The Ukrainian crisis and Western sanctions against Russia threaten the bread basket of the world

London (ST): The Ukrainian crisis and Western sanctions imposed on Russia have threatened food supplies and livelihoods in Europe, Africa and Asia for those who depend on the vast, fertile agricultural lands of the Black Sea region known as the “breadbasket of the world” due to the interconnectedness of the global economic system.

International Grains Council Director Arno Petti told the Associated Press that if the crisis in Ukraine is prolonged, countries that depend on wheat imports from it may face shortages starting next June, which in turn could lead to food insecurity and throw more people into poverty.

As the crisis intensified, Ukrainian farmers were forced to neglect their fields, and the ports that exported wheat and other basic foodstuffs to all parts of the world were closed to turn them into bread, pasta and animal feed.

There were fears that Russia, the major agricultural power, might halt its grain exports in response to Western sanctions, as global stocks are limited.

Economic rebounds began to appear in the world with sharp increases witnessed by global markets during the past days, especially in the prices of oil, gas, minerals and grains, where prices rose by 55 percent a week before the launch of the Russian special military operation in Ukraine, amid fears of what could happen next.

Europe is preparing for a possible shortage of products from Ukraine and an increase in the price of livestock feed, which will mean an increase in the cost of meat and milk.

Russia and Ukraine account for nearly a third of the world’s wheat and barley exports, and Ukraine is a major supplier of corn and sunflower oil.

K.Q.