The world will get big relief from inflation, important deal between Russia and Ukraine
Due to the war between Russia and Ukraine, inflation has been seen around the world. Crude oil prices are skyrocketing. At the same time, due to this war, the supply of wheat in the world was interrupted. But now an important deal has been done between Russia and Ukraine to save the world from starvation. An agreement was signed between the authorities of Russia and Ukraine regarding the export of grain from the Black Sea port. UN Secretary-General Antonio Guterres and Turkish President Recep Tayyip Erdogan were present during the signing of this agreement.
Antonio Guterres and Recep Tayyip Erdogan said the deal would help ease the global food crisis. Ukraine is one of the largest food exporters in the world. The Russian invasion led to a blockade of Russian military ships in the Black Sea, resulting in a sharp drop in Ukraine’s wheat exports. Russian Defense Minister Sergei Shoigu and Ukraine’s Infrastructure Minister Oleksandr Kubrakov signed separate agreements on Friday. During this, both avoided shaking hands.
The signing ceremony took place at the grand Dolmabahs Palace in Istanbul in the presence of Erdogan and Guterres. Guterres said, ‘Today we see a ray of hope in the Black Sea. This will give such a relief to the world which has never been needed before today. Ukraine’s President Vladimir Zelensky said the deal could now export grain worth about $10 billion. These agreements are for 120 days and will be renewed automatically.
Turkey will investigate weapons in the ship
According to UN officials, under the agreement, a group of employees of Turkey, Ukraine and the UN will supervise the loading of grain on the ship. Ukrainian pilot ships will guide grain-carrying commercial ships so they don’t collide with a Russian mine. Turkey will monitor all these things. Russia is concerned that these ships may not supply weapons to Ukraine. Turkey will also investigate these ships to resolve the doubts of Russia.
India can benefit
India is expected to get a big relief from this agreement. Wheat was being sent from India to other countries due to non-export of wheat from Ukraine. Due to this, there was an increase in the prices of flour in the country. Flour has become costlier by an average of 8 per cent in India this year. Due to this the prices of biscuits and noodles have increased. Now with this deal, flour and things made from it can be cheaper in India. Apart from this, if this deal is expanded and the export of edible oil is also allowed, then the price of cooking oil in the world can also come down. This is because Ukraine is a major exporter of sunflower oil.
