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A U.S.-brokered ceasefire in the Black Sea between Russia and Ukraine has been agreed to after lengthy negotiations in Riyadh, Saudi Arabia, between Russia and Ukraine. It’s the first small step in a process that it is hoped will result in a full-scale ceasefire between the two warring nations.
The deal comes with some conditions. According to the New York Times, Russia says it will honor the agreement only after its state agriculture bank is reconnected to the international payment system and penalties are lifted on “trade finance operations. »
The White House agreed, saying it “will help restore Russia’s access to the world market for agricultural and fertilizer exports, lower maritime insurance costs, and enhance access to ports and payment systems for such transactions.”
« The United States and Russia have agreed to ensure safe navigation, eliminate the use of force, and prevent the use of commercial vessels for military purposes in the Black Sea », the White House said in a statement following talks in Jeddah.
The two sides also agreed to begin negotiations to end attacks on their respective energy grids. Ukraine needs this respite far more than Russia, as Moscow has continuously and effectively targeted Kyiv’s electrical facilities.
