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CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.
The first ship carrying previously blocked Ukrainian grain, the Sierra Leone-flagged Razoni carrying over 26,000 tonnes of corn, left Odesa, transited the Black Sea under escort, cleared inspection in Istanbul and passed into the Sea of Marmara on its way to Lebanon. Ukrainian President Zelensky called the news “the first positive signal that there is a chance to stop the spread of the food crisis”; Russia called it “very positive” as well. However, Zelensky also warned against “the illusion that Russia will simply refrain from trying to disrupt Ukrainian exports.” Turkey, which is conducting the inspections through a Joint Coordination Center in Istanbul, said that “[t]he plan is for a ship to leave every day. If nothing goes wrong, exports will be made via one ship a day for a while.” Clearing out the ships currently docked in Ukrainian ports would take just over two weeks and export nearly 580,000 tonnes of Ukrainian grain.
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