Couple of days after Russia suspended its participation in the grain deal that allowed the export of Ukrainian grain, global wheat prices have shot exponentially shot up, rising nearly six per cent.

Couple of days after Russia suspended its participation in the grain deal that allowed the export of Ukrainian grain, global wheat prices have shot exponentially shot up, rising nearly six per cent. Reportedly, Chicago wheat futures, the most active wheat contract on the board stood at $8.77 a bushel on Monday at 0816 GMT which was a jump of 5.8 per cent. It previously touched the high of $8.93 before dropping a touch. The increase in the prices comes in the backdrop of Moscow's decision which has left Kyiv in the lurch. As reported by WION, on Saturday, Russia's defence ministry in a telegram post informed about the decision to pull out of the Black Sea deal. Read more: Russia suspends participation in Ukraine grain deal, cites attack on its fleet in Crimea bay as reason "In light of the terrorist act carried out by the Kyiv regime with the participation of British experts against ships of the Black Sea fleet and civilian vessels involved in the security of grain corridors, Russia suspends its participation in the implementation of the agreement on the export of agricultural products from Ukrainian ports," read the statement. WATCH | Gravitas: Russia-Ukraine discuss grain export crisis × The immediate effect of the suspension is that millions of tonnes of wheat that was bound for Africa and West Asia has been stranded. The western world has accused Moscow of using food commodities, after gas as a means to leverage its position in the ongoing conflict. Meanwhile, Kremlin on Monday released a statement and argued it was all down to the security of the corridor. "In conditions where Russia talks about the impossibility of guaranteeing the safety of navigation in these areas, such deal is hardly feasible. And it takes on a different character, much more risky, dangerous," said Kremlin spokesman Dmitry Peskov. Read more: Russia-Ukraine war LIVE updates: Ukraine targeted by missiles; grain exports restart Notably, after months of jeopardy, a deal brokered by Turkey and the United Nations in July lifted a Russian naval blockade of Ukraine's Black Sea cities and set terms for millions of tonnes of wheat and other grain to start flowing from Ukraine's filled silos and ports. However, experts believe that after facing a few setbacks in the war, Putin is willing to choke the supply route and use the situation to his advantage. (With inputs from agencies) WATCH WION LIVE HERE:

Wheat prices climb nearly six percent after Russia pulls out of Black Sea deal

As Russia&nbsp;continued their operations in the east, Ukraine authorities said&nbsp;Severodonetsk city's frontline has been divided into half amid bitter fighting between Russian and Ukrainian troops.

Lugansk regional governor Sergiy Gaiday had earlier warned that Russian forces were gaining ground in Severodonetsk as both sides were engaged in fighting.

As the food crisis grows due to the Ukraine-Russia war, Russian foreign minister Sergei Lavrov said Western countries had&nbsp;"created a lot of artificial problems by closing their ports to Russian ships, disrupting logistics and financial chains."

<a href="https://www.wionews.com/world/after-eu-bans-imports-of-russian-oil-prices-jump-in-early-asian-trade-483668">Also Read:&nbsp;After EU bans Russian oil imports, prices jump in early Asian trade</a> &nbsp;

"They need to seriously consider what is more important for them: to do PR on the issue of food security or to take concrete steps to solve this problem," Russia's foreign minister added.

Lavrov said after the "demining is resolved" Russia will ensure "unhindered passage" of ships into the "Mediterranean and onwards".

Wheat supply has been hampered ever since President Putin declared the "special military operation" on February 24 with Russia and Ukraine being the main suppliers.

Watch:&nbsp;EU deadlock over Russian oil

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The Russian president had told Turkey's President Erdogan on Monday that his country was ready to ensure maritime shipping from Ukraine to allow wheat supply.

Russia said it will return the bodies of 152 Ukrainian soldiers it claimed to have found in the Azovstal steel plant in Mariupol. Earlier, hundreds of Ukrainian soldiers had surrendered to Russian forces at Azovstal's plant after weeks of heavy fighting.

Amid the war, reports said a court in Ukraine has sentenced two Russian soldiers after finding them guilty of firing artillery in civilian areas.

The Russian soldiers were found guilty of firing Grad missiles on villages in the Kharkiv region. Ukrainian authorities have opened thousands of war crimes cases amid the Russian invasion.

(With inputs from Agencies)

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As Russia continued their operations in the east, Ukraine authorities said Severodonetsk city's frontline has been divided into half amid bitter fighting between Russian and Ukrainian troops.

As Russia continued their operations in the east, Ukraine authorities said Severodonetsk city's frontline has been divided into half amid bitter fighting between Russian and Ukrainian troops. Lugansk regional governor Sergiy Gaiday had earlier warned that Russian forces were gaining ground in Severodonetsk as both sides were engaged in fighting. As the food crisis grows due to the Ukraine-Russia war, Russian foreign minister Sergei Lavrov said Western countries had "created a lot of artificial problems by closing their ports to Russian ships, disrupting logistics and financial chains." Also Read: After EU bans Russian oil imports, prices jump in early Asian trade "They need to seriously consider what is more important for them: to do PR on the issue of food security or to take concrete steps to solve this problem," Russia's foreign minister added. Lavrov said after the "demining is resolved" Russia will ensure "unhindered passage" of ships into the "Mediterranean and onwards". Wheat supply has been hampered ever since President Putin declared the "special military operation" on February 24 with Russia and Ukraine being the main suppliers. Watch: EU deadlock over Russian oil The Russian president had told Turkey's President Erdogan on Monday that his country was ready to ensure maritime shipping from Ukraine to allow wheat supply. Russia said it will return the bodies of 152 Ukrainian soldiers it claimed to have found in the Azovstal steel plant in Mariupol. Earlier, hundreds of Ukrainian soldiers had surrendered to Russian forces at Azovstal's plant after weeks of heavy fighting. Amid the war, reports said a court in Ukraine has sentenced two Russian soldiers after finding them guilty of firing artillery in civilian areas. The Russian soldiers were found guilty of firing Grad missiles on villages in the Kharkiv region. Ukrainian authorities have opened thousands of war crimes cases amid the Russian invasion. (With inputs from Agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

'Do PR or take concrete steps', Russia warns West on food crisis amid east Ukraine fight

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Wheat prices climb nearly six percent after Russia pulls out of Black Sea deal

'Do PR or take concrete steps', Russia warns West on food crisis amid east Ukraine fight