“The Russian Federation has once again effectively stopped (the grain initiative) by refusing to register and conduct inspections of incoming vessels. This approach contradicts the provisions of the current agreement,” the ministry said in a statement. communicated.
The ministry said 90 vessels, including 62 grain loading vessels, are waiting in Turkish territorial waters until they are allowed to enter Ukrainian ports.
Wheat futures for the month of July saw an increase in trading on the Chicago Mercantile Exchange of more than 3% at 12:30 GMT.
The United Nations announced last week that the parties to Ukraine’s grain export initiative had failed to reach an agreement to allow any new vessels to carry exports through the Black Sea.
Farhan Haq, deputy spokesman for the United Nations, said Ukraine, Russia, Turkey and the international organization failed to reach an agreement to allow any new ship to carry Ukrainian grain exports across the Black Sea, noting that daily inspections of previously authorized vessels would continue.
The United States had authorized JPMorgan to handle the first batch of payments to the Agricultural Bank of Russia, which was cut off from the global SWIFT system by the European Union in June due to the outbreak of war in Ukraine in 2022.
After this payment, Reuters reported that the bank could process another 40 payments for Russian grain exports, after comments from a Russian source confirmed that this temporary arrangement could not replace the bank’s reconnection to the SWIFT system for financial transactions.
Reconnecting to SWIFT is one of Russia’s key demands in negotiations over the future of the grain export deal across the Black Sea, which the United Nations says is helping solve a global food crisis exacerbated by the war in Ukraine.
The Kremlin has repeatedly warned that the deal is falling apart and will not be renewed after May 18 unless the West eases barriers to Russian grain and fertilizer exports, including export financing and insurance.
In recent days, the Ukrainian authorities have already complained about the existence of obstacles to the departure of grain ships from their ports.
Ukraine, one of the world’s largest grain exporters, is also desperately dependent on income from the sale of grain, having been financially depleted by the war with Russia.
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