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Global Economy

Grain exports: Lavrov calls on Ukraine to demin ports

Moscow and Kyiv are blaming each other for the dispute over the blockade of Ukrainian grain in Black Sea ports. Russia's Foreign Minister Sergey Lavrov said Ukraine refuses to mine its ports or otherwise allow cargo ships to pass through.

According to Ukrainian information, more than 23 million tons of grain and oilseeds cannot be exported and President Volodymyr Zelenskyy blames Russia for this: "Millions of people on different continents are threatened by food shortages, even famine. Russia bears responsibility for this. Europe is going through a serious energy crisis. And we don't even know what else Russia is up to."

In his video speech at the OECD conference in Paris, Zelenskyy called for Russia to be expelled from the FAO, the Food and Agriculture Organization of the United Nations. Former ECB chief and Italian Prime Minister Mario Draghi told the OECD conference: "Our efforts to prevent a food crisis must start from Ukraine's Black Sea ports. We must free the millions of tons of grain stuck there because of the conflict. We must give President Zelenskyy the reassurances he needs that the ports will not be attacked."

Ukraine is the fourth largest grain exporter in the world and was almost the third largest before the war (after Russia and the USA).

The industrialized nations organization OECD had downgraded its growth forecast for the global economy significantly the day before because of the war in Ukraine.

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