World
Russian Grain Politics And Africa’s Import-Dependency Syndrome

By Kestér Kenn Klomegâh
Despite its sudden exit from the United Nations-brokered agreement that allowed Ukraine to export grains, Moscow says it will continue to consolidate efforts and deliver its grains uninterruptedly to the world markets. With most African countries in need, Moscow offered its assurances and would further negotiate agreements at the forthcoming summit in St. Petersburg.
At the media briefing, the Russian Foreign Ministry also offered similar assurances on the African leaders’ gathering. African countries will receive Moscow’s assurances concerning food supplies at the Russia-Africa summit, which will be held in St. Petersburg, Deputy Foreign Minister Sergei Vershinin said.
“The countries in need will definitely receive the necessary assurances in their contacts with us and during the upcoming Russia-Africa summit regarding their need for agricultural products, primarily grain,” Vershinin. Russia understands concerns that its African partners might have, he said, “But I’d like to say that these concerns are not only understandable but will also be fully taken into account.”
A group of African countries led by South Africa have put forward a peace initiative to resolve the Ukrainian conflict. Meanwhile, Russia’s influence on the social and economic situation in African countries has increased in line with rising prices for food, fertilizer and energy.
Another source also indicated that the participants of the Russia-Africa Summit do not plan on making a separate statement on the situation in Ukraine, although the ongoing conflict will be discussed on the forum’s sidelines. However, a separate statement on this issue should not be expected, except there will be a general declaration dedicated to the positive bilateral agenda and a document relating to the global geopolitical situation.
At different occasions, Russian President Vladimir Putin has unreservedly stressed that “Russia is reliably fulfilling all its obligations pertaining to the supply of food, fertilisers, fuel and other products that are critically important to the countries of Africa, and ready to ensure their food security.”
On July 17, Russia rejected a further extension of the Black Sea Grain Initiative, or so-called grain deal, an agreement initially concluded in Istanbul in July 2022 to ensure the safe export of Ukrainian grain and foodstuffs through humanitarian corridors in the Black Sea. Moscow said, however, that it may consider returning to the Istanbul initiative if the provisions of the deal allowing for exports of Russian agricultural products to world markets can be duly implemented.
The international community denounced Moscow’s decision, while Turkey, which had brokered the Black Sea Grain Initiative jointly with the United Nations, expressed hope that the deal could be reanimated. Although upbeat statements by Turkish President Recep Tayyip Erdogan failed to prevent grain prices from soaring on major commodity exchanges, experts claimed that “the price increase was largely speculative.”
Some media reports have indicated that Putin’s latest economic assault on the West is fueling fears of a global food crisis. Business Insider’s George Glover wrote that Russia has started bombing Ukrainian ports and threatened to attack ships, and these actions have pushed prices soaring and sparked fears of a global food crisis.
When international grain prices rise, it becomes more expensive for poorer countries to import those commodities – so Russia’s withdrawal from the UN’s initiative has fueled policymakers’ fears that there could be a worldwide food crisis. Since Russia invaded Ukraine in February 2022, Putin has tried to squeeze commodity supplies in a bid to disrupt the global economy and hinder Kyiv’s Western allies.
UN Secretary-General António Guterres said the Kremlin’s decision to pull out of the grain deal would end “a lifeline for global food security” and extinguish “a beacon of hope”, while the European Union’s head of foreign policy Josep Borrell told journalists there could be a “big and huge food crisis in the world”.
The International Monetary Fund (IMF) says Russia’s exit from Ukraine’s grain deal risks adding to global food inflation. An IMF spokesperson said the global lender would continue to carefully monitor ongoing developments in the region and their impact on global food insecurity.
“The discontinuation of the initiative impacts the food supply to countries that rely heavily on shipments from Ukraine, in particular in North Africa, the Middle East, and South Asia,” the fund said. “It worsens the food security outlook and risks adding to global food inflation, especially for low-income countries.”
