Ukraine Grain-Export Deal Extended for Another 120 Days: Guterres
November 17, 2022
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0:46Now PlayingUkraine Grain-Export Deal Extended for Another 120 Days: Guterres
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as posted by the channelA United Nations-brokered deal allowing exports of Ukrainian grain from the Black Sea will be extended, all sides confirmed Thursday, easing pressure on global food prices.
Ukraine’s Infrastructure Minister Oleksandr Kubrakov said on Facebook that a decision to renew the accord for 120 days was reached in Istanbul, where talks have been held. Russia later confirmed the deal will be prolonged without any changes, Tass reported. Turkey echoed the plans, and the UN welcomed “the agreement by all parties.”
That will keep crop shipments flowing from one of the world’s biggest grain and oilseed shippers, bolstering strained world supplies and benefiting Ukraine’s war-torn economy. Chicago wheat futures fell about 2% on the news, and corn and soybean oil retreated.
Ukraine still wants the deal extended by a whole year, and with one more port added to the accord, Kubrakov said; a response is awaited. President Volodymyr Zelenskiy said that Russian exports of ammonia through its territory -- a condition that Moscow has pressed for -- could only be allowed if the Kremlin agrees to exchange all war prisoners.
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