Russian President Vladimir Putin has promised to share the profits from rising grain prices with Africa and other impoverished countries, as the cost of grain continues to surge following Russia’s departure from the Black Sea Grain Initiative. During a press conference in St. Petersburg on Saturday, Putin sought to woo African leaders by assuring them that Russia would assist developing nations by distributing its profits from the spike in grain prices. Both Russia and Ukraine are major grain exporters.
This announcement comes in the wake of several African leaders urging Putin to end the conflict in Ukraine and reinstate the United Nations-brokered grain deal. South African President Cyril Ramaphosa expressed his concern over the ongoing conflict, stating that it has a negative impact on African nations.
Despite Putin’s statement that Moscow can replace Ukrainian grain exports to Africa and provide tens of thousands of tons of grain to six countries within months, U.N. Secretary-General Antonio Guterres warned that these efforts are insufficient to counteract the adverse effects of the canceled Black Sea grain deal.
Under the Black Sea agreement, the World Food Program had purchased and shipped 725,000 metric tons of grain to countries such as Afghanistan, Djibouti, Ethiopia, Kenya, Somalia, Sudan, and Yemen over the past year. This trade deal allowed the WFP to increase its wheat purchases from Ukraine to 80% for this year, up from 50% in previous years. The termination of the agreement was intended to combat global hunger exacerbated by Russia’s invasion of Ukraine.
Since Russia’s exit from the agreement on July 17, global wheat prices have risen by approximately 9%. Simultaneously, Russia has intensified its attacks on Ukrainian ports and grain infrastructure along the Black Sea and Danube River.
However, Ukraine is currently making strides in its counteroffensive against Russia. Ukrainian forces launched a large-scale attack south of Orikhiv in Zaporizhzhia Oblast, the area where Russian defensive lines are strongest. Ukrainian President Volodymyr Zelenskyy released a video in which soldiers claimed to have taken control of Staromaiorske in the Donetsk region, marking another victory in their advance.
Despite these advances, fighting continues along the more than 1,000-kilometer front, with Ukraine utilizing Western weapons to push back Russian forces. However, Ukraine lacks crucial air support, and Russia remains firmly entrenched in the region.
Putin stated during the press conference that there have been no significant changes in the Ukrainian front for now. However, Russia continues to launch attacks, as evidenced by recent missile strikes in the southern Ukrainian city of Zaporizhzhia and the northeastern city of Sumy. These attacks resulted in civilian casualties and damage to buildings.
In order to address the escalating grain crisis and ongoing conflict, Putin’s promise to share grain profits with Africa and other impoverished nations is a step towards finding a solution. However, it remains to be seen how effective these measures will be in mitigating the impact of rising grain prices and resolving the conflict in Ukraine.
