Bank, Reuters, United Nations, Kremlin, JPMorgan Chase &, reassurances, U.S ., The United Nations, African Export, Import Bank, City, Thomson Locations: United Nations, Turkey, Ukraine, Russia, Ukrainian, EU, U.N, Moscow, Brussels, Russian, Odesa, Africa, Britain, London

☆ Putin says Russia may quit Black Sea grain deal if demands not met
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, July 13 (Reuters) - President Vladimir Putin said on Thursday Russia was set to withdraw from a deal allowing the export of Ukrainian grain via the Black Sea unless its own demands are met, reaffirming Moscow's tough stance ahead of the deal's expiry next Monday. We will immediately rejoin this deal," Putin said. A Kremlin spokesman later clarified that Russia had not taken a final decision on whether to exit the grain deal. The United Nations and Turkey brokered the Black Sea Grain Initiative with Russia and Ukraine in July 2022 to help alleviate a global food crisis that worsened after Moscow sent forces into Ukraine and blockaded Ukrainian ports. To convince Putin to agree to the deal, U.N. officials also agreed to help Russia get its food and fertilizer exports to foreign markets - something Moscow says they have failed to do.

Persons: Vladimir Putin, Putin, Antonio Guterres, SWIFT, Gareth Jones, David Evans, Mark Heinrich Our Organizations: Russia, United Nations, Kremlin, United, Reuters, European Union, Russian Agriculture Bank, Thomson Locations: MOSCOW, Russian, Russia, United Nations, Turkey, Ukraine, Moscow, Ukrainian

☆ UN asks Putin to extend Black Sea grain deal in return for SWIFT access -sources
▼ + stars: | 2023-07-12 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

Russia has threatened to ditch the grain deal, which expires on Monday, because several demands to dispatch its own grain and fertilizer abroad have not been met. The last two ships traveling under the Black Sea agreement are currently loading cargoes at the Ukrainian port of Odesa ahead of the deadline. A key demand by Moscow is the reconnection of the Russian agricultural bank Rosselkhozbank to the SWIFT international payment network. Guterres has proposed to Putin that Russia allow the Black Sea grain deal to continue for several months, giving the EU time to connect a Rosselkhozbank subsidiary to SWIFT, two of those sources familiar with discussions told Reuters. The United Nations and Turkey brokered the Black Sea Grain Initiative with Russia and Ukraine in July 2022 to help alleviate a global food crisis worsened by Moscow's invasion and blockade of Ukrainian ports.

Persons: Antonio Guterres, Vladimir Putin, Guterres, Putin, SWIFT, U.N, Stephane Dujarric, JPM.N, Michelle Nichols, Kanishka Singh, Mark Heinrich, Diane Craft Organizations: UNITED NATIONS, Reuters, European Union, European Commission, EU, Russian Agricultural Bank, Russian Federation, Kremlin, United, JPMorgan Chase, reassurances, U.S ., The United Nations, African Export, Import Bank, Thomson Locations: Russian, Ukraine, Russia, Odesa, Moscow, EU, SWIFT, Rosselkhozbank, United Nations, Turkey, Ukrainian, Africa

☆ US to send Ukraine cluster munitions, NATO makes membership pledge
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +6 min

The cluster munitions "will deliver in a time frame that is relevant for the counteroffensive," a Pentagon official told reporters. Cluster munitions are prohibited by more than 100 countries.Russia, Ukraine and the United States have not signed on to the Convention on Cluster Munitions, which bans production, stockpiling, use and transfer of the weapons. BOTH SIDES SHOULD STOP USING CLUSTER BOMBS -HRWHuman Rights Watch has accused Russian and Ukrainian forces of using cluster munitions, which have killed civilians. Turkey's President Tayyip Erdogan said after meeting Zelenskiy that Ukraine deserved NATO membership and that Ankara would continue working on a negotiated end to the war. "Our summit will send a clear message: NATO stands united, and Russia's aggression will not pay," Stoltenberg said at a news conference in Brussels.

