Ukraine condemned Moscow’s “provocative” actions on Monday, a day after a Russian warship fired warning shots at a cargo ship in the Black Sea, Reuters reported.
“The Ministry of Foreign Affairs of Ukraine strongly condemns the provocative actions of the Russian Federation on August 13 in the Black Sea regarding the Turkish dry cargo ship “Shukru Okan”, which was on its way to the port of Izmail,” the message reads. the statement of the ministry says.
“The Russian Navy grossly violated the UN Charter, the UN Convention on the Law of the Sea and other norms of international law. These actions testify to Russia’s purposeful policy regarding the threat to freedom of navigation and the safety of commercial shipping in the Black Sea,” the agency added.
The price of wheat has increased
Wheat prices rose on Monday in Asian markets after a Russian warship opened fire on a cargo ship in the Black Sea on Sunday to stop it for an inspection, raising tensions in an area important for grain exports, Bloomberg and Agerpres reported.
Russia’s Defense Ministry said the Vasyl Bykov ship fired warning shots from automatic weapons at the Shukra Okan after the captain failed to respond to a request to stop for inspection.
Then, with the help of a Ka-29 helicopter, the Russian military boarded the cargo ship, and after the inspection, the “Syukru Okan” continued its way to the port of Izmail, according to the press release of the Ministry of Defense of the Russian Federation.
Wheat futures rose as much as 1.2% on Monday, before slowing to 0.3% to settle at $6.56 a bushel after a 1.5% drop.
Russia could provide a quarter of the world trade in wheat
On Saturday, the USDA raised its estimates of grain supplies to Russia in the 2023-24 season to 48 million tons.
This means that a quarter of the world trade in wheat will fall on Russia.
Grain supplies from the Black Sea region began to be questioned after an agreement that allowed safe passage for ships exporting grain and other food products from Ukraine expired in July.
Concerns remain high even after a Ukrainian drone attack on a Russian oil tanker a week ago.
Despite this, wheat prices have fallen by almost 17% since the beginning of the year against the background of a stable harvest.
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Source: Hot News
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