Here comes Istanbul’s twist on wheat. Erdogan: “We have avoided the nightmare of world hunger” – Economy

Key agreement to block grain exports from Ukrainian ports in Istanbul: Ukraine and Russia signed an agreement separately with Turkey and the UN, but no direct agreement between Moscow and Kiev. There are plans to create safe corridors from Odessa and two Ukrainian-controlled ports. Ships carrying grain had no military escort. The deal will help supply at least 25 million tonnes of wheat to global markets. Meanwhile, prices are returning to pre-war levels.Oligarch Roman Abramovich was also present at the signing ceremonySitting in the first rows of chairs in the room set up for the ceremony.

Wheat contract, two separate contracts

Russia will not take advantage of the fact that the Ukrainians have promised to mine and reopen their ports on the Black Sea as part of the Ukrainian grain export agreement to gain military advantage. This was stated by the Minister of Defense Sergei Shoigu

“This is a historic day and we are proud of our role, Together we avoid the nightmare of global “hunger”.The Turkish president said Recep Erdogan.

“Today’s wheat deal is a beacon in the Black Sea”. That’s how UN Secretary-General Antonio Guterres describes the deal in Istanbul between Russia, Ukraine and the UN brokered by Turkey to free grain from Ukrainian ports. “The agreement will stabilize food prices”. UN Secretary-General Antonio Guterres made the announcement at a ceremony broadcast by Turkish state television TRT to mark the signing of an agreement to allow wheat exports through safe channels in the Black Sea. , attended the conference for the conducted mediation.

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This was stated by the President of Ukraine Volodymyr Zelensky The UN is responsible for honoring the treaty. “Everybody understands that Russia may engage in provocations, attempts to discredit Ukrainian and international efforts. But we have faith in the United Nations. Now it is their responsibility to ensure compliance with the agreement,” he said in his evening video address.

Prime Minister Mario Draghi said: “This is great news to the entire international community. Italy has made a strong commitment in recent months to support Turkey’s mediation efforts with a central role for the United Nations. We believe that these agreements represent a first step towards concrete prospects for peace, acceptable to Ukraine. Luigi Di Maio “It’s the opening of a pavement for dialogue, not just a pavement for wheat”.

Wheat prices – Come back In the stages before the Russian attack Wheat price on the day of the agreement between Moscow and Kiev in Ukraine. The dynamics of durum wheat is similar (-2.32% to 841.25 dollars for 5 thousand bushels), below the last February 18 closing date.

About the wheat deal Creating safe corridors from Odessa and two ports under Ukrainian control. This was reported by informed sources cited by TASS, thus confirming yesterday’s rumours. The treaty did not provide military stocks for ships carrying grain. The grain agreement does not require Russian vessels to pick up Ukrainian cargo ships. This was noted by the Ukrainian presidential adviser, quoted by TASS. In addition, according to Ukrainian President Zelensky’s office, cited again by TASS, joint teams will inspect Kiev cargo in the Black Sea.

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The Grain Route Agreement will help deliver At least 25 million tonnes of wheat for world marketsA source in Istanbul told Tass. “Initially, it is expected that the embargo on ships with banned food products in Ukrainian ports will be lifted. They are about 80 people. According to our calculations – he added – this will help supply the world markets with around 25 million tonnes of wheat in the coming weeks. So they can leave Ukrainian ports unimpeded.

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