Objectives of Russia-UN memorandum on agricultural exports not met in 3 years of its existence due to western sanctions - Russian Foreign Ministry

MOSCOW. July 14 (Interfax) - No objective set as part of the memorandum on agricultural exports signed between Russia and the United Nations was ultimately accomplished in the three years it has been in effect, while the dynamics of export supplies was maintained and had a positive impact on the stabilization of prices on the global markets, the Russian Foreign Ministry said.

"Five system tasks were developed as part of the joint effort to implement the Russia-UN memorandum. [...] Neither of the aforementioned tasks was completely addressed due to the destructive policy of the western capitals, primarily in the European Union, of increasing illegal unilateral sanctions targeting Russia," the ministry said in a statement published on its website on Saturday.

The tasks included the re-connection of Russian Agricultural Bank to the SWIFT payment system, the establishment of transport logistics and insurance, the resumption of purchases of component parts, the re-opening of the Togliatti-Odessa ammonia pipe, and the unfreezing of foreign assets of the Russian companies.

On July 11, the final round of consultations of the Russian interagency delegation led by Russian Deputy Foreign Minister Sergei Vershinin with Secretary General of the United Nations Conference on Trade and Development Rebeca Grynspan and UN experts on the bilateral memorandum for normalization of domestic exports took place in Geneva.

The memorandum was signed in Istanbul on July 22, 2022 for three years, and its further extension was not envisaged. The Russian Foreign Ministry said in its statement that the main objective of the memorandum was "facilitating transparent and unhindered supplies of Russian food and fertilizers to the global markets by means, in particular, of removing obstacles in finances, insurance and logistics, as well as in light of acute needs of the global food security."

"The dynamic of export supplies of Russian fertilizers and food was maintained, it had a positive impact on stabilization of prices on the global market and overcoming the crises, which is crucial for the Global South states," the statement said.

A number of promising items, including the creation of a special bank channel of payments for Russian agricultural exports and the completion of the initiative on the free handover of Russian fertilizers to the countries in need, remain on the agenda, it said. Interaction on these and other tracks in the interests of global food security could continue after the formal end date of the Russian-UN memorandum, on July 22, 2025.