MOSCOW: Following Russia's withdrawal from the Black Sea grain deal that guaranteed the secure sale of Ukrainian grains, President Vladimir Putin has said that the decision was taken as the pact eventually lost its meaning and was no more of any significance, according to Al Jazeera.

“The continuation of the ‘grain deal’ – which did not justify its humanitarian purpose – has lost its meaning,” Putin said, according to the article on the Kremlin’s website.

The agreement that had permitted Ukraine to export grain from its Black Sea ports a year ago, despite the war, to help alleviate a global food crisis, was terminated last week by Moscow, which claimed that the requirements for the extension had been disregarded. In July 2022, Turkey and the UN began talks on the Black Sea Grain Initiative.

Russia announced last week on Monday (July 17) that it was suspending its participation in a UN-brokered deal that allowed the export of Ukrainian grain. The agreement, brokered by Turkey and the United Nations in July 2022, was scheduled to expire at 5 pm ET on Monday.

Kremlin spokesperson Dmitry Peskov announced Moscow will not renew the agreement, saying it "has been terminated." The deal had allowed Ukraine to export grain by sea, as per the CNN report.

Russia and Ukraine, both have warned each other against the travelling of ships in the Black Sea, saying that it will be considered as "potential military cargo".

Moscow had also accused Ukraine of using the Black Sea grain corridor for “combat purposes”. While, Kyiv hit back at Moscow, stating that Russia must stop playing hunger games with people around the world.

The Black Sea Grain Initiative was hailed as a "beacon of hope" by UN Secretary-General Antonio Guterres at a signing ceremony in Istanbul last year. Humanitarian organisations are now warning of potential food shortages.