Russia's exit from Black Sea grain deal will drive up food prices

Carl Bildt, former prime minister of Sweden, shares his perspective on European politics.

What are the consequences of Russia exiting the Black Sea grain deal?

Severe, no question about that. It is obvious that Russia intends to completely stop all Ukraine grain exports over the Black Sea anyhow, as far as they can. It's not only exiting the agreement, it's also sustained attacks against the grain export terminals in Ukraine, and also those very close to the border with Romania. Upward pressure on global food prices, no question about that, that's going to be the consequences, and Russia is responsible.

How is the Ukrainian counteroffensive going?

Well, it's a hard slog. These areas have been extensively fortified and mined by the Russians, and we should also be aware of the fact that the Ukrainian army and the Russian army today is a different army. There's a lot of mobilized people, they have training for just some months. So I think it is going to take some time. So give it a month, or somewhat more than that, and we can make a more accurate assessment of how far they can achieve.