Online Desk:Russia said on Wednesday it would resume its participation in a deal to free up vital grain exports from war-torn Ukraine after suspending it over the weekend in a move that had threatened to exacerbate hunger across the world.

The Russian defence ministry said it had received written guarantees from Kyiv not to use the Black Sea grain corridor for military operations against Russia.

"The Russian Federation considers that the guarantees received at the moment appear sufficient, and resumes the implementation of the agreement," the ministry statement said.

Russia suspended its involvement in the deal on Saturday, saying it could not guarantee safety for civilian ships crossing the Black Sea because of an attack on its fleet there, part of which it said had originated from within the grains export corridor. Ukraine has said that was a false pretext.

Turkish President Tayyip Erdogan said earlier that Russian Defence Minister Sergei Shoigu had told his Turkish counterpart that the July 22 grain deal, brokered by Turkey and the United Nations, would continue to operate as of midday on Wednesday.

"The grain transports will continue as agreed before as of 12 (pm) today," Erdogan said.

The prices of wheat, soybeans, corn and rapeseed fell sharply on global markets following the announcement, which eased concerns about the growing unaffordability of food.

Ships have continued to carry Ukrainian grain on the route despite the suspension, but that had been unlikely to continue for long because insurance companies were not issuing new contracts due to Russia's move, industry sources told Reuters.

"This is quite an unexpected turnaround," Andrey Sizov, the head of Russia-focused Sovecon agriculture consultancy, said of Russia's decision.