[News Terms] Black Sea Grain Initiative Faces Suspension Threat Again After Just One Month

The 'Black Sea Grain Initiative' is an agreement signed on July 22 last year to guarantee Ukraine's grain exports through the Black Sea route, which had been halted due to the Russia-Ukraine war.

The agreement, initially set for a 4-month (120-day) period, was extended for another 4 months just two days before its expiration on November 17 of the same year, and was re-extended on March 18. During the March renegotiations, Russia demanded the easing of Western sanctions against it in exchange for extending the agreement. When this demand was not accepted, Russia limited the extension period to 60 days instead of the original 120 days, and since the sanctions have not been eased, the agreement is expected to expire on the 18th.

Ships waiting for inspection to enter the Black Sea at the southern anchorage of the Bosporus Strait in Istanbul, Turkey.
[Photo by Yonhap News]

Ukraine is a major grain exporting country, so much so that it is called the 'breadbasket of Europe.' It is a key exporter of sunflower oil, corn, wheat, and barley, exporting 95% of its grain through Black Sea ports such as Odesa. However, the ports along Ukraine's Black Sea coast, which supply 45 million tons of grain annually, have been blockaded by the Russian navy due to the Russia-Ukraine war, causing grain prices to surge and threatening the international grain market.

Accordingly, through mediation by the United Nations (UN) and T?rkiye, Russia and Ukraine signed the Black Sea Grain Initiative, under which Russia guarantees the safety of Ukrainian grain export vessels via maritime transport in the Black Sea. According to the agreement, cargo ships have safely navigated designated Black Sea shipping lanes measuring 310 nautical miles in length and 3 nautical miles in width to enter and exit the ports of Odesa, Pivdennyi (Yuzhne), and Chornomorsk. Since the agreement, approximately 24 million tons of Ukrainian grain have been exported through the Black Sea in over 1,600 voyages.

Currently, a total of 90 vessels, including 62 waiting to load grain, are reported to be waiting in Turkish waters to enter Ukraine. Ukraine, Russia, the UN, and T?rkiye are continuing discussions to extend the agreement ahead of its expiration on the 18th, but there has been no progress. This is because Russia is demanding the easing of Western sanctions against it in exchange for extending the agreement that permits Ukrainian grain exports through the Black Sea.