Russian President Vladimir Putin today accused Western countries of “distorting” the Black Sea grain export deal, but assured that Russia would “immediately” return to it if its demands were met “in full”.

“We will consider the possibility of returning (to the agreement) but on one condition: if they are taken into account and implemented, without any exception” Russian demands, Putin told the cabinet, whose meeting was broadcast on television.

In its current form, extending the agreement made no sense, he added, accusing the West of using it as a tool of “political blackmail”. “Instead of helping countries in real need, the West used the agreement for political blackmail and turned it into a tool for the enrichment of multinationals, speculators in the world market,” he said.

Earlier today, Russia’s Defense Ministry warned that all ships bound for Ukrainian ports would be considered potential carriers of military cargo.

The price of wheat on the Euronext exchange closed today with an increase of 8.2%, at 253.75 euros per ton, thus returning to the level where it was at the beginning of April. The price of maize closed just below the threshold of 250 euros per ton, with an increase of 5.4%.