It aimed to facilitate exports of food and Russian fertilizers to international markets, in particular to reduce world prices.
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In fact, the economic sanctions that strike Russia, since its invasion of Ukraine on February 24, 2022, save fertilizers and cereals, but the fear of accidentally crossing a red line and finding themselves on the wrong side of the law had paralyzed the carriers and exploded the insurance premiums.
After intense discussions, Russia and UN had established a framework in matters in particular of insurance and financial transactions which were compatible with the three sanctions systems in force (United States, United Kingdom and European Union).
Moscow has complained several times that the agreement has remained more or less dead letter.
On July 22, 2022, Russia and Ukraine also signed an agreement, under the aegis of the United Nations and Turkey, relating to the export of Ukrainian cereals. Moscow refused to extend it in July 2023, denouncing the obstacles to the trade in Russian agricultural products.
