Russia, the world's top wheat and fertilizer exporter, said on Tuesday that Western sanctions against companies involved in food and fertilizer exports and shipping would have to be lifted as a pre-condition for a Black Sea maritime security deal.

The deal was reached at talks in Riyadh on Monday. The U.S. agreed to help to restore Russia's access to the world market for agricultural and fertilizer exports.

Russia is expected to send around 40 million tons of wheat to the global markets this season, mainly to traditional customers in the Middle East such as Egypt, and aims to boost its overall agriculture exports by 50% by 2030.

Russia also exported around 40 million of mineral fertilizers last year with Brazil, India, China, and the U.S. as major buyers. The country plans to boost fertilizer production by one third to around 80 million tons by 2030.

The Kremlin said implementation of both parts of the agreement would require Western sanctions on Russia's Rosselkhozbank, which services agriculture firms, to be lifted, and the bank's access to the SWIFT international messaging system restored.

Sanctions against Rosselkhozbank were behind Russia withdrawal in 2023 from the earlier Black Sea Initiative, struck in 2022 with the help of Turkey and the United Nations.

Despite Russian food exports reaching global markets, especially countries that Russia considers "friendly," trading firms have complained about international payment issues and restrictions on vessels.

Sanctions on Russian food and fertilizer exporters, insurance firms, servicing food and fertilizer shipments, restrictions on vessels, and trade finance operations, would have to be lifted as well, the Kremlin said.

"We want the grain and fertilizer market to be predictable, so that no one tries to 'dissuade' us from it," said Russia's Foreign Minister Sergei Lavrov.

Shares in Russia's major fertilizer producer Phosagro were up 5.18%, after news of a U.S. promise to restore Russia's access to the world market, according to Moscow Stock Exchange (MOEX) public data.

Russia and the United States have also agreed to develop measures to halt strikes on Russian and Ukrainian energy facilities for a period of 30 days that began on March 18, the Kremlin said.