Russia has agreed to a 60-day extension of the current Black Sea Grain Initiative with Ukraine which allows the country to ship grain from three Black Sea ports. The deal which was initially reached with the help of the U.N. and Turkey, was reached last July and extended in November. The initial agreement and the extension were for 120-day periods but Russia halving the latest extension shows its frustration that a reciprocal agreement would allow it to ship grain through the Black Sea as well, despite that Russian shipments were near all-time-highs the last quarter of last year.
