Current Affairs Exam

Russia withdraws from Black Sea Grain Initiative

Russia recently pulled out of the Black Sea Grain Deal, which was launched to mitigate food caused by conflict in Ukraine.

Ukraine and Russia account for roughly 30 per cent of the worlds exported wheat and barley, one fifth of its maize, and over half of its sunflower oil.

Russia is also the worlds largest exporter of Fertilizers, accounting for 15 per cent of global exports.

The Black Sea Grain Initiative was signed by the UN, Ukraine, Russia and Trkiye during a ceremony in Istanbul in July. Under the deal, ships transporting grain from three Ukrainian Ports travel along an agreed corridor to markets worldwide

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