Moscow is threatening to retaliate if the Group of Seven (G-7) countries proceed with a total ban on most exports to Russia by withdrawing from the Black Sea Grain Initiative, which allows Ukraine to export grain safely to world markets by ship despite Russia’s blockade of the Black Sea.
According to reports, G-7 officials are considering an outright ban on most exports to Russia and are discussing the idea ahead of a leaders summit in Japan in May.
Since Russia invaded Ukraine in February 2022, the G-7 nations' sanctions have focused more on halting the import of Russian goods and less on exporting goods to Russia. The import sanctions have forced Russia to sell oil, natural gas and other goods at a discount to India, China and other nations willing to ignore the sanctions. The new plan would add to the list of goods that would no longer be sold to Russia.
Dmitry Medvedev, deputy chair of Russia’s security council, said in a Telegram post that if such an export ban occurs, "the grain deal – and many other things that they need – will end for them."
G-7 calls for extension of Black Sea grain deal
On April 23, the G-7 called for the "extension, full implementation and expansion" of a critical deal to export Ukrainian grain through the Black Sea, the group's agriculture ministers wrote in an official announcement to the media.
In the communique obtained by Reuters, the G-7 agriculture ministers "recognized the importance" of the deal.
"We strongly support the extension, full implementation and expansion of (the Black Sea Grain Initiative) BSGI."
It added, "We condemn Russia's attempts to use food as a means of destabilization and as tool of geopolitical coercion and reiterate our commitment to acting in solidarity and supporting those most affected by Russia's weaponization of food."
Russia has threatened to leave grain deal before
Russia has threatened to withdraw from the Black Sea grain deal several times since its inception. On April 13, Russia said there would be no extension of the Black Sea grain deal beyond May 18 unless the West removed a "series of obstacles" to the export of Russian grain and fertilizer.
The obstacles include the restoration of access to the SWIFT financial messaging system for Russian state-owned agriculture-focused bank, a resumption of farm machinery supplies, and the unblocking of foreign assets and accounts held by Russian agricultural companies.
The Black Sea Grain Initiative, signed in July 2022, was designed to alleviate global food shortages by helping to export Ukrainian grain safely during the Russian-Ukraine conflict to the poorest countries in the world.
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