The Black Sea wheat trade: Navigating political turmoil and supply shortages
Commodities Focus
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Russia and the Black Sea Initiative
The initiative will have to be renewed every 120 days, so the next time to renew it is in March. I would expect that later on Russia will try to either pull out of the agreement again or try to use it in its benefit again. We know that ammonia pipeline goes through territory of Ukraine into a usually port and since the beginning of the war, it stopped because of which Russia cannot sell its ammonia - this also lower their income from this area.
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