Several Group of 20 members this week condemned Russia’s move to quit the United Nations-brokered Black Sea grain deal over what it called a failure to meet its demands to implement a parallel agreement easing rules for its own food and fertilizer exports.
Local Russian financial daily newspaper Kommersant reported on July 24 that despite the termination of the grain deal, where there are indications that Kyiv, Ankara and the West remain committed to resuming shipments of Ukrainian agricultural products across the Black Sea.
Ukrainian President Vladimir Zelensky has called an emergency meeting of the newly formed NATO-Ukraine Council, which allies have touted as an alternative to admitting the country into the alliance. For now, however, the West seems to be placing more hope in Turkish President Recep Tayyip Erdogan’s ability to find convincing arguments in dialogue with Moscow.
The proposal to engage a third-party country to escort commercial ships across the Black Sea has been raised several times since Russia’s withdrawal from the Istanbul agreements, but no side has taken it up because all stakeholders see such a scenario as entailing a potentially serious risk of escalation.
According to the Financial Times, Washington is attempting to persuade its African partners to condemn Russia’s withdrawal from the grain deal. For its part, Russia is not sitting idle and says that Moscow understands “the concerns that may arise among our African friends” and is proposing to provide free food supplies to the continent, but continues to insist that the initial Russia-related provisions of the Black Sea Grain Initiative must be implemented before there can be any return to the deal, Russian Deputy Foreign Minister Sergey Vershinin noted.
These past several days, the current questions discussed most by both the Russian and foreign media were related to Russia’s threats to block Black Sea shipping, no Putin at the BRICS summit in Johannesburg, and that the Western and European sanctions were insufficient.
The European Union, the United Kingdom, Australia, the United States, and Canada simultaneously expanded sanctions against Russian individuals and legal entities. But as Russia continues to attack Ukraine with missiles and drones, the existing sanctions are clearly not enough to hinder its weapons production, Ukrainian President Volodymyr Zelenskyy said in his evening address on July 18.
Russia has started blocking Ukraine’s seaports. The recent Russian missile strike targeting Chornomorsk, Odesa Oblast’s port infrastructure, has destroyed 60,000 tons of grains. Russia’s Defense Ministry has designated all ships bound for Ukrainian ports in the Black Sea as “potential carriers of military cargo,” Russian news agency RIA Novosti reported on July 19.
Russia’s air attack against Odesa highlights the country’s attitude towards food security, African nations, the UN and global hunger, Mykhailo Podolyak, an adviser to the head of the Office of the President of Ukraine, tweeted on July 19.
The termination of the deal would affect a number of countries in the Middle East, North Africa and Southeast Asia. Due to the limited transport capacity and infrastructure in Central and Eastern Europe, a significant part of the land export of grain from Ukraine may get stuck in transit countries, which have local producers of this agricultural product.
The Black Sea agreement has helped keep benchmark foodstuff prices under control by boosting supply to world markets. On July 17, Russia officially withdrew from the grain agreement after an attack at the Crimean Bridge. In addition, Moscow withdrew guarantees of navigation safety in the Black Sea. The UN-brokered Black Sea grain deal expired on July 18.
World
Relief Across Markets as US-China Agree to Trade Deal

By Adedapo Adesanya
The global markets are experiencing relief as the United States and China, the world’s two largest economies, have agreed to slash tariffs on each other, to ease effects of a trade war.
Speaking after talks with Chinese officials in Geneva, US Treasury Secretary, Mr Scott Bessent told reporters that the two sides had reached a deal for a 90-day pause on measures.
US trade representative Jamieson Greer said so-called reciprocal tariffs were now at 10 per cent each.
Business Post reports that in real terms, the deal means the US is reducing its 145 per cent tariff announced by President Donald Trump to 30 per cent on Chinese goods.
A tariff of 20 per cent had been implemented on China when President Trump took office over what his administration said was a failure to stop illegal drugs entering the US.
China has agreed to reduce its 125 per cent retaliatory tariffs to 10 per cent on US goods.
Sector-specific tariffs, such as the 25 per cent tax on cars, aluminium and steel, remain in place.
