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Turkish President Recep Tayyip Erdogan said he expects to hold talks with Russian President Vladimir Putin soon over the Black Sea Grain Initiative, which will also include Moscow's issues with the deal.

"We maintain relations with Russia ... Together with the negotiations, we hope to bring this issue [of the grain deal] to a certain point with Putin in the very near future," Erdogan told reporters on Friday.

The Turkish leader stated that he had discussed Putin's planned visit to the country next month, adding that he expects the grain deal to recommence after the meeting.

Moscow announced on Monday that it has "terminated" the commodity agreement, explaining that it will be resumed once Western countries fulfill their commitments to the deal, which, according to Russia, only benefited Ukraine while sanctions hindered the export and sale of Russian grain and fertilizers.

Read more: Agriproduct exports halt as West fails to meet grain deal terms

"If Putin's visit scheduled for August takes place, we will discuss these issues in detail. I believe that we will ensure the continuation of the implementation of the Black Sea Grain Initiative without delaying this process," Erdogan said.

Erdogan warned that the end of the grain deal would lead to catastrophic humanitarian repercussions, urging Western countries to take measures that contribute to its reinstatement.

"The termination of the Black Sea Grain Initiative will entail a range of consequences, including rising global food prices, famine in some regions and new waves of migration. We will not hesitate to take the initiative to prevent this … Western countries should also take action on this issue."

Read more: Poland to ban Ukrainian Grain import if EU fails to extend

The war in Ukraine and sanctions on Russia have hindered grain exports out of Ukrainian ports in the Black Sea. As a result, food prices surged around the world, increasing concerns about famine in poor countries. However, the deal resulted in stabilizing the global food market.

But international watchdogs have repeatedly warned that the lion's share of the food produce was delivered to the West, leaving poor countries combined receiving less than one-third of exports.

Earlier this week, Moscow gave the United Nations three more months to implement its obligations as per the co-signed memorandum, which includes overseeing that developing countries are made a priority to receive the food produce and regranting access of Russian Agricultural Bank to SWIFT.

Read more: UN asks Putin to extend Black Sea grain deal for access to SWIFT