Russia Extends Ukraine Grain Deal, Defusing Fears of Global Food Crisis

Russia agreed to extend the UN-brokered deal allowing Ukraine to export grain across the Black Sea for another two months, averting the collapse of a pact that has eased a global food crisis.
The extension provides relief to developing nations that rely on affordable Ukrainian grain and helped lower food prices, though that relief has not reached consumers.
The deal has enabled Ukraine to safely export over 30 million tons of grain, with over half going to developing countries struggling with hunger.
Russia had threatened to quit the deal if certain demands were not met, including allowing a Russian bank back on the global banking payment system.
The failure to extend the deal could have created volatility in global food markets and severely impacted grain-importing countries in the Middle East, North Africa and the Horn of Africa.