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The European Council called for the extension of the Black Sea initiative under the auspices of the UN


Juillet, 17 2023
watermark Economic news

European Council President Charles Michel expressed hope that UN Secretary General Antonio Guterres will be able to extend the grain deal.


Charles Michel noted that the Black Sea grain deal, brokered by UN Secretary General Antonio Guterres, is very important, especially for the least protected states. Together with the solidarity mechanisms of the European Union, this deal helps to provide grain and fertilizers to the most needy countries. Therefore, the European Council supports all Gutterisch's efforts to ensure the continuation of this agreement.


Earlier, the press secretary of the President of Russia Dmitry Peskov announced the suspension of the Black Sea initiative until the Russian parts of the agreement are implemented. 


Earlier, Russian President Vladimir Putin said in a conversation with South African President Cyril Ramaphosa that the main purpose of the deal – the supply of grain to third countries – is not being fulfilled by the European side. 


Recall that the grain deal was signed in July 2022 and provides for the export of food and fertilizers from Ukraine through the Black Sea. It is part of a broader package of agreements. According to the Kremlin, the second part of the agreement, namely the memorandum between Russia and the UN on lifting restrictions on the export of Russian agricultural products, will not be implemented by Russia until the first part is fulfilled.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.