The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has criticized Russia’s decision to halt its participation in the Black Sea Grain Initiative.
In a tweet on Monday, the Nigeria former Minister of Finance expressed her disappointment, highlighting that the consequences of this decision would be most keenly felt by impoverished nations.
“Deeply disappointed at the termination of the Black Sea Grain Initiative and the interruption of the grain trade from Ukraine. I share UN SG at antonioguterres’ regret and concern,” she wrote.
“Black Sea trade in food, feed & fertilizer is critical to the stability of global food prices. Sad to say that poor people & poor countries are hardest hit. Let’s keep hope alive on renewal.”
Deeply disappointed at the termination of the Black Sea Grain Initiative & the interruption of the grain trade from Ukraine. I share UN SG @antonioguterres’ regret & concern. Black Sea trade in food, feed & fertilizer is critical to the stability of global food prices. Sad to say…
— Ngozi Okonjo-Iweala (@NOIweala) July 17, 2023
GOOD EVENING NIGERIA reports that Russia on Monday said it will not continue participating in the United Nations and Turkey-brokered Black Sea grain deal.
According to Channels Television, the Black Sea Grain Initiative was brokered by the United Nations and Turkey.
The initiative was established in July 2022 to abate a global food crisis after Russia invaded Ukraine — a neighboring country and fellow key grain exporter.
The deal allowed for commercial food and fertilizer (including ammonia) exports from three key Ukrainian ports in the Black Sea – Odesa, Chornomorsk, Yuzhny/Pivdennyi.