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China was the leading export destination of agricultural products from Ukraine secured by the Black Sea Grain Initiative as of July 17, 2023, at million metric tons. Furthermore, *** million metric tons went to Spain, while Turkey ranked third. Low and lower-middle income countries received nearly ** percent of grain exports from Ukraine under the agreement as of January 2023. On July 17, 2023, the Russian government announced that it suspended participation in the deal.

Why was the Black Sea Grain Initiative suspended?

The Black Sea Grain Initiative, an agreement between Ukraine, Russia, Turkey, and the United Nations that opened three Ukrainian ports for agricultural exports, was suspended by the Russian government on July 17, 2023. Russian authorities explained this decision by the alleged failure of the UN to comply with the second part of the agreement, which states that the UN would facilitate that international sanctions are not applied to Russian agricultural products. While the existing sanction regimes exclude Russian food and fertilizer exports, the Russian government argued that the measures imposed on the Russian Agricultural Bank and the fact that no vessel with Russian fertilizers had been sent since the launch of the initiative, hindered the implementation of the second part.

How much of the world's agricultural exports comes from Ukraine?

The Ukrainian grain market is one of the largest worldwide. In the trade year 2022/2023, Ukraine was the sixth-largest wheat-exporting region. Around **** percent of total wheat exports came from Ukraine in that period. Furthermore, the country accounted for nearly ** percent of global sunflower meal exports and ** percent of sunflower oil.