THE BLACK SEA GRAIN INITIATIVE

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Recently Russia re-joined the Black Sea Grain deal.
The deal, brokered by the United Nations (UN) and Turkey, was signed in Istanbul in July 2022.
- The central idea was to calm markets by ensuring an adequate supply of grains, thereby limiting food price inflation.

Why was the grain export deal signed?

Ukraine is one of the world’s largest exporters of wheat, corn and sunflower oil, but Russia’s invasion of the country and naval blockade of its ports has halted shipments.
Some grain is being transported through Europe by rail, road and river, but the prices of vital commodities like wheat and barley have soared during the nearly five-month war.
Ukrainian and Russian military delegations reached a tentative agreement on a U.N. plan that would also allow Russia to export its grain and fertilizers.

What is the grain export deal?

The deal makes provisions for the safe passage of ships.
It foresees the establishment of a control centre in Istanbul, to be staffed by U.N., Turkish, Russian and Ukrainian officials, to run and coordinate the process.
Ships would undergo inspections to ensure they are not carrying weapons.
No Russian ship would escort vessels and there would be no Russian representative present at Ukrainian ports.
Ukraine was expected to export 22 million tons of grain and other agricultural products that have been stuck in Black Sea ports due to the war.