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Mahesh

02/11/22 04:19 AM IST

Russia Pulls Out Of Black Sea Grain Deal

In News 
  • Russia has decided to call off the UN-brokered Black Sea grain deal which has seen more than 9 million tons of grain exported from Ukraine and brought down global food prices.
Black Sea grain Initiative 
  • The Black Sea Grain Initiative was an agreement between Russia and Ukraine with Turkey and the United Nations.
  • It sought to create a safe passage of food grains exported from Ukraine, which is currently in war with Russia.
  • Under this agreement, export of grain, food and fertilizers will be allowed to resume from Ukraine via a “safe maritime humanitarian corridor” from three key Ukrainian ports i.e., Chornomorsk, Odesa, and Yuzhny/Pivdennyi. 
Why the deal was signed? 
  • Ukraine exports around 45 million tonnes of grain to the global market each year.
  • However, after Russia launched military campaign in February 2022, Ukraine was left with large amount of grains stored in silos unable to be transported to other parts of the world.
  • This has severely affected the global supply of grains. With the energy prices and food prices increasing because of the conflict, many countries, especially those in Africa, were at the brink of famine.
  • The Black Sea Grain Initiative sought to address these issues.
Source- Indian Express 

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