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CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.
After Turkish President Recep Tayyip Erdo?an visited Moscow and military delegations from Russia, Ukraine, and Turkey met with the UN, Turkey announced an agreement designed to permit exports of Ukrainian grain through humanitarian corridors to be set up in the Black Sea; the deal is expected to be signed next week. It involves controls for inspection of grain in ports and a coordination center for the Ukrainian grain export trade in Istanbul with representatives of Ukraine, Russia, and the UN “to carry out general monitoring and coordination of safe navigation in the Black Sea,” according to Andriy Yermak, President Zelensky’s chief of staff. The need is urgent; one report suggests that over 130 ships containing Ukrainian grain are waiting in the Black Sea to enter the Danube and be transported from Romania to other destinations. Exports of Russian fertilizers, though not covered by EU sanctions, are also expected to rise with the new agreement.
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