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Poor countries worst hit by Ukraine grain deal collapse – Okonjo-Iweala

THE Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, yesterday faulted Russia’s decision to stop taking part in the Black Sea Grain Initiative.

The former finance minister tweeted her disappointment yesterday, stating that poor countries would be hit the worst by the deal’s cancellation.

“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 tweeted.

“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.”

Earlier, Russia declared it would no longer participate in a pact that permitted the secure export of grain from Ukraine over the Black Sea.

Channels Television stated that the United Nations and Turkey mediated the Black Sea Grain Initiative.

The project was launched in July 2022 to help alleviate a world food crisis following Russia’s invasion of Ukraine, a close neighbor and important grain exporter.

The agreement permitted commercial exports of food and fertilizer, including ammonia, from three important Black Sea ports in Ukraine: Odesa, Chornomorsk, and Yuzhny/Pivdennyi.

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