Economist Alexander Nazarov warned of the implications of Western sanctions against Russia on global food security, as the restrictions hinder exports of staples from Russia, especially fertilizers.
The expert said in a post on his channel in the Telegram application today, Thursday: “This year the world was able to avoid hunger and even a significant increase in the price of bread thanks to the fact that Russia does not also interfere with the export of Ukrainian grain, thanks to the record bread season in Russia “. the price is below its pre-war level.
He added: “If bread prices have risen at present, it is not due to a shortage of wheat, but due to global inflation that has erupted due to the policies of central banks in the West, but the situation may change next year. This year, despite the grain deal for Ukrainian wheat, the West does not fulfill its obligations and prevents the export of not only fertilizers, but also grain from Russia, which threatens with serious consequences.
He continued: “At a time when the West continues to accuse Russia of organizing a famine in poor countries, Europe is buying Ukrainian wheat for itself, and poor countries are getting almost nothing from Ukrainian wheat, noting that the deal was launched primarily to help those in need. . countries and avoid a food crisis. “.
Regarding energy markets, he said: “The same situation is observed with the supply of energy resources. Europe used to buy oil and gas from Russia, but with the imposition of sanctions on Russian oil and gas, these supplies to global markets have decreased. Now rich Europe, which has a strong purchasing power, oil and gas from other suppliers at the expense of developing countries. Naturally, these countries are facing energy shortages and in light of rising energy prices, I believe that the world, especially poor countries, is waiting for a sharp rise in food prices at a level exceeding the rate of mainstream inflation.
Earlier today, the Russian Foreign Ministry said that the sanctions imposed on Russia led to a decrease in the export of Russian fertilizers in the period from March to September of this year by 38% compared to the same period last year.
According to a ministry spokesman, consumers received about 8 million tons less goods than usual. He indicated that the amount received (8 million tons) is enough to produce 25 million tons of food or feed about 105 million people.