Russia announced today that it will give the green light to renewing the Black Sea Grain Export Agreement, which allows grain to be safely exported from Ukrainian ports only if the interests of its own farmers are also taken into account.

The corresponding agreement, reached last year through the mediation of the UN and Turkey, expires on March 18 and can be extended with the consent of all parties. Russia has already said it is unhappy with some aspects of the deal.

Russian agricultural exports have not been detailed by Western sanctions, but Moscow says sanctions on its payments system, supply chain and insurance industry are a “barrier” to being able to export its own grains and fertilizers.

The Russian Foreign Ministry announced today that Foreign Minister Sergei Lavrov discussed the prospects for extending the agreement during a meeting with his Turkish counterpart Mevlut Cavusoglu on the sidelines of the G20 foreign ministers’ meeting in New Delhi.

“The Russian side emphasized that the continuation of the grain agreement is possible only if the interests of Russian grain and fertilizer producers are taken into account for unhindered access to world markets,” the Russian ministry said in a statement.

Source: APE-MPE, Reuters.