grain deal will cease to exist if the parties do not agree by May 18 – Kommersant

Russian Deputy Foreign Minister Sergei Vershinin said the grain deal would cease to exist if the parties did not reach consensus in negotiations to extend it until May 18, when the agreement expires. On May 10 and 11, talks were held in Istanbul between the deputy defense ministers and foreign ministers of the participants in the Black Sea initiative – Russia, Ukraine and Turkey. A new meeting is scheduled, but its dates have not yet been determined, Mr. Vershinin said.

“An initiative that brings unilateral benefits can hardly be recognized and confirmed by everyone. Naturally, we are primarily protecting the national interests of Russia, its agricultural producers, fertilizer producers, and ultimately, of course, we are doing this, and taking into account the general situation on the global food market, it is quite volatile,” said the Deputy Foreign Minister (quoted from “ RIA News”).

According to Mr. Vershinin, Russia at the meeting in Istanbul proceeded from the fact that the grain deal was extended for 60 days – until May 18. The Deputy Foreign Minister specified that the Russian side is dissatisfied with the way the second part of the grain deal, related to the export of Russian agricultural products, is being satisfied.

In July 2022, the Black Sea Grain Initiative was signed in Istanbul, valid for 120 days with the possibility of extension, in March, according to the Russian side, it was extended for 60 days. Negotiations are currently underway to further extend the grain deal.

Among the main conditions of Moscow for the next extension of the agreements is the return of Rosselkhozbank to the SWIFT international payment system and the restoration of ammonia supplies through the Togliatti-Odessa pipeline. Earlier today, on May 11, TASS, citing a source, reported a high probability of extending the grain deal for two months.

Read more about the negotiations on the extension of the grain deal – in the material “Kommersant” “SWIFT in exchange for food.”

Erdni Kagaltynov