Black Sea Grain Initiative Extended for 2 Months Amid Global Supply Chain Concerns

Turkish President Recep Tayyip Erdoğan announced on Wednesday a two-month extension of the Black Sea Grain Initiative, aimed at ensuring uninterrupted global food supply chains. This agreement, involving Russia, Ukraine, and Turkey, facilitates the export of Ukrainian grain and other agricultural products from Black Sea ports.

Erdoğan expressed gratitude to Russia for allowing Turkish ships to operate from Mykolaiv and Olvia ports. He stressed the “vital importance” of the agreement for countries reliant on grain supplies and vowed to maintain the arrangement by fulfilling all the stipulated conditions.

The Black Sea Grain Initiative, initially signed in Istanbul in July 2022 amid the Ukraine crisis, was extended twice before: by 120 days in November 2022, and 60 days in March 2023. The parallel memorandum between Russia and the United Nations, aiming to facilitate exports of Russian food and fertilizer, has seen limited progress.