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Black Sea Grain Deal Extended for 4 Months

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Commercial vessel carrying grain under the Black Sea Grain Initiative set sail  

Ukraine government has announced that the Black Sea Grain Initiative has been extended for 120 days.

Ukrainian Deputy Prime Minister for Restoration – Minister for Communities, Territories and Infrastructure Development Oleksandr Kubrakov said, “The grain initiative agreement has been extended for another 120 days.”

“This means that Ukraine continues to export its agricultural products through three deep sea ports. In particular, from August 1 until today, we sent 25 million tons for the needs of the world,” the minister said.

At the same time, according to him, the main challenge is to speed up inspections in Turkey. This will allow the world to get even more Ukrainian agricultural products.

“We are also continuing work on involving Mykolaiv region in the ‘grain initiative’ and expanding the range of cargo. Ukraine was and remains firmly embedded in the world economy and markets. The ability to export more will allow removing inflationary risks, and as a result, social tension in many countries of the world,” Kubrakov added.

In Istanbul on Nov.17, 2022, Ukraine, the United Nations, and Turkey agreed to extend the initiative for the safe transportation of agricultural products across the Black Sea for another 120 days.

The initiative was launched on July 22, 2022, and the first ship carrying Ukrainian foodstuffs left the port of Odesa on August 1.

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