Wheat prices soar after Russia allows UN-brokered Black Sea grain deal to expire

A humanitarian corridor that allowed Ukrainian grains to be exported to global markets has ended after Russia let the United Nations-brokered deal lapse this week.

Russia officially confirmed that the deal has been “terminated,” which sent wheat prices spiking. And the decision is final, meaning there are no more planned grain deals on the Black Sea.

The end of the deal also means that guarantees for safety of navigation issued by Russia will also be revoked, this according to documents Russia sent to shipping company IMO.

In addition to the grain deal ending, Russia further told IMO that proactive necessary actions and response measures are needed to neutralize threats posed by the Volodymyr Zelensky regime in Kyiv.

Known as the Black Sea Grain Initiative, the deal was first implemented in July 2022 in response to Vladimir Putin’s invasion of Ukraine. It was extended multiple times for short increments until Russia finally put it to an end.

“The Black Sea agreements ceased to be valid today,” reads a statement from Dmitry Peskov. “As the President of the Russian Federation said earlier, the deadline is July 17.”

“Unfortunately, the part relating to Russia in this Black Sea agreement has not been implemented so far. Therefore, its effect is terminated.”

(Related: A recent study found that Ukraine’s farming sector will not recover back to pre-war levels for at least the next 20 years.)

Russia says grain deal can resume if Kyiv removes naval mines from Black Sea

It is speculated that Russia timed this termination strategically as Kyiv is failing miserably in its counteroffensive. Unless certain conditions for resumption are met, Ukraine will no longer be allowed to export its grains via the Black Sea.

Peskov made clear that one of those conditions is the removal of naval mines, which Kyiv placed in the Black Sea to attack Russia. In other words, Russia will not even consider playing ball unless and until it regains the ability to safely export its own foodstuffs.

“As soon as the Russian part is completed, the Russian side will return to the implementation of this deal immediately,” Peskov said, adding that the agreement as it previously existed has “been de facto stopped.”

Right before the deal’s cancelation, Ukraine’s military and security services used sea surface drones to attack the Crimean Bridge, also known as the Kerch Strait Bridge, which connects the Crimean Peninsula to the Russian region of Krasnodar.

The Crimean Bridge was an important supply artery for Russia, the destruction of which means that Russia can no longer use it. Not long after, the Black Sea Grain Initiative was terminated, probably in retaliation.

Peskov says Russia was already planning to end the deal even before the “terrorist attack,” which killed two civilians. The following video shows the family car that was destroyed by Kyiv, resulting in the deaths of both parents and critical injury of the child.

“The family was on their way to summer holidays,” it was reported. “Ukraine media confirm Ukraine stands behind the attack.”

A family car is struck during the sea drones attack on the Crimea bridge. Parents tragically lost their lives, while doctors are fighting to save the child. The family was on their way to summer holidays. Ukraine media confirm Ukraine stands behind the attack… pic.twitter.com/JzO4sVFD4M

— Russian Market (@runews) July 17, 2023

The Biden regime is taking Ukraine’s side, of course. Secretary of State Antony Blinken says Moscow has been using the grain deal as “a weapon,” while Putin claims that much of the grain flowing out of Ukraine through the Black Sea is not even going to the countries most in need of it.

Is the world headed towards famine and starvation? Learn more at Collapse.news.

Sources for this article include:

ZeroHedge.com

Newstarget.com