25 July 2023
Ukraine, Russia and trade finance
Ukraine has long been recognised as one of the largest producers of grain in the world. Its fertile land and favourable climate make it an agricultural powerhouse, contributing significantly to the world’s food supply. According to the European Commission, Ukraine accounts for 10% of the global wheat market, 15% of the corn market and 13% of the barley market. It is also a key global player in the sunflower oil market. As of today, with the Black Sea Grain Corridor agreement not being extended by Russia, trade finance managers find themselves at a crossroads.