Commodities
Türkiye and UN Push for Black Sea Ceasefire Talks
Türkiye and the United Nations are working together to arrange new talks between Russia and Ukraine to discuss a Black Sea ceasefire.
The initiative aims to replicate a successful 2022 campaign that secured grain shipping in the Black Sea, which was coordinated by Türkiye and the UN.
The talks will prioritize the concerns of countries hit by rising food prices, with the goal of establishing a 'narrowly defined and reciprocal arrangement' involving free commercial navigation and protection for ports and energy infrastructure.
Russia and Ukraine have been intensifying their attacks on each other's Black Sea port facilities, contributing to a rise in wheat futures to a three-year high in August.