Despite everything: Egypt will continue to buy Ukrainian grain

Egypt will continue to import Ukrainian grain even after the termination of the Grain Agreement.

The Egyptian government condemned Russia’s withdrawal from the Black Sea Initiative. The country will continue to import wheat from Ukraine — even after the termination of the Grain Agreement, Bloomberg reports.

The economy of Egypt was significantly affected by the increase in the price of grain as a result of Russia’s invasion of Ukraine. Last week, wheat futures rose sharply again – as a result of Russia’s exit from the Grain Agreement.

Now one of the largest importers of wheat in the world plans to receive Ukrainian grain through Europe. The state is also negotiating with the UAE regarding financing in the amount of 400 million dollars for the purchase of grain.

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