Russia announced on Tuesday that the United States has agreed to assist in lifting restrictions on Russian food, fertilizer, and shipping companies in exchange for Moscow’s support of a maritime security deal in the Black Sea.
In a significant diplomatic development, the U.S., Russia, and Ukraine also reached an agreement to prohibit military strikes on each other’s energy infrastructure. If successfully implemented, these agreements could mark a crucial step toward a broader ceasefire in the ongoing war, which Washington views as a foundation for future peace negotiations.
Key Aspects of the Agreement
What Russia Gains
Under the terms of the deal, the U.S. has agreed to facilitate Russia’s access to global markets for its agricultural and fertilizer exports. This includes:
- Lowering maritime insurance costs for Russian shipments.
- Enhancing access to international ports and payment systems.
- Lifting restrictions on Russian state agricultural bank Rosselkhozbank and other financial institutions that facilitate international trade in food and fertilizers.
- Restoring Russian agricultural companies’ access to SWIFT banking services and correspondent accounts.
- Removing sanctions on Russian companies involved in food and fertilizer exports.
- Allowing Russian-flagged vessels engaged in agricultural trade to operate without restrictions.
- Permitting the supply of agricultural machinery and other essential goods required for food and fertilizer production in Russia.
Moscow emphasized that the maritime security deal would only take effect after these conditions were met.
What Ukraine Gains
As part of the broader agreement, Washington reaffirmed its commitment to Ukraine, ensuring support in:
- Securing the exchange of prisoners of war.
- The release of Ukrainian civilian detainees.
- The return of children forcibly transferred from Ukraine.
Background of the Deal
The agreement effectively reinstates key elements of the Black Sea Initiative, initially brokered in 2022 by Turkey and the United Nations. The initiative aimed to ensure safe navigation in the Black Sea and facilitate the export of food and fertilizers from the region.
Russia withdrew from the initiative in 2023, citing barriers to its own agricultural exports due to Western sanctions on financial transactions, logistics, and insurance. While food and fertilizer exports are not directly sanctioned, Moscow has long complained that Western-imposed restrictions have hindered its ability to trade freely.
With the latest agreement, the U.S. and its allies appear to be making concessions in an effort to de-escalate tensions and create a pathway toward peace talks. However, the success of this initiative will depend on whether both sides fulfill their commitments in the coming weeks.
Potential Impact
If the agreement holds, it could:
- Ease global food supply concerns by ensuring smoother trade routes in the Black Sea.
- Reduce shipping costs and improve market access for Russian exports.
- Provide Ukraine with crucial humanitarian and diplomatic support.
- Open doors for further negotiations on a broader ceasefire in the ongoing conflict.
With the war in Ukraine now in its third year, this agreement marks one of the most tangible steps toward reducing hostilities, though its full implementation remains to be seen.
Sources By Agencies
