The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has faulted Russia’s decision to halt 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.
Russia said it would no longer cooperate with a deal that allowed the safe Black Sea export of Ukraine’s grain.
The deal, known as 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.
“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,” Okonjo-Iweala said on her official Twitter handle .
“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.”