"Global Food Security at Risk: Russia's Potential Exit Threatens Expired Grain Deal"

The pact allowing safe Black Sea grain exports from Ukraine will expire on Monday if Russia does not agree to extend the agreement brokered by the United Nations and Turkey. Russia's invasion of Ukraine and blockade of its Black Sea ports have caused global grain prices to soar. Russia has threatened to quit the pact due to unmet demands regarding its own grain and fertilizer exports. The United Nations argues that the arrangement has helped lower food prices globally by over 20%. The UN Secretary-General has made a final effort to convince Russian President Putin to extend the deal in exchange for the EU connecting a subsidiary of a Russian bank to SWIFT for grain and fertilizer transactions.