Moscow to cancel the Black Sea Grain Agreement if G7 decides to impose export restrictions on Russia

Dmitry Medvedev, the former Russian president and close ally of current President Vladimir Putin, has warned that if the G7 imposes export restrictions on Russia, Moscow would retaliate by cancelling the Black Sea Grain Agreement, which permits crucial grain shipments from Ukraine.

Medvedev made the statement in a post on his Telegram channel on Sunday, saying that if the G7 bans exports to Russia, Moscow would reciprocate by banning imports from the G7, including categories of goods that are the most sensitive for the group.

The G7 is reportedly considering a blanket ban on exports to Russia, which would automatically prohibit shipments unless they were on a defined list of permitted goods.

The Black Sea grain agreement, which has been frequently criticized by Moscow, is set to expire on 18 May. The G7 agriculture ministers earlier called for the “extension, full implementation, and expansion” of the agreement, which requires inspection teams from Russia, Ukraine, the UN, and Turkey to guarantee that ships are carrying only food and other agricultural supplies and no weaponry.

However, Ukraine has accused Russia of delaying inspections and stopping grain exports. Ukraine is one of the world’s largest producers and exporters of grain. Scrapping the agreement would result in tensions and trade restrictions, which could further complicate the situation. Any such move by Russia would likely have significant economic and political implications for not just Russia and Ukraine but for the wider region.

The conflict between Russia and Ukraine has continued to escalate, with both sides accusing each other of violating agreements and engaging in hostilities. The conflict has wider geopolitical implications, with Russia facing international condemnation and sanctions.

Medvedev serves as Putin’s deputy at the powerful Security Council and is the chairman of a government commission on arms production for the conflict in Ukraine. Reports suggest that the G7 is debating changing its sanctions policy towards Russia, including proposals that shipments to Russia would be automatically prohibited unless they were on a defined list of goods that were permitted for exports.