Global Grain Prices Rise

Russia and the West engaged in a heated debate at the United Nations Security Council over Russia's withdrawal from the Black Sea Grain Initiative.


Russian President Vladimir Putin. [Image source=Yonhap News]

Russian President Vladimir Putin. [Image source=Yonhap News]

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According to major foreign media on the 21st (local time), during an emergency meeting held by the UN Security Council, senior UN officials and Western diplomats from the United States and Europe criticized Russia's suspension of the Black Sea Grain Initiative.


The Black Sea Grain Initiative was established in July last year through mediation by the UN and T?rkiye, ensuring Ukraine's grain exports even during the war. On the 17th, Russia declared that it would no longer continue the agreement, causing global grain prices to rise and food prices to become unstable. Martin Griffiths, UN Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, warned that "some will be hungry, some will starve, and many could die," cautioning that a humanitarian disaster could occur worldwide.



Russia pointed out that under the Black Sea Grain Initiative, its own grain and fertilizer exports should also be guaranteed, but in reality, the promises have not been fulfilled. Dmitry Polyansky, Russia's Deputy Permanent Representative to the UN, stated that the agreement could be resumed if all conditions are met, including re-admitting Russian agricultural banks to the international payment system SWIFT (Society for Worldwide Interbank Financial Telecommunication) and restarting the ammonia pipeline crossing Ukraine.


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