PEXELS

Jun 01, 2022

Russian Grain, Fertilizer Export Talks Constructive in Moscow

U.S. prepared to give comfort letters to shipping, insurance companies to facilitate exports

A senior U.N. official had "constructive discussions" in Moscow with Russian First Deputy Prime Minister Andrei Belousov on facilitating Russian grain and fertilizer exports to global markets, U.N. spokesman Stephane Dujarric said Tuesday.

Reports noted the U.S. ambassador to the United Nations on Tuesday said the Biden administration supports the shipment of Russian grain and fertilizer to address increasing global food insecurity sparked by the war in Ukraine.

Linda Thomas-Greenfield told reporters at UN headquarters that there are no U.S. sanctions on Russian shipments of grain and fertilizer, but she said companies are a little nervous and have been holding back.

Reuters reports the U.S. is prepared to give comfort letters to shipping and insurance companies to help facilitate the exports of Russian grain and fertilizer.

Russia willing to allow grain exports from Ukraine

On Monday, President Vladimir Putin said Russia was ready to facilitate the unhindered export of grain from Ukrainian ports in coordination with Turkey, according to a Kremlin readout of talks with President Tayyip Erdogan.

Reuters reports that Putin said Russia would facilitate the unhindered sea transit of goods in coordination with Turkish partners. This also applies to the export of grain from Ukrainian ports.

Putin, according to the Kremlin, added that if sanctions were lifted, then Russia could "export significant volumes of fertilizers and agricultural products."

Lisa Cleaver

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Marketwatch: Aug, 18

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