Russia and Ukraine signed separate agreements with Turkey and the United Nations today in Istanbul. These agreements will let Russia send grain and fertilizers to international markets, and Ukraine will be able to send grain to international markets again. This ended a standoff that had put food security around the world at risk while the two countries were fighting in Ukraine.
Oleksandr Kubrakov, who is in charge of infrastructure in Ukraine, Hulusi Akar, who is in charge of defense in Turkey, and Antonio Guterres, who is in charge of the UN, all signed the paper.
With the agreement to reopen Ukraine’s Black Sea ports, millions of tons of grain that have been stuck in Ukrainian ports since Russia invaded on February 24th will be able to move again. This will ease worries that Russia’s invasion could lead to a food crisis around the world.
Here are the main parts of the agreement:
The deal was signed by the UN secretary general, Ukraine, Russia, and Turkey
Turkey helped work out the deal with Russia to open the grain trade route from Ukraine to the Black Sea.
Ukraine decided not to sign a direct deal with Russia. Instead, they will probably sign “mirror” deals with other countries.
Still, both the Russian and Ukrainian teams are in Istanbul to sign the contract.
After the contract was made public, the price of wheat on world markets went down.
Even though Ukraine is one of the biggest grain producers in the world, Russia has been blocking its main Black Sea ports.
There isn’t enough Ukrainian grain to go around the world, which has caused food prices to rise and put millions of people at risk of going hungry.
Nearly 20 million tons of grain meant for export are stuck in Ukraine. After this year’s harvest, Ukrainian President Volodymyr Zelensky says that this number could go up to 75 million tonnes.