Efforts to revive maritime trade in the Black Sea have taken a significant step forward following US-brokered agreements between Russia and Ukraine.
The talks, held in Riyadh earlier this week, resulted in a preliminary ceasefire agreement aimed at ensuring safe navigation and prohibiting the use of commercial vessels for military purposes.
However, Russia has tied its participation to the lifting of Western sanctions on its banks and oil tankers, creating a critical point of contention.
The most important outcomes of the Riyadh talks state that both sides agreed to eliminate the use of force in the Black Sea, facilitating the safe passage of vessels and that the US pledged to assist Russia in regaining access to global markets for agricultural and fertiliser exports, including lowering maritime insurance costs and improving port access.
Also, a broader energy truce was proposed, banning strikes on energy infrastructure in both Russia and Ukraine.
The Kremlin has made it clear that the agreement will only take effect if sanctions on Russian financial institutions, such as Rosselkhozbank, are lifted.
These sanctions currently hinder Russia's ability to conduct international trade in food and fertilisers.
Moscow also demands reconnection to the payment system of the Society for Worldwide Interbank Financial Telecommunications, known as Swift, and relief from restrictions on shipping insurance.
While the agreement could stabilise energy and trade flows in Eastern Europe, it has drawn criticism for its perceived favouritism towards Russian interests.
Ukrainian experts argue that it risks sidelining Kyiv's allies, such as Romania and Bulgaria, who face security threats from Russian naval dominance in the region.
Furthermore, concerns remain over whether this deal will genuinely benefit Ukraine’s economy or serve as a geopolitical manoeuvre by Moscow.
The US has played a central role in brokering these discussions, with President Donald Trump emphasising the need to halt violence as a precursor to lasting peace.
If implemented, this agreement could reshape energy logistics in Eastern Europe by reducing disruptions caused by military conflicts.
However, it remains uncertain whether Western nations will agree to Russia’s demands for sanctions relief, which could delay or derail the initiative entirely.
This development marks a pivotal moment in efforts to stabilise the Black Sea region but leaves critical questions unanswered about its long-term viability and fairness. – Sources: BBC, Reuters and Ukrinform.
