Top-level US and Russian diplomatic talks in Saudi Arabia did not result in a breakthrough on a possible Ukraine ceasefire and Black Sea security agreement. Diplomats, despite their efforts, could not persuade Moscow to sign an agreement that did not provide meaningful incentives for Russian exports, the sources said. The negotiations in Riyadh were part of continued international efforts to reduce tensions in the region and secure more secure trade routes.
Russia has been negotiating a new Black Sea deal that would grant more export privileges, especially in the grain and energy exports, and restrict Ukraine’s use of the corridor for military logistics. Moscow has always claimed that past deals have disproportionately benefited Kyiv and Western allies and left Russian trade disadvantaged. The Kremlin also demanded less limitations on the financing of transactions against its exports and relief from Europe and the US sanctions.
Western leaders, on the other hand, have refused to make any concessions to Russia that may be seen as rewarding its belligerence in Ukraine. The US and its allies have instead insisted on finding a more equilibrium policy that guarantees both Ukrainian and Russian exports to flow freely without resorting to militarizing the Black Sea. Still, Moscow insists that any agreement must first address Russian economic interests before it will agree to ceasefire or easing of tensions.
With no deal on the horizon, tensions in the Black Sea continue to be high, threatening to disrupt global food and energy markets. Experts say that without a deal, both Ukrainian and Russian exports will be subject to further challenges, increasing economic instability. The collapse of these negotiations means an extended stalemate, with both sides refusing to make concessions on major economic and security requirements.
