The deal ensures the safety of navigation in the Black Sea, according to a statement
Russia and the US have committed to advancing the Black Sea Initiative as a step towards settling the Ukraine conflict, according to a statement released by the Kremlin on Tuesday.
The agreement follows the 12-hour talks focused on the Ukraine conflict held on Monday in Saudi Arabia by expert groups from the two countries.
The sides discussed steps to ensure safe navigation in the Black Sea, including a pledge to avoid the use of force and prevent commercial vessels from being used for military purposes, while agreeing on control measures such as ship inspections.
The US has vowed to “help restore access for Russian agricultural and fertilizer exports to the world market, reduce the cost of insurance for maritime transportation, and enhance access to ports and payment systems for such transactions,” according to the Kremlin statement.
The agreement envisions lifting restrictions on Russian Agricultural Bank and other financial institutions involved in international trade of food and fertilizers, including reconnecting them to the SWIFT payment system. It also includes removing sanctions on Russian-flagged vessels, port services, and the supply of agricultural machinery and related goods to Russia.
According to the statement, Moscow and Washington have also agreed to develop measures to enforce the 30-day ban on strikes against energy infrastructure in Russia and Ukraine that was agreed last week. There would be an option to extend the arrangement or abandon it if either side fails to comply.
The two sides also welcomed the involvement of third countries in supporting agreements on energy and maritime matters.
The US and Russia “will continue efforts to achieve a lasting and sustainable peace,” the statement concludes.
Originally brokered in July 2022 by the UN and Türkiye, the Black Sea Grain Initiative aimed to ensure the safe passage of Ukrainian agricultural exports in return for the easing of Western restrictions on Russia’s grain and fertilizer trade. Moscow did not renew the deal in 2023, citing the West’s failure to uphold its commitments.
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