Persons: Washington's, Vladimir Putin, Jake Sullivan, Joe Biden, Anatoly Antonov, Antonov, Igor Ovcharruck, Clodagh, It's, Colin Kahl, Volodymyr Zelenskiy, Tayyip Erdogan, Zelenskiy, Jens Stoltenberg, Stoltenberg, Biden, Putin, Martin Griffiths, Griffiths, Robert Muller, Jason Hovet, Pavel Polityuk, Mike Stone, Phil Stewart, Idrees Ali, Michelle Nichols, Grant McCool, Diane Craft, David Gregorio Our Organizations: NATO, United States, Rights, United Nations, Pentagon, Cluster Munitions, White House, Watch, U.S, Washington, TASS, REUTERS, Treaty Organization, CNN, UN, Initiative, U.N, United, Thomson Locations: Russia, Ukraine, Russian, U.S, United States, Ukrainian, Kharkiv, Czech Republic, Slovakia, Turkey, Bulgaria, Zelenskiy, Ankara, Prague, Sofia, Brussels, Vilnius, Lithuanian, RUSSIA, Moscow, Odesa, United Nations, Kyiv, Washington

☆ UN aid chief to Russia: Don't 'chuck away' Black Sea grain deal
▼ + stars: | 2023-07-07 | by ( Michelle Nichols | ) www.reuters.com time to read: +5 min

"The world has seen the value of the Black Sea Initiative ... this isn't something you chuck away," the U.N.'s Martin Griffiths told reporters. Zelenskiy said the Black Sea deal was important to help the world fight hunger. Russia has described the Black Sea deal and the agreement to facilitate its own exports as a single package. The Black Sea deal allows for ammonia exports - a key ingredient in nitrate fertilizer - but none has shipped. As the expiration date looms, the Black Sea grain deal is grinding to a halt.

Persons: Martin Griffiths, Volodymyr Zelenskiy, Tayyip Erdogan, Erdogan, Zelenskiy, Griffiths, Michelle Nichols, Elaine Monaghan, Oleksandr Kozhukhar, Doina Chiacu, Grant McCool Organizations: UNITED NATIONS, U.N, United Nations, Black Sea Initiative, United, Zelenskiy, Russian Federation, Russian Agricultural Bank, International Energy Agency, Sezer, Thomson Locations: Russia, Moscow, Odesa, United Nations, Turkey, Ukraine, Ukrainian, Istanbul, Russian, United, United States, European Union, Britain, Togliatti, Washington, Kyiv

Romanian port operators shipped 8.6 million tonnes last year, and 6.3 million tonnes in the first five months of 2023, the Constanta Port authority told Reuters. The port handled 12.17 million tonnes of grains overall in the first five months, a 21% jump on the year. "There are premises that Constanta Port will see a new traffic record," the authority said. As a result, the port could be overwhelmed, even if Black Sea grain initiative is extended, according to Cezar Gheorghe of Romanian grain market consultancy AGRIColumn. The port has a storage capacity of 2 million tonnes, but flows need to be stringently separated for origin certification.

Persons: Cezar Gheorghe, Gheorghe, Luiza Ilie, Marek Strzelecki, Pavel Polityuk, David Evans Organizations: United, Constanta Port, Reuters, AGRIColumn, European Union, EU, Thomson Locations: BUCHAREST, Constanta, Romania, Ukraine, United Nations, Turkey, Romanian, Constanta Port, Moldova, Odessa, Istanbul, Russian, Suez, Western Ukraine, Bucharest, Europe, Warsaw

☆ UN chief calls for acceleration of Black Sea grain deal exports
▼ + stars: | 2023-06-20 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

Russia's President Vladimir Putin said last week that Russia was considering withdrawing from the Black Sea grain deal. The Black Sea deal also allows for ammonia shipments, but none have happened. Restarting the pipeline was one of several Russian demands made in talks to extend the Black Sea grain deal. Last month it began stopping vessels traveling to Pivdennyi port under the Black Sea grain deal until the ammonia pipeline was restarted. Haq said the United Nations was "fully committed" to supporting the implementation of the Black Sea Grain Initiative and the pact to facilitate Russia food and fertilizer exports.

Persons: Antonio Guterres, U.N, Farhan Haq, Guterres, Haq, Vladimir Putin, Michelle Nichols, Cynthia Osterman Organizations: UNITED NATIONS, United Nations, United, Initiative, Black, TASS, Russian Federation, Thomson Locations: Russia, United Nations, Turkey, Ukraine, Ukrainian, Moscow, United

Russian President Vladimir Putin meets with African leaders on June 17 in Russia. The Black Sea grain deal: Putin also claimed "the crisis on the global food market is not a consequence of conflict in Ukraine." “Ukrainian grain supply to the world’s markets doesn’t solve the problem of world hunger,” he said. “Countries in need should not suffer, so Moscow went to great lengths to ensure the supply of Ukrainian grain to African countries,” Putin said. Ramaphosa also pushed for "opening up of the movement of the grains across the Black Sea so whatever blockages there are should be released."

Persons: Vladimir Putin, Putin, Volodymyr Zelensky, ”, ” Putin, Cyril Ramaphosa, Ramaphosa, Maria Lvova Organizations: United Nations, “, Initiative, African Locations: Russia, Moscow, Ukraine, St . Petersburg, ”, Turkey, Africa, Russian

☆ Explainer: What is Russia's problem with the Black Sea grain deal?
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +7 min

Putin said he would discuss the future of the grain deal with visiting African leaders on Saturday. THE PACKAGE DEALThe United Nations and Turkey brokered the Black Sea Grain Initiative last July to help tackle a global food crisis worsened by Moscow's invasion of Ukraine and blockade of its Black Sea ports. Under the Black Sea grain deal, more than 625,000 tonnes of grain has so far been shipped by the WFP for aid operations in Afghanistan, Ethiopia, Kenya, Somalia and Yemen. Until the ammonia pipeline is restarted, Moscow has said it will limit the number of vessels allowed to travel to Pivdennyi port under the Black Sea grain deal. RUSSIAN GRAIN, FERTILIZER EXPORTSWhile exports of Russian wheat and some fertilisers have risen since the war, exports of Russian ammonia and potassium-based fertilizers have plummeted.

Persons: Vladimir Putin, Putin, Stephane Dujarric, Linda Thomas, Greenfield, JPM.N, Daniel Wallis Organizations: United, United Nations, Food Programme, The United Nations, Democratic, Agricultural Bank, European Union, EU, JPMorgan Chase, reassurances, U.S ., African Export, Import Bank, Reuters, U.S . Department of Agriculture, Thomson Locations: Russia, Moscow, United Nations, Turkey, Ukraine, Africa, Lebanon, Syria, Yemen, Somalia, Democratic Republic of Congo, Afghanistan, Ethiopia, Kenya, United States, America, SWIFT, Russia's Togliatti, Ukraine's, Ukrainian, Ukraine's Kharkiv, East

☆ Exclusive: African leaders to propose 'confidence building measures' to Russia, Ukraine
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +6 min

Summary African leaders travel to Ukraine and Russia Friday and SaturdayAiming to begin "diplomacy-led" process to resolve conflictAfrica hit hard by economic fallout of warJOHANNESBURG, June 15 (Reuters) - African leaders could propose a series of "confidence building measures" during their initial efforts to mediate in the conflict between Russia and Ukraine, according to a draft framework document seen by Reuters on Thursday. "The conflict, as well as the sanctions placed on Russia by major trading partners of the (African) Continent, have had an adverse effect on African economies and livelihoods," it said. The document lists a number of measures that could be proposed by the African leaders as part of the first stage of their engagement with the warring parties. The African peace effort is just one of several competing initiatives aimed at ending the fighting. Among the measures that could be proposed by the African leaders in the first stage of their engagement was an "unconditional grain and fertiliser deal".

Persons: Macky Sall, Cyril Ramaphosa, Volodymyr Zelenskiy, Vladimir Putin, Putin, Antonio Guterres, Ramaphosa, It's, Guterres, Zelenskiy, Michelle Nichols, Tom Balmforth, Joe Bavier, Olivia Kumwenda, Mark Potter, Nick Macfie Organizations: Reuters, Ukrainian, Global, NATO, United, Johannesburg, United Nations, Thomson Locations: Ukraine, Russia, Africa, JOHANNESBURG, Senegal, Zambia, Comoros, Kyiv, St, Petersburg, Russian, Belarus, China, Moscow, United Nations, Turkey

☆ Russian forces repeatedly shell ammonia pipeline in Ukraine's Kharkiv region -governor
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Russian forces repeatedly fired at an ammonia pipeline in Ukraine's Kharkiv region, a local governor said on Tuesday, a conduit potentially crucial for the extension of a deal allowing the safe export of grains and fertilizers from Black Sea ports. The extension next month of the Black Sea Grain initiative, a pact struck in July 2022 to help tackle a global food crises, could hinge on the reopening of the pipeline. The ammonia pipeline, the world's longest, stretches about 2,470 kilometres (1,534 miles) from Russia's Togliatti on the Volga River to three Black Sea ports. There was no recorded leakage from the late Tuesday shelling that hit the pipeline near the village of Masiutivka and an overnight shelling near the village of Zapadne, said Oleh Sinehubov, the governor of Ukraine's Kharkiv region. Reporting by Lidia Kelly in Melbourne; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Oleh Sinehubov, Sinehubov, Lidia Kelly, Jamie Freed Organizations: Reuters, Thomson Locations: Ukraine's Kharkiv, Russia's Togliatti, Ukraine, Masiutivka, Zapadne, Melbourne

☆ Ukraine has 'plan B' to continue exports if grain deal collapses - minister
▼ + stars: | 2023-06-02 | by ( Pavel Polityuk | ) www.reuters.com time to read: +3 min

Summary Future of Black Sea grain deal looks uncertainUkraine's farm minister floats "Plan B"Exports could continue without Russia, he saysOfficial suggests government insurance guaranteesKYIV, June 2 (Reuters) - Ukraine would be ready to continue exporting grain across the Black Sea as part of a "plan B" without Russian backing if Moscow pulls the plug on the current grain export deal and it collapses, Ukraine's farm minister said on Friday. The United Nations and Turkey brokered the Black Sea Grain Initiative between Moscow and Kyiv last July to help tackle a global food crisis aggravated by Russia's February 2022 invasion of Ukraine, a leading global grain exporter. He said in an interview in Kyiv: "That's not how it works and then we will be ready for a plan B, which depends on us, depends on the U.N. "Plan B... excludes the fourth party (Russia) in this relationship," he said. He said Ukraine still hoped the current Black Sea grain initiative would work despite the current difficulties while any new option would need a new agreement or format.

Persons: Russia's, Mykola Solsky, Solsky, Pavel Polityuk, Tom Balmforth, Hugh Lawson Organizations: United, Reuters, Ukrainian, Thomson Locations: Russia, Ukraine, Moscow, United Nations, Turkey, Pivdennyi, Kyiv, Ukrainian

☆ World food prices fall to two-year low in May, UN food agency says
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

PARIS, June 2 (Reuters) - The United Nations food agency's world price index fell in May to its lowest in two years, as a slump in prices of vegetable oils, cereals and dairy outweighed increases for sugar and meat. The Food and Agriculture Organization's (FAO) price index, which tracks the most globally-traded food commodities, averaged 124.3 points in May against a revised 127.7 for the previous month, the agency said on Friday. But international rice prices continued to increase in May, partly due to tighter supplies in some exporting countries, said FAO. However, improving weather conditions in Brazil and lower crude oil prices have curbed sugar markets, it added. Wheat stocks were forecast to fall, however, as production was seen declining while demand was expected to be stable.

Persons: Gus Trompiz, Emelia Sithole Organizations: United, Agriculture Organization's, FAO, El, Thomson Locations: United Nations, Ukraine, Brazil

☆ Russia destroyed Ukraine's 'last warship' in Black Sea missile attack, defense ministry said
▼ + stars: | 2023-06-02 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

The Ukrainian Navy's "last warship" was destroyed, a Russian Defense Ministry spokesman said. The Yuriy Olefirenko was hit with "high-precision weapons" in the port of Odesa, Russia claimed. Russia said the Yuriy Olefirenko was hit on Monday with missiles, which Konashenkov called "high-precision weapons," per Reuters. Russia has rarely targeted the port after signing the UN-backed Black Sea Grain Initiative last year. Whichever side holds the piece of land can control ship traffic between the ports of Kherson and Mykolaiv and the Black Sea, per Forbes.

Persons: Yuriy Olefirenko, —, Igor Konashenkov, Konashenkov, Frederik Mertens, Mertens Organizations: Russian Defense Ministry, Ukrainian Navy, Service, Ukrainian, Russian Defence Ministry, UN, Forbes, Navy, Hague, Strategic Studies, Newsweek Locations: Odesa, Russia, Telegraph, Ukraine, Soviet, Kherson —, Dnipro, Kherson, Mykolaiv, Ukrainian

☆ Exclusive: UN tries to save Black Sea grain deal with 'mutually beneficial' proposal
▼ + stars: | 2023-05-31 | by ( Pavel Polityuk | ) www.reuters.com time to read: +2 min

As the preparatory work starts, the U.N. wants parallel talks to be held on widening the Black Sea deal that was agreed last July to include more Ukrainian ports and other cargoes, said the source, who spoke to Reuters on condition of anonymity. Ukraine and Turkey have agreed to the new proposal, intended to improve operations in the Black Sea grain export corridor, but Russia has not yet responded, the source said. The U.N. and Turkey brokered the Black Sea Grain Initiative between Moscow and Kyiv last July to help tackle a global food crisis aggravated by Russia's invasion of Ukraine, a leading global grain exporter. Ukrainian officials have said that since mid-April, Russia has "unreasonably restricted" the work of the Black Sea grain deal. A senior government source told Reuters this month that Kyiv would consider allowing Russian ammonia to transit its territory for export on condition that the Black Sea grain deal is expanded to include more Ukrainian ports and a wider range of commodities.

Persons: Pavel Polityuk, Timothy Heritage, Kirsten Donovan Organizations: Reuters, United Nations, Kyiv, Thomson Locations: Kyiv, Moscow, Ankara, Ukraine, Russia, Turkey, Pivdennyi, Odesa

☆ Russian warship protecting pipelines attacked by 3 Ukrainian marine drones in the Black Sea, Russian officials say
▼ + stars: | 2023-05-25 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

Ukraine attacked the Ivan Khurs with three uncrewed speedboats, Russian officials said. The raid on the Russian warship in the Black Sea failed to cause any damage, they claimed. Footage posted by Russian officials shows the Russian ship firing shots, striking and destroying one of the uncrewed boats. The Ivan Khurs is one of Russia's most modern ships in the Black Sea fleet and has a crew of 120. Last year, Ukrainian officials accused Russia of purposefully slowing grain shipments in the area, the New York Times reported.

☆ Exclusive: Ukraine would only allow Russian ammonia exports if it gets expanded grain deal
▼ + stars: | 2023-05-19 | by ( Pavel Polityuk | ) www.reuters.com time to read: +2 min

The comments are the first time Kyiv has publicly laid out its stance on Russian ammonia, which Moscow wants shipped via the Black Sea under the agreement. The Ukrainian government source, who asked not to be named, told Reuters the language of the deal does not cover the transit of Russian ammonia across Ukraine. Despite Russian threats to pull out of the deal, the Black Sea deal was extended for two months on Wednesday a day before it was due to expire. MORE PORTS, MORE GOODSOnly three of Ukraine's major Black Sea ports are included in the agreement. Officials have previously said the country, which used to export steel across the Black Sea, needs to export steel products.

Search resuls for: "Grain Initiative"

25 mentions found