Russia ready to extend Black Sea grain deal, but for 60 days: Deputy FM

Russia's Deputy Foreign Minister SergeyVershininhas said that Russia was ready to extend Black Sea grain deal. However, he said the extension will only be of 60 days.

"The Russian side... does not object to another extension of the 'Black Sea Initiative' after its second term expiration on March 18, but only for 60 days," he said in a statement issued by the Russian mission in Geneva following the negotiations at the UN's Palais des Nations.

"Our further stance will be determined upon the tangible progress on normalisation of our agricultural exports, not (in) words, but in deeds."

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"It includes bank payments, transport logistics, insurance, 'unfreezing' of financial activities and ammonia supplies via the Tolyatti-Odessa pipeline."

Russia invaded Ukraine on February 24 last year. This had disrupted the grain export from Ukraine which is also referred to as 'bread basket of the world'. This had raised the spectre of a global food crisis due to grain shortage.

The United Nations and Turkey had brokered a deal which, for some time let shipments of Ukrainian grain pass unimpeded through the Black Sea.

The initial 120-day agreement was extended once in November, and was due to expire on March 18, and the Kremlin had cast doubt on whether it would agree to a fresh extension, claiming that the twin deal on Russian exports was not being respected.

The latest signals from the Russian side may indicate softening of Russian stance. But it is premature to say at this point that the deal is fully restored.

More than 24.1 million tonnes have been exported under the UN and Turkey-brokered Black Sea Grain Initiative (BSGI), according to the United Nations.

(With inputs from agencies)

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