Russia has agreed to renew the Ukraine grain export deal but only for another 60 days, Deputy Foreign Minister Sergey Vershinin announced following talks with the United Nations on Monday.

"The Russian side... does not object to another extension of the 'Black Sea Initiative' after its second term expiration on March 18, but only for 60 days," he said in a statement issued by the Russian mission in Geneva following the negotiations at the UN's Palais des Nations.