INSEAD Day 4 - 728x90

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With no deal in place with Ukraine, Russia starts grain supply initiative

Russian President Vladimir Putin. (WAM)
  • The initiative was initially proposed by Russian President Vladimir Putin, who pledged to provide one million metric tons of grain at a preferential price
  • Vershinin stated that practical steps are now being taken, including communication with the involved parties to establish a trilateral agreement

Moscow, Russia – Russian Deputy Foreign Minister Sergey Vershinin has confirmed the commencement of the implementation of the Russian grain supply initiative, which aims to deliver one million metric tons of grain to countries in need, Russian news agency TASS reported on Friday.

Vershinin stated that practical steps are now being taken, including communication with the involved parties to establish a trilateral agreement. Expert-level meetings involving representatives from all three sides are also currently in progress.

The initiative was initially proposed by Russian President Vladimir Putin, who pledged to provide one million metric tons of grain at a preferential price. The grain will be processed in Turkey and subsequently shipped free of charge to the world’s poorest nations. 

President Putin has also expressed his hope for support from Qatar in this important endeavor.