Russia agreed to resume a deal allowing safe passage of Ukrainian crop exports, abruptly reversing course after Turkey and the United Nations pushed ahead with the shipments over Moscow’s objections. Wheat prices dropped on the news.
The Kremlin’s pullout from the agreement on Saturday and Russian warnings over the safety of ships in the corridor had sowed chaos through agricultural markets and sent prices soaring. But as the shipments continued this week — with a one-day interruption Wednesday — despite Russian warnings they could be in danger, Moscow’s leverage appeared limited.
Russia’s Defense Ministry said it was resuming participation in the deal because it had received “written guarantees” from Ukraine that the safe-passage corridor wouldn’t be used for military purposes. Ukraine has long said it wouldn’t use it for such operations.
