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Food Prices Soar as Russia Halts Participation in Deal to Export Ukraine Grain 

HeadlineNov 01, 2022

The United Nations World Food Programme is warning of a worsening humanitarian catastrophe, after Russian President Vladimir Putin said he would halt a deal granting safe passage of food and fertilizer exports from Ukraine to the rest of the world. The U.N. says that since July the program has indirectly prevented about 100 million people from falling into extreme poverty. On Monday, Putin said Russia was not abandoning the deal — but would temporarily stop participating in it. 

President Vladimir Putin: “So we are not saying that we are ending our participation in this deal. No, we are saying that we are suspending.”

Russia’s suspension from the Black Sea Grain Initiative triggered a steep rise in food prices. It came after Russian warships in the Port of Sevastopol in Russian-occupied Crimea were attacked by drones on Saturday, and as Russia’s military accused the British Navy of blowing up the Nord Stream pipelines in September, cutting off supplies of Russian gas to European markets.

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