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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Economy

Economy

Russia’s Lavrov warns West: Black Sea grain deal may fail.

Russian Foreign Minister Sergei Lavrov takes part in a meeting of the CIS Council of Foreign Ministe... Russian Foreign Minister Sergei Lavrov takes part in a meeting of the CIS Council of Foreign Ministers in Samarkand, Uzbekistan April 14, 2023. Russian Foreign Ministry/Handout via REUTERS
Russian Foreign Minister Sergei Lavrov takes part in a meeting of the CIS Council of Foreign Ministe... Russian Foreign Minister Sergei Lavrov takes part in a meeting of the CIS Council of Foreign Ministers in Samarkand, Uzbekistan April 14, 2023. Russian Foreign Ministry/Handout via REUTERS

On Monday, Russia said the Black Sea grain deal would end unless the U.N. honored its pledge to remove barriers to Russian grain and fertilizer exports.

“If everything remains as it is, and apparently it will, then it will be necessary to proceed from the fact that it [the deal] is no longer functioning,” Russian Foreign Minister Sergei Lavrov said in Nairobi.

Last July, the UN agreed to support Russia with grain and fertilizer exports for three years.

Lavrov stated that the deal was not being honored “at all.”

Following Russia’s February 2022 invasion, the UN-Russia agreement allowed Ukraine to transport grain and fertilizer over the Black Sea.

This month, Moscow reluctantly extended the Black Sea grain pact for two more months, until July 17, but stressed more progress was needed to serve its interests.

Lavrov said only 3% of the deal’s grain reached the world’s poorest countries.


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