Ukraine Proposes Halt to Black Sea Attacks

Ukraine has sent Russia a proposal through an intermediary for both sides to halt attacks on civilian targets in the Black Sea and is awaiting Moscow’s response.

The move follows weeks of intensified strikes on vessels and ports, with both countries warning of threats to global food supplies.

Russia’s de facto blockade of Ukraine’s Black Sea ports in the Odesa region has caused Ukrainian grain exports to fall 76% year on year so far in August. Many shipowners have stopped calling at ports in the region because of the risk of Russian strikes. Turkey has separately submitted a proposal to both sides for a moratorium on attacks in the Black Sea.

Moscow has yet to respond publicly to Ukraine’s offer. Before reports of the proposal emerged, Russian Deputy Foreign Minister Alexander Grushko said Moscow had received no formal proposal for a Black Sea ceasefire, although calls for moratoriums and truces had been made through various channels.

Euronext September wheat futures turned lower following reports of Ukraine’s offer, giving up sharp earlier gains.

(Reuters, Max)