As Russia pulls out of the grain deal, Ukraine weighs its options

Russia on Monday officially announced its withdrawal from the ‘grain deal’. The Russian foreign ministry said it means "the absence of guarantees of safety of navigation and the closure of the humanitarian corridor in the northwestern part of the Black Sea".

Following Russia’s announcement, global wheat prices immediately rose by almost seven percent.

"[It] will heighten reliance on alternate trade routes via the Danube River and Ukraine’s European Union neighbours, although those paths remain expensive and some countries have pushed back against the inflow," Bloomberg reports.