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Turkey will continue to work on extending the «grain deal»


July, 12 2023
watermark Economic news

Turkish President Recep Tayyip Erdogan said that the country intends to continue working on the extension of the «grain deal» and is considering Russia's proposals.


Last summer, Russia, Turkey, Ukraine and the UN signed an agreement on grain supplies to countries in need. However, Moscow has repeatedly stated that the part of the deal concerning Russian exports is not being fulfilled.


Erdogan noted that Turkey is currently negotiating the extension of the Black Sea Initiative. He also noted that thanks to this grain deal, more than 33 thousand tons of grain were brought to world markets. 


Erdogan also stressed that Russian President Vladimir Putin has made a number of proposals on the deal, which will be taken into account in further negotiations. However, earlier, Kremlin spokesman Dmitry Peskov stated that Russia is no longer interested in the deal and there are no grounds for its extension.


The agreement expires on July 17.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.