What is Black Sea Grain Initiative?
The Initiative on the Safe Transportation of Grain and Foodstuffs from Ukrainian ports, also called the Black Sea Grain deal Initiative.
Which countries are the signatories of this initiatives?
Ukraine, Russia, Turkey, and United Nations.
What are the objectives of this initiative?
- It sought to create a safe passage of food grains exported from Ukraine.
- Export of grain, food and fertilizers will be allowed to resume from Ukraine via a “safe maritime humanitarian corridor” from three key Ukrainian ports i.e., Chornomorsk, Odesa, and Yuzhny/Pivdennyi.
What are the Significance/outcomes of this initiatives?
- Ukraine is among the largest exporters of wheat, maize, rapeseed, sunflower seeds and sunflower oil, globally.
- Approximately 9.8 million tonnes of grains have been shipped
- People hoarding the grain in the hope of selling it for a sizable profit owing to the supply crunch were now obligated to sell.
- The initiative has also been credited for having made a huge difference to the global cost of living crisis.
- The shipment of grain and food stocks into world markets will help bridge the global food supply gap and reduce pressure on high prices.
What is the Significance of Black Sea for Russia?
- Domination of the Black Sea region is a geostrategic imperative for Moscow.
- Black Sea has traditionally been Russia’s warm water gateway to Europe.
- For Russia, the Black Sea is both a stepping stone to the Mediterranean.
- It acts as a strategic buffer between NATO and itself.
- It showcases the Russian power in the Mediterranean and to secure the economic gateway to key markets in southern Europe.
- Russia has been making efforts to gain complete control over the Black Sea since the Crimean crisis of 2014.
Read more : Samarkand Declaration
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