Sergei Lavrov, Russia’s foreign minister, said on Tuesday that’s it’s on to the West & Kyiv to tackle a rising global food crisis brought on by the fighting in Ukraine. Supplies of wheat and several commodities from two countries have been hampered as a result of Russia’s attack in Ukraine & Western sanctions, raising fears of global hunger.
Restrictions on Russia by West
During a visit to Bahrain, Lavrov told reporters that Western nations “created a number of artificial problems”by blocking the ports for Russian ships, affecting logistics and financial systems.”They need to critically examine if doing public relations on the topic of food security is more important to them or taking concrete actions to fix this problem,” he continued. Lavrov also urged Ukraine to demine its territorial waters in order to allow ships to sail through the Black & Azov seas safely.
“If the demining issue is handled, Russia’s naval forces would ensure that these ships can sail freely into Mediterranean and on to their destinations,” Lavrov added. Russia and Ukraine supply around a third of the world’s wheat. President Vladimir Putin informed Recep Tayyip Erdogan on Monday that Moscow was willing to collaborate with Ankara to free up marine shipping from Ukraine, and he blame global food shortages upon “short-sighted” Western policies.
Kremlin blames West
The Kremlin has dismissed charges by the United States and the European Union that Russia has halted grain supplies from Ukraine, accusing the West of instigating the situation by applying sanctions.”These accusations are totally denied by us. On the contrast, we hold Western countrie
s responsible for the events that led to this “In a conference call, Kremlin spokesman Dmitry Peskov remarked. Moscow has asked the west to lift sanctions that it claims are preventing grains exports from Ukraine. The European Central Bank (ECB) recently cautioned that the conflict among Russia and Ukraine has increased financial stability concerns.
Financial crisis rise due to conflict
According to the ECB’s Financial Stability Review report, as financial stability conditions worsen, commodity prices price shocks, exacerbated by Russia’s action in Ukraine, heighten concerns to post-pandemic growth, inflation, & financial conditions with in euro area and globally. “Rising inflationary pressures has threatened to stifle the recovery’s pace in 2022 since late 2021.
“Since the commencement of the Russia-Ukraine conflict, upside risks on euro area inflation i& downside risks in growth have risen considerably,” it stated.
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