UN Halts Ukraine's Grain Export Ships After Russia Warning

The United Nations called a halt to ships moving through Ukraine’s crop-export corridor on Wednesday, after Russia warned that vessels weren’t safe using the route.

Wheat prices rose after the UN announced the decision, taken jointly with Turkey and Ukraine. It didn’t explain the reasoning, but it comes after Moscow said on Monday it can’t guarantee ships’ safety and that continued exports without its involvement were “unacceptable.”

Russia suspended its role in the crucial Black Sea export pact over the weekend. The agreement -- signed in July -- guaranteed the safe passage of Ukraine crop exports, which are badly needed by food importers amid surging prices and a global cost-of-living crisis.

Grain vessels continued to leave Ukraine on Monday and Tuesday, even after Moscow withdrew its support for the deal. But the UN said Tuesday those movements were “temporary and extraordinary.”

Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.

Connect with us on…

[Royalearthangel]

We are fed up with cowards. The people expect strength frim our leaders in our democratic countries...
Fed up with Putins threats.