What Is Black Sea Grain Initiative?
Russia re-joined the Black Sea Grain Initiative.
- The Black Sea Grain initiative endeavours to tackle escalating food prices emanating from supply chain disruptions because of Russian actions in the world’s ‘breadbasket’.
- The deal brokered by the United Nations (UN) and Turkey, was signed in Istanbul in July, 2022.
- Initially stipulated for a period of 120 days, the deal was to provide for a safe maritime humanitarian corridor for Ukrainian exports (particularly for food grains).
- The central idea was to calm markets by ensuring an adequate supply of grains, thereby limiting food price inflation.
- The deal put in place a Joint Coordination Centre (JCC), comprising senior representatives from Russia, Turkey, Ukraine and the UN for oversight and coordination.
- All commercial ships are required to register directly with the JCC to ensure appropriate monitoring, inspection and safe passage. Inbound and outbound ships (to the designated corridor) transit as per a schedule accorded by the JCC post-inspection.
- This is done so as to ensure there is no unauthorised cargo or personnel onboard.
- Following this, they are allowed to sail onwards to Ukrainian ports for loading through the designated corridor.