35 million tons of wheat will arrive on global markets as the price drops to pre-war levels. The pact is the fruit of Turkish diplomacy, the US and the Kremlin applaud. Guterres: “This agreement is a beacon in the Black Sea”.
Wheat stopped in ships on the Black Sea will be able to resume its journey to feed the world. The turning point comes from Istanbul, where today an agreement is signed for three export corridors of Ukrainian wheat, stopped in ports since the war began 149 days ago. Ukraine and Russia, under the aegis of the United Nations, have put a stop to the global food crisis caused by the conflict. Kiev itself will ensure the safety of the corridors from Odessa and two other ports under its control, Pivdenny (Yuzhiy) and Chornomorsk. Kyiv signs first.
The agreement allows the country victim of the Russian attacks to resume shipments of wheat from the Black Sea to world markets of which it is among the first exporting countries in the world and at the same time allow Russia to export fertilizers. The pact ends the stalemate that has threatened world food security for months, and could be seen as a first sign of détente in view of an end to the conflict. After the signing, a hope for peace in the unexpected handshake between the Russian and Ukrainian ministers. But the merit of the mediation goes to Recep Tayyip Erdogan, who thus collects a first success: “We are ready to give good news to the whole world”, said the Turkish president. “This war will have neither winners nor losers,” he added. The sumptuous Dolmabache palace is the setting for the signing ceremony. There is the Secretary General Antonio Guterres, there are the Russian Defense Minister Shoigu, his Turkish counterpart Hulusi Akar and the Ukrainian Minister of Infrastructure Alexander Kubrakov.
“There have been grueling negotiations, but this agreement is in the interest of the world and above all of developing countries, which are severely tested by the lack of grain and cereals. This agreement is a beacon in the Black Sea,” said Guterres.
The pact provides for the establishment of a control center in the city of the Bosphorus, made up of United Nations officials, Turks, Russians and Ukrainians, who will manage and coordinate grain exports. The ships will be inspected to make sure they are carrying grain and fertilizer and not weapons. According to rumors, the agreement does not provide for military stocks for grain ships.
On the sidelines of the signing of the agreement, the Russian minister discussed with his Turkish colleague also from Syria, insisting that US troops are illegally present in the country and affirmed that it is necessary to maintain the ceasefire, as was underlined by the part. the need for an urgent ceasefire in Ukraine.
United States that today applaud the agreement between the warring countries, the spokesman of the State Department, Ned Price and also the Kremlin, through the TASS, said that the signing of the contract with Ukraine is “important” for unblocking the food crisis. At least 35 million tons of wheat that will arrive on global markets. “In a first phase, it is expected that thanks to the agreement, the ships with food products that were blocked in Ukrainian ports will be unblocked. There are about 80. According to our calculations, this will help deliver about 35 million tons of grain to markets. in the coming weeks, “the source said. The source stressed that “among the most important components of the agreement are the safety guarantees for dry cargo ships, so that they can leave Ukrainian ports unhindered”.
The solution between Ukraine and Russia on wheat also changes on the markets, with the price of cereal immediately falling to pre-war levels: soft wheat is traded at $ 784.5 for every single contractual unit of 5 thousand bushels (-2.64 %), as last February 16, a week before Moscow’s attack on Kiev. The dynamics of durum wheat are similar (-2.32% to 841.25 dollars per 5 thousand bushels), just below the closing date of last February 18th.