April 17, 2024 1:23 pm
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Ukraine Grain Deal Collapse: Okonjo-Iweala Speaks Out, Highlights Impact on Poor Countries

The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, expressed her disappointment on Monday regarding Russia’s decision to halt its participation in the Black Sea Grain Initiative.

In a tweet, Okonjo-Iweala emphasized that the termination of the deal would especially impact poor countries the hardest. She stated that the Black Sea trade in food, feed, and fertilizer plays a crucial role in maintaining global food prices, and she urged for hope in the possibility of renewal.

Russia made the announcement earlier, stating that it would no longer cooperate with the deal that facilitated the safe export of Ukraine’s grain from the Black Sea. The initiative, brokered by the United Nations and Turkey in July 2022, aimed to address a global food crisis following Russia’s invasion of Ukraine, a key grain exporter. The agreement allowed for commercial food and fertilizer exports from three major Ukrainian ports in the Black Sea: Odesa, Chornomorsk, and Yuzhny/Pivdennyi.

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