Western anger and calls for Russia to return to grain deal – Fears of another price spike

The moment the Russia is looking for those responsible for yesterday’s mass attack with drones against the Black Sea Fleet, including Canada, NATO and EU they call her to return to the agreement. At the same time, the concern that a new food crisis is just around the corner increases, while grain prices are expected to record another steep rise.

The NATO called on Moscow today, Sunday, to immediately return to the agreement on the export of grain from Ukrainian Black Sea ports.
“President (of Russia, Vladimir) Putin must stop using food as a weapon and stop the illegal war in Ukraine,” NATO spokeswoman Oana Lungescu said. “We call on Russia to reconsider its decision and renew the agreement as a matter of urgency, allowing food to reach those who need it most,” he added. The spokeswoman reminded that all NATO countries welcomed the agreement reached with the help of Turkey. “These exports have helped reduce food prices around the world,” he noted.

Alongside, UN Secretary-General Antonio Guterres ‘deeply concerned’ on the situation regarding the Ukrainian grain export agreement and for this reason he postponed by a day his trip to Algiers, where he was to attend the Arab League Summit. As the representative of the UN Secretary General, Stephane Dujarric, said, A. Guterres has “intensive consultations” in order for Russia to revise its decision.

Earlier, the European Union also called on Russia to reverse its decision. The EU High Representative, Joseph Borel, tweeted that “the EU urges Russia to reverse its decision to suspend its participation in the grain deal”.

Mr Borel adds that “Russia’s decision to suspend participation in the Black Sea agreement puts at risk the main export route for much-needed grain and fertilizer to address the global food crisis caused by the war against Ukraine.”

A rise in grain prices is coming

Russia’s withdrawal has caused concern that grain prices are expected to rise again. According to analysts, wheat futures are expected to shoot up tomorrow, Monday.

In the last eight months and since the start of the war in Ukraine, wheat markets have been particularly sensitive as Ukraine and Russia are considered among the world’s largest wheat exporters, according to Reuters. Ukraine is also a major supplier of corn. The creation of the runway, which allowed over 9 million tons to be shipped grain and oilseed commodities from Ukrainian ports, helped stabilize grain markets and contain world prices after reaching record levels. But this relative calm is likely to end.

“The announcement from Russia will certainly work upwards for its prices at the beginning of the week as well it is very likely that we will see prices go up, simply because less grain will come out of Ukraine,” Arthur Portier of consultancy Agritel told Reuters.

Ukraine: ‘Impossible’ to export – 95 loaded ships waiting

According to the Ministry of Infrastructure of Ukraine due to the Russian blockade, it is again “impossible” to export grain from Ukrainian ports. As stated by the Minister of Infrastructure, Oleksandr Kubrakov, a ship loaded with 40 tons of grain was supposed to set sail today for Ethiopia, but “due to the blockade of the grain corridor by Russia, exports are impossible.”

In total 218 ships have been “substantially involved” due to Russia’s decision to suspend its participation in the agreement, the Ministry of Infrastructure of Ukraine points out, as reported by Reuters

“Two hundred and eighteen ships are …blocked in their current positions,” the ministry said via the Telegram messaging app.

The ministry stated that 95 loaded ships that had left Ukrainian ports awaiting inspection for shipment to their final destination and 101 permits await inspection at the entrance to Ukrainian ports. It also reported that 22 ships with agricultural products were waiting to leave Ukrainian ports.

Russia is not backing down

However, Russia does not seem willing to return to the agreement. Moscow seems determined to find the “culprit” with the Russian Ministry of Defense today in the frame and Canada after yesterday’s accusations against Britain, after he said he recovered and analyzed the wreckage of the unmanned, remote-controlled aircraft and concluded that the aircraft were equipped with Canadian-made navigation devices.

At the same time, it claims that the remote-controlled, unmanned surface vehicles that attacked its fleet in the Black Sea used the “safe corridor” intended to transport the grain and that one of them may have been launched from a “civilian ship”.

Help from Poland

However, after the “absolute” separation of Russia, the Poland said today that together with its European partners it is ready to provide Ukraine with further assistance in the transportation of essential goods as according to the Ministry of Foreign Affairs in Warsaw.

Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.