The President of the Grain Union estimated the losses of the grain industry from the Black Sea initiative
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During the period of the Black Sea initiative, Russia’s grain industry has lost about $1 billion due to the discount on Russian grain to world prices, President of the Russian Grain Union Arkady Zlochevsky said at a press conference.
“Everyone looked with pain at how this deal was extended, damaging Russian grain supplies. If we calculate, we lost a year during the implementation of this deal, we lost more than $1 billion this year. And this is only the grain growers lost, I don’t count the losses of fertilizer producers,” he said (quote according to RIA Novosti).
According to him, it is possible to return to the implementation of the grain deal if the conditions of the Russian side are met, but, in his opinion, “nothing will be done.” Therefore, according to Zlochevsky, the chances of restoring the agreement are not great.
On July 17, the Russian Foreign Ministry announced that Russia was withdrawing from the grain deal. This includes the withdrawal of guarantees for the safety of navigation, the curtailment of the maritime humanitarian corridor, the disbanding of the Joint Coordination Center (JCC) in Istanbul and the restoration of the regime of a temporarily dangerous area in the northwestern Black Sea.
The press secretary of the President of Russia Dmitry Peskov specified that its action is terminated, since the Russian part of the deal is not being fulfilled. At the same time, Moscow is ready to return to the implementation of the agreements as soon as its conditions are met.
The grain agreement was concluded on July 22, 2022 between representatives of Turkey, the UN, Russia and Ukraine. The Ukrainian part of the deal implies the unhindered export of grain from the ports of Odessa, Yuzhny and Chernomorsk, the Russian part – easing restrictions on the export of Russian agricultural products and fertilizers. Since then, the agreement has been repeatedly extended, and the last agreement was reached in May.
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