COMMODITIES(B-Trams):
TURKEY: An agreement of negotiations between Russia and Ukraine about the exports of grain this deal extend an additional 120 days. this agreement mediated by Turkey, to allow Ukrainian grain to be exported from Black Sea ports.
While as per details, the agreement earlier also mediate by the United Nations and Turkey with Russia and Ukraine in July. In November, that extends for an additional 120 days to combat a global food crisis that was fueled in part by Russia’s invasion of Ukraine on February 24, 2022, and blockade of the Black Sea grain .
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Also United Nations said in a statement that the Black Sea Grain Initiative, which signed in Istanbul on July 22, 2022, and extended. It thanked the Turkish government for its diplomatic and operational support of the deal.
However, The grain corridor agreement set to end today. In a speech delivered in the western city of Canakkale, Turkish President Tayyip Erdogan stated, “We have secured an extension to this deal as a result of our talks with the two sides.”
The agreed-upon extension’s duration not specified in either Erdogan or the UN statement.
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Ukraine demanded a 120-day rollover, whereas Russia wanted to extend the agreement for only 60 days, which was half the original length.
Oleksandr Kubrakov, minister of infrastructure in Ukraine, stated that the agreement had been extended for 120 days.
Kubrakov tweeted, “The Black Sea Grain Initiative agreement is extended for 120 days.” Thankful to UN General Secretary Antonio Guterres, the UN, President Erdogan, Minister Hulusi Akar, and all of our partners for adhering to the agreements, he continued.
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