Reuters writers Nigel Hunt and Jonathan Saul reported yesterday that, “Russia has proposed that a U.N.-backed initiative that has enabled grains to be exported from Ukraine’s Black Sea ports should be renewed for just 60 days. Shipping companies are already holding off from charters through the corridor until more is known over the outcome of the current talks, industry sources said. Earlier this week, Turkish Defence Minister Hulusi Akar indicated support for a 120 extension of the Grain Initiative. Grateful to Türkiye as the signatory of the #BlackSeaGrainInitiative and personally to Minister Hulusi Akar for unwavering adherence to the previously signed Agreement and support of the extension for 120 days. Russia wants the deal to remain active for only 60 days, while Ukraine is holding to 120 days, the length of the current renewal.

Source: Wall Street Journal March 16, 2023 23:48 UTC