Tag #Agriculture Exports

What are the immediate consequences of the Russia-UN memorandum expiring without extension, and how does it affect global food security?

The Russia-UN memorandum on Russian agricultural exports, signed in July 2022 and set to expire on July 22, 2024, will not be extended. Despite efforts by both parties, Western sanctions hindering Russian food and fertilizer exports significantly hampered the agreement's effectiveness. Russia, however, maintains its commitment to providing humanitarian aid, having sent 200,000 tons of wheat to six African countries and over 160,000 tons of fertilizers to five other nations last year.