Implications of the Grain Deal between Russia and Ukraine

Interview with Dr Oane Visser by Dutch news agency NOS
Wheat field

Oane Visser was interviewed about the Grain Deal between Russia and Ukraine, brokered by Turkish president Erdogan and UN secretary general Guterres last Friday in Istanbul.

The agreement, on paper at least, lifts the blockade of the export of Ukrainian grain via its sea ports.

Visser commented on the implications of this agreement for global food security, stating that it allows both Ukrainian, as well as Russian grain (the latter was officially excluded from the Western sanctions, but was in practice difficult to trade due to e.g. obstacles with financial transactions) to enter the global market again.

This has already led to a decline of the grain price, which is good news for wheat import dependent countries in North Africa and the Middle East. However, after the initial optimism about the breakthrough, grain prices could rise again as the deal might be difficult to realize in practice.

This article is only available in Dutch - Oekraïne en Rusland tekenen akkoord met VN over graanexport. NOS nieuws, 22 July 2022


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