Ukraine and Russia have agreed to a ceasefire in the Black Sea, the White House announced on Tuesday. In two separate statements, the Trump administration said that Kyiv and Moscow “have agreed to ensure safe navigation, eliminate the use of force and prevent the use of commercial vessels for military purposes in the Black Sea”.
The development comes after three days of expert-level talks between the US and the two adversaries in Riyadh, Saudi Arabia.
The White House also confirmed that “the United States will help restore Russia’s access to the world market for agricultural and fertilizer exports, lower maritime insurance costs, and enhance access to ports and payment systems for such transactions.”
The Kremlin said this includes reconnecting Russian financial institutions, such as Rosselkhozbank which services agriculture firms, to the SWIFT international messaging system, lifting sanctions on Russian food and fertiliser exporters, and easing restrictions on maritime insurance and port access.
Shares in Russia’s major fertiliser producer Phosagro were up 5.18%, after news of a U.S. promise to restore Russia’s access to the world market, according to Moscow Stock Exchange (MOEX) public data.
Washington and Moscow also “agreed to develop measures for implementing President Trump’s and President Putin’s agreement to ban strikes against energy facilities of Russia and Ukraine” the U.S. readout stated.
“The United States and Ukraine agreed that the United States remains committed to helping achieve the exchange of prisoners of war, the release of civilian detainees, and the return of forcibly transferred Ukrainian children.”
The Trump administration went on to reiterate that “the killing on both sides of the Russia-Ukraine conflict must stop, as the necessary step toward achieving an enduring peace settlement.”
All three countries are also welcoming “the good offices of third countries” to support the implementation of the energy and maritime agreements.
With reporting by news agencies
