By Our Correspondent
The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala has faulted Russia’s decision to halt its participation in the Black Sea Grain Initiative.
In a tweet on Monday, the former Minister of Finance expressed disappointment, saying the stoppage of the deal would be felt most severely by poor countries.
“Deeply disappointed at the termination of the Black Sea Grain Initiative and the interruption of the grain trade from Ukraine. I share UN SG Antonio Guterres’ regret and concern,” she tweeted.
“Black Sea trade in food, feed, and fertilizer is critical to the stability of global food prices. Sad to say that poor people and poor countries are hardest hit. Let’s keep hope alive on renewal.”
Earlier, Russia said it would no longer cooperate with a deal that allowed the safe Black Sea export of Ukraine’s grain.
DailyNews24 reports that 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, and Yuzhny/Pivdennyi.