Commodities

Erdogan says he is in agreement with Putin that grain deal should be extended

ISTANBUL (Reuters) – Turkish President Tayyip Erdogan said on Friday that he is in agreement with Russian President Vladimir Putin that a deal allowing the Black Sea export of Ukraine grain should be extended.

Speaking to reporters, Erdogan said that the deal will hopefully be extended from its current July 17 deadline as results of the efforts by the United Nations and Turkey.

The European Commission is helping the United Nations and Turkey try to extend the grain deal and is open to “explore all solutions”, a European Union spokesperson said on Thursday.

The U.N. and Turkey brokered the Black Sea Grain Initiative with Russia and Ukraine in July 2022 to help alleviate a global food crisis worsened by Moscow’s invasion and blockade of Ukrainian ports. Ukraine and Russia are among the world’s leading grain exporters.

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