A peek at Black Sea Grain Initiative – A gamechanger for Ukraine ports

By Anusha  | Date: September 25, 2022

A peek at Black Sea Grain Initiative – A gamechanger for Ukraine ports

Amid the ongoing high-level meetings between world leaders at the United Nations headquarters in New York City, seven naval vessels carrying valuable crops quietly departed from key Ukrainian ports recently.

The seven ships set sail, as a part of the Black Sea Grain Initiative, which was a result of intense negotiations held between the representatives of Russia, Ukraine, the United Nations, and Turkey. It was a landmark deal wherein the primary motive was to create a sea corridor in Istanbul which would play a vital role in easing the naval blockades initiated by Russia, and also reopen three crucial Ukrainian ports.

It is worth mentioning that as soon as the war erupted between Russia and Ukraine, the former tightened the restrictions on key naval ports of Ukraine. The supply disruption prompted the already-rising prices even higher, contributing to a global food shortage.

Together with soaring energy prices, emerging economies were driven to the brink of debt default, and an expanding proportion of the population faced mass starvation.

For the unversed, under the deal, Ukraine would be allowed to export grain, fertilizers such as ammonia, and other food items from the ports of Yuzhny/Pivdennyi, Chornomorsk, and Odesa to the rest of the world.

Interestingly, before the war erupted both Russia and Ukraine accounted for close to a quarter of worldwide grain exports until those shipments were abruptly halted for nearly six months in light of the ongoing tensions between both countries.

Notably, the first vessel has already departed from the Ukrainian port of Odesa on 1st August and is bound to supply more than 26,000 metric tons of corn to key nations across the globe.

Besides, more than 180 ships aimed at transporting 4.2 million metric tons of agricultural supplies have left the ports of Ukraine.

 

Source Credits: - https://www.msn.com/en-us/news/world/a-look-at-the-black-sea-initiative-the-u-n-backed-deal-that-helped-reopen-ukraine-s-ports-to-feed-countries-around-the-world/ar-AA1280ZN

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Anusha     ibmag.com

Anusha

As a voracious reader and thinker, employing words has always been my preferred method of narration. Anusha’s conviction that a drop of ink possesses the ability to influence even the most stubborn minds has been strengthened by completing a Master’s degree in Engl...

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