MOSCOW, July 17. /TASS/. The Russian grain market will feel the positive effect of the termination of the grain deal, President of the Russian Grain Union Arkady Zlochevsky told TASS.

"The termination of the grain deal is not critical for Russia, it brought only harm and nothing good. The Russian grain market will only benefit from the termination of the grain deal," he said.

"As a result of the implementation of this agreement, today we are trading at a discount of $10-20, with a historical high of $70. This is the money we are losing, our grain supplies are losing," Zlochevsky added.

Russian presidential spokesman Dmitry Peskov said earlier on Monday that the Black Sea agreements have been effectively terminated on Monday - the part of the deal concerning Russia has not been fulfilled. "The Black Sea agreements are no longer in effect. The deadline, as the Russian president said earlier, is July 17. Unfortunately, the part of the Black Sea agreement that concerns Russia has not yet been fulfilled. As a result, it has been terminated," he said.

"As soon as the Russian part [of the deal] is fulfilled, the Russian side will immediately return to the implementation of this deal," Peskov added.

He also noted that Russia’s position on suspending its participation in the grain deal was announced before the most recent terrorist act on the Crimean Bridge and this attack does not influence Moscow’s decision.

On July 22, 2022, a package of documents on the supply of food and fertilizers to the international market was signed in Istanbul. The agreements were originally concluded for a period of 120 days. They were extended for the same period last November. On March 18, 2023, Russia announced the extension of the deal for 60 days. The grain deal was extended for two more months on May 18.