In the aftermath of a pivotal Ukraine grain agreement's collapse, Russia is intensifying its efforts to disrupt Ukraine's grain exports, hoping to undermine Kyiv's profits. This action follows Russia's withdrawal from the grain deal, marked by heightened attacks on Ukrainian ports and an expected impact on global grain market prices.

Following the breakdown of a significant grain agreement with Ukraine, Russia is heightening its efforts to disrupt Ukrainian grain shipments, aiming to severely impair Kyiv's profits. This strategy materialized just a week after Russia's withdrawal from a crucial pact that safeguarded Ukrainian grain exports.

Moscow has recently amplified its attacks on three Ukrainian ports near Odesa in the Black Sea, and for the first time, it targeted Ukrainian terminals on the Danube River on Monday evening.

Russia's maneuver to obstruct Ukraine's grain exports is motivated by its intent to deplete Ukrainian fiscal revenues and drastically increase global market prices, thus reaping advantages for itself, independent analysts conveyed to The Moscow Times.

STOCK MARKETS AND INTERNATIONAL REACTIONS TO RUSSIA'S ACTIONS

The former European Union official, who requested anonymity, told The Moscow Times, "The Kremlin's bombardment of port infrastructure is a tactic to exert pressure on Kyiv and transport companies. Russia is seeking to inflict maximal damage on Ukraine, stripping it of considerable financial income and capturing the Ukrainian markets."

Following Russia's withdrawal from the agreement and subsequent threats to target vessels destined for Ukrainian ports, stock markets witnessed sudden price surges. This reaction was replicated after an unanticipated drone assault on Ukrainian port facilities on the Danube in the early hours of Monday, a river coursing through NATO member Romania.

In a deal brokered by Turkey and the UN in July 2022, Russia committed to ensuring safe transit of grain and fertilizer exports from Odesa and adjacent ports.

In return, Moscow, being one of the largest food producers globally, was permitted by a UN memorandum to continue supplying food and fertilizers to the international market, notwithstanding global sanctions. It also included an agreement to reintegrate Russia's agricultural bank, Rosselkhozbank, into the SWIFT payment system.

Since the grain agreement was reached last July, almost 33 million metric tons of food have been exported through Ukrainian ports, according to the UN.

Nevertheless, Russian President Vladimir Putin and his diplomats expressed constant dissatisfaction, claiming that Moscow's conditions were never fulfilled.

Prior to Russia's declaration of withdrawal from the deal, UN Secretary-General Antonio Guterres attempted to salvage the agreement in a letter to Putin, pledging to assist in reinstating Rosselkhozbank's access to SWIFT.