Last month, President Trump announced a 90-day pause on the reciprocal tarrifs. However, China was the only country exempt from the pause on the retaliatory tariffs above the base 10 per cent levies.
The development had impacted many markets across the world from stocks to oil to bonds and minerals.
Mr Bessent said after a weekend of negotiations in Switzerland, the countries had a mechanism for continued talks.
It is the second major trade announcement made by the US in the last week, after a deal was secured with the United Kingdom on Thursday.
The move signals a willingness from the Americans to make deals on tariffs.
The news was received positively by major markets.
Brent crude is currently up 2.9 per cent to $65.78 per barrel while the US West Texas Intermediate (WTI) is up 3.1 per cent to $62.91 a barrel.
Asian stock markets on Monday as major indexes were up. In China, the Shanghai Composite stock index rose 0.8 per cent, the Shenzhen Component gained 1.7 per cent, and Hong Kong’s Hang Seng index was up nearly 3 per cent.
Korea’s Kospi grew 1.1 per cent, Japan’s Nikkei was up 0.8 per cent while India’s Nifty 50 index of most valuable companies gained more than 3 per cent, as per Sky News.
CNBC reports that US stocks look set to rise on the open, based on after-hours trading. Wall Street’s tech-heavy Nasdaq is expected to rise by 3.3 per cent, and the S&P 500 index of companies relied on to be stable and profitable by 2.5 per cent.
Mr Bessent also said, “As long as there is good faith effort, engagement and constructive dialogue, then we will keep moving forward,” in response to questions from journalists.
The market will await further developments and possible ease to recent headwinds.
World
American Robert Prevost Emerges as New Pope

By Adedapo Adesanya
The new pope of the Catholic Church has been revealed as Robert Prevost of the United States, the first American pontiff in history.
Following his emergence, he will be known as Pope Leo XIV.
Voting commenced on Wednesday, and after three rounds of black smoke, white smoke billowed above the Sistine Chapel on Thursday evening.
This is the signal that cardinals had selected a new pontiff on the second day of the conclave.
Prevost, age 69, from Chicago, Illinois, is a leader with global experience. He spent much of his career as a missionary in South America and served as a Bishop in Peru. He most recently led a powerful Vatican office for bishop appointments. He is expected to build on Pope Francis’ reforms.
There were 133 voting cardinals, who had all been sequestered inside the Vatican during the conclave. Any one of them needed two-thirds of the vote to become the next pope.
“Peace be with you all,” said Leo XIV in his first remarks as pope.
“This is the first greetings of the resurrected Christ, the good shepherd who has given up his life for God,” he said, explaining the choice of his greeting. “And I should also like this greeting of peace to enter our hearts and our families.”
Leo XIV looked visibly emotional as he waved to the adoring crowd in the square below the balcony.
A leader with global experience, he spent much of his career as a missionary in South America and most recently led a powerful Vatican office for bishop appointments. He is expected to build on Pope Francis’ reforms.
He worked for a decade in Trujillo, Peru, and was later appointed bishop of Chiclayo, another Peruvian city, where he served from 2014 to 2023.
Prevost also holds a Peruvian passport and has been a Peruvian citizen since 2015.
World
JUST IN: Conclave Elects New Pope as White Smokes Emerges at Vatican

By Dipo Olowookere
A white smoke was seen from the Sistine Chapel at the Vatican City on Thursday evening, signalling the election of a new pope for the Catholic Church.
This is coming a few days after the previous occupier of the position, Pope Francis, was laid to rest after he died on Easter Monday of 2025 at the age of 88 after an illness.
At the moment, the name of the new pope has not been announced. This would be done later by Cardinal Dominique Mamberti from the balcony of St. Peter’s Basilica.
About 133 Cardinals partook in the process of electing a new pope, the largest in history, with 103 of them doing this for the first time.
On Wednesday, the Conclave could not finalise the election of a new pope, with a black smoke emanating from the the Sistine Chapel.
Details later…
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