China needs Ukraine for food and could save the Black Sea grain deal
WASHINGTON — The United States and its Western allies are looking to China to help resolve the calamitous domino effect of Russia's exit from a crucial U.N.-backed agriculture deal.
Beijing, one of Moscow's most strategic allies and the world's second-largest economy, was the indisputable top recipient of Ukrainian agricultural products under the landmark agreement known as the Black Sea Grain Initiative. After nearly a year in place, Russia ditched the agreement last month, citing frustrations that the deal only benefited Ukraine.
The agreement eased Russia's naval blockade in the Black Sea and established a maritime humanitarian corridor which saw the passage of more than 1,000 ships carrying nearly 33 million metric tons of Ukrainian wheat, barley, corn and sunflower meal.
Since the inception of the July 2022 deal, which was brokered nearly six months into Russia's full-scale war, Chinese ports have welcomed 8 million metric tons of Ukrainian agricultural products, the lion's share according to data provided by the United Nations.
Source: CNBC
