Wheat prices on the global market have risen sharply after Russia issued a warning to ships approaching Ukrainian ports through the Black Sea.
A heated situation was created regarding the activities in the Black Sea after the Russian government alleged that the attack on the Crimea bridge was carried out by Ukraine using their drones.
With this situation, the Russian government has declared that ships travelling to Ukrainian ships in the Black Sea are considered to be ships carrying military equipment to Ukraine. Accordingly, Russia also declared that they will treat all vessels travelling towards Ukraine in the Black Sea as military vessels.
Following Moscow’s withdrawal on Monday from a UN deal that guarantees the safe passage of grain shipments through the Black Sea, the Russian government has declared that they consider vessels and ships travelling in the area as war targets.
Meanwhile, White House spokesman Adam Hodge said Russia plans to attack civilian ships and blame Ukraine. Accordingly, Russia has dropped more sea bombs while approaching Ukrainian ports.
And with Russia’s decision, wheat prices on European stock exchanges rose by 8.2% on Wednesday from the previous day to 253.75 euros per ton, while corn prices rose by 5.4%. Meanwhile, wheat prices in the United States rose by 8.5%.
Earlier, Russian President Vladimir Putin said that he would immediately return to the International Grains Agreement if his demands were met. Accordingly, he called for the lifting of sanctions on the sale of Russian grain and fertilizer and the reconnection of Russia’s Agricultural Bank to a global payment system.
