Business | Stock Markets | Investing | Economy | Tech | Crypto | India | World | News at Moneynomical

Ukraine War: Zelensky vows retaliation against Russia for missile attack on Odesa

Advertisement

Ukrainian President Volodymyr Zelensky promised on Sunday to respond against Russian forces after Moscow fired missiles at the ancient port of Odesa, killing one person and damaging an Orthodox cathedral. He said, “Missiles against peaceful cities, against residential buildings, a cathedral. There will definitely be a retaliation against Russian terrorists for Odesa. They will feel this retaliation.”

Russia Cancels Grain Deal with Ukraine

A ground-breaking peacetime agreement that permitted grain to travel from Ukraine to regions in Africa, the Middle East, and Asia where famine is a growing danger and high food prices have forced more people into poverty was suspended by Russia earlier last week.

The Black Sea Grain Initiative will be put on hold, according to Kremlin spokesman Dmitry Peskov, until conditions are satisfied for supplying the rest of the globe with Russian grain and fertiliser. He said that the decision was not influenced by a Monday attack on a bridge that connects the Crimean Peninsula to Russia.

Russian agricultural exports have been limited by transportation and insurance constraints, but since last year, the country has transported record amounts of wheat.

As a result of Russia’s invasion of its neighbour, which exacerbated a worldwide food crisis, the U.N. and Turkey reached an agreement last summer to let food exports from the Black Sea region. This agreement has now come to an end with the suspension. The programme is credited with aiding in the decrease of wheat, vegetable oil, and other global food commodity prices that were skyrocketing.

Russia and Ukraine are both significant global producers of wheat, barley, sunflower oil, and other staple foods for developing countries.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More