🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Turkey to discuss 'new mechanism' for Ukraine Black Sea grain exports with Russia - minister

Published 02/04/2024, 02:16 PM
Updated 02/04/2024, 02:23 PM
© Reuters.

ANKARA (Reuters) - Turkish President Tayyip Erdogan will discuss a new mechanism to allow Ukrainian grain exports through the Black Sea with his Russian counterpart Vladimir Putin during his upcoming visit to Turkey, Foreign Minister Hakan Fidan said on Sunday.

Putin is expected to visit Turkey on Feb. 12 to meet Erdogan, a Turkish official previously said, in what will be the Russian leader's first trip to a NATO ally since Moscow's invasion of Ukraine in February 2022.

There are efforts to find "new methods" to transport Ukrainian grain to the world markets, Fidan said in an interview with private A Haber television.

"The previous grain deal worked within a certain mechanism, now it has been seen that there is a possibility of going with a different mechanism, and now there are efforts to concretise this possibility," Fidan said, adding that Erdogan will raise this issue in his meeting with Putin in Turkey.

Ankara has sought to persuade Russia to return to the Black Sea Grain Initiative, which Moscow pulled out of in July 2023, a year after it was implemented. The accord was brokered by the United Nations and Turkey to provide safe passage to exports from Ukrainian ports.

Kyiv has said talks were underway to revive the deal, but Moscow said there was no prospect of reinstating it.

Fidan said some ships had managed to transport Ukrainian grain from the Black Sea, even without the accord in place.

"We want to make clear this de-facto (situation) with the new mechanism," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.