Global Food Crisis Averted as Ukraine Grain Deal Extended

The Black Sea grain deal, which enables the safe passage of ships from Ukraine and has been crucial in stabilizing global food prices, has been extended for two months after urgent talks in Istanbul. The deal was initially brokered in July 2022 to avert a global food crisis following Russia's invasion of Ukraine. The deal has been renewed for a third time after Russia threatened to quit the pact and cited a list of demands. The deal's survival rests in Russia's hands, and the Kremlin has warned it would scrap the deal if the Group of Seven nations imposed further bans on exports to Russia as part of sanctions over its invasion of Ukraine.