Summary :
Force majeure is a clause in contracts that frees parties from liability due to uncontrollable events.
Egypt, typically the world’s largest wheat importer, depended heavily on shipments of Black Sea wheat that were disrupted by Russia’s Feb. 24 invasion. After the war sped up rises in global grain prices, GASC paid as much as $494.25 per tonne of wheat in April.
Turkish Defence Minister Hulusi Akar unveiled a centre in Istanbul on Wednesday that would oversee the export of Ukrainian grains, with the first shipment expected to depart from Black Sea ports within days.
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