News
Global food prices at risk as Russia suspends critical grain deal
Global food prices are at risk following Russia’s suspension of the UN-brokered grain export deal
NATO is calling on Russia to urgently resume the UN grain export deal with war-torn Ukraine, amid fears for skyrocketing global food prices.
This follows Russia sensationally suspending its part in the trade.
So far, Russia has blocked 2 million tons of grain on 176 vessels in the Black Sea, which is enough to feed over 7 million people.
Russia blames Ukraine for the Crimea bridge explosion, and therefