Sign In
Learn bits
World Affairs
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 

More Related Current Affairs View All

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

05 Mar

Arresting women at night

'The Madurai Bench of the Madras High Court in Deepa versus S. Vijayalakshmi and Others ruled that the legal provision in the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, which

Read More

05 Mar

Digital Personal Data Protection Act, 2023

'The Ministry of Electronics and Information Technology (MeitY) looking to wrap up public consultations on the draft Rules for the Digital Personal Data Protection Act, 2023 by Mar

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps