Putin Reveals Reasons for Russia’s UN Grain Deal Exit
President Vladimir Putin stated that Russia withdrew from the grain agreement due to the annoyance of exporting free maize to Africa.
Putin stated on Thursday during the opening session of the second Russia-Africa summit that the facts surrounding the grain export agreement have been distorted.
“We were prepared to export grain to Africa for free, but the agreement prevented this. Therefore, we refused to renew the contract that expired on July 17,” he explained.
Putin stated that Russia is prepared to increase cereal exports to Africa and that the continent has the potential to become food secure and export food in the future.
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Putin added, “What Africa needs is technology, and we are willing to share our agricultural technology for the continent’s benefit.”
Somalia, Mali, and Burkina Faso are the nations that will shortly receive free grain.
On July 17, Russia terminated an agreement that guaranteed safe passage for grain shipments through the Black Sea.
As a protest against sanctions imposed on its exports and commerce, Russia has signaled it will not renew the agreement allowing safe passage of Ukrainian exports through the Black Sea until its demands are met.
The reinstatement of the Russian Agricultural Bank (Rosselkhozbank) to the Swift payments system is one of its primary demands.
Wheat prices on the European stock exchange increased by 8.2% on Wednesday, reaching £219.78 (Sh34,906.14) per tonne, while maize prices increased by 5.4%.
Putin Reveals Reasons for Russia’s UN Grain Deal Exit
