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Russia Insists on a 60-Day Extension of the “Grain Agreement”

Mintec Global
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Russians continue to live in their own world, where only their decisions can be taken into account.

The Ministry of Foreign Affairs of Russia said that the grain agreement was extended for 60, not 120 days. They published a corresponding statement on March 20.

Due to “the lack of progress in the implementation of the Russia-UN memorandum on the normalization of domestic agricultural exports,” Moscow decided to shorten the extension of the grain agreement to 60 days, that is, until May 18.

The Russian side announced that they have officially communicated their position to the Turkish and Ukrainian sides of the Black Sea Initiative. Also they informed the representatives of the UN. According to Russia, no formal objections followed. Thus, the agreement continues to operate for the next two months in its current format. moreover, no changes regarding the ports are involved. And the nomenclature of cargoes and the agreed order of inspections remain the same.

Among the demands of the Russian Federation are:

– the connection of “Rosselkhozbank” to SWIFT;

– the resumption of the supply of agricultural machinery and service for it;

– the lifting of restrictions on insurance and access to ports;

– the restoration of the operation of the “Togliatti-Odesa” ammonia pipeline;

– the lifting of sanctions on Russian companies in the field of production and transportation of agricultural products and fertilizers.

Without progress in meeting these requirements, the Russian side threatens to suspend the grain initiative.

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