• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Agriculture

UN, Africa bank form platform to ease Russia grains, fertiliser exports

Fertiliser

The Matters Press by The Matters Press
May 26, 2023
Reading Time: 2 mins read
0
The $2.5bn Dangote Fertiliser plant

The United Nations is working with the African Export-Import Bank (Afreximbank) to create a platform to help process transactions for Russian exports of grain and fertiliser to Africa, the top UN trade official told Reuters on Wednesday.

RELATED POSTS

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

An agreement struck in July last year requires the UN to help Russia overcome any obstacles to its grain and fertilizer exports for three years. It was reached at the same time as a deal allowing the safe Black Sea export of food and fertiliser from Ukraine following Russia’s February 2022 invasion.

The deals were intended to ease a global good crisis that the UN said was worsened by the war because both countries produce grain and fertiliser for world markets, particularly in Africa and the Middle East.

“We have not turned the corner on this,” Rebeca Grynspan who leads the implementation of the UN deal with Russia said in an interview, describing the Black Sea accord and pact between the UN and Russia as continuing to “be a lifeline for food security” around the world.

The Black Sea deal was extended last week for the third time after Russia agreed to a further two months. But Moscow has been threatening to quit unless a list of demands to improve its own food and fertiliser exports is met.

Russia’s agricultural exports are not subject to Western sanctions imposed over the invasion of Ukraine, but Moscow says there are restrictions on payments, logistics and insurance and a wider chilling effect from the measures. The US and others have dismissed Russia’s complaints.

Grynspan said she was working with Afreximbank to try to help small and medium-sized countries in Africa combat disrupted trading and access Russian grain and fertiliser through “more agile transactions”.

“We are working with Afreximbank and making a platform that will allow for a more agile due diligence with the clients to comply with the sanctions but allow for the transactions of food and fertilisers with Africa,” she said.

Cairo-based Afreximbank was not immediately available for comment. Grynspan did not share any further details as discussions continue.

Russia’s agricultural bank, Rosselkhozbank, was cut off from the SWIFT international payment network by the European Union (EU) in June. Russia wants it reconnected, but the EU has said it was not considering reinstatement of Russian banks.

As an alternative, US bank JPMorgan Chase & Co has processed some Russian grain export payments, sources told Reuters last month, and could process dozens more. But Russia has dismissed this as unsuitable in the longer term.

Some 260,000 metric tonnes of Russian fertiliser have also been stuck in several European ports. Moscow said the fertiliser would be donated to countries in need.

“The UN helped arrange for the release of the first two shipments, to Malawi and Kenya. A delivery was also planned for Nigeria and possibly Sri Lanka and South Africa,” Grynspan said.
The EastAfrican

Tags: Fertiliser
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Next Post
NSIA, Agency in deal on solar power

Investments in solar to outpace oil for first time in clean energy shift – IEA

Nigeria floats $4bn Eurobonds

Kenya gets 300 proposals on settling $2bn Eurobond

Recommended Stories

NAFDAC prevents dangerous Ponmo  from circulation

Boards of NAFDAC, others not dissolved, see list of affected agencies

June 21, 2023
Buhari launches eNaira, first digital currency in Africa

Federal, States, Councils share N736.782bn

November 23, 2022
Trading in Nigerian stock market dips further N83bn

NGX: All-Share Index strengthens by 3.93%, investors gain N1.82trn

January 17, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us