Turkey Announces Extension of Grain Agreement

Wednesday, May 17, 2023
Turkey Announces Extension of Grain Agreement

Ukraine and Russia have not yet confirmed the data

On May 17, the president of Turkey announced the extension of the grain agreement. 

"Thanks to the efforts of our country, the support of our Russian friends and the contribution of our Ukrainian colleagues, it was decided to extend the agreement on the Black Sea Grain Corridor for another 2 months," Ercep Erdogan.

In July 2022, Ukraine and Russia signed mirror contracts with the UN and Turkey but have not signed a common agreement. The GA made it possible to export Ukrainian grain from several ports on the Black Sea. A partial recovery in exports helped to avoid an acute shortage and slightly level grain prices. Russia, initially blockading Ukrainian ports for terrorist purposes, has repeatedly threatened to withdraw from the agreement if the world does not follow its terms regarding fertilizer exports.

Today, the final decision on the extension or non-renewal of the grain agreements was made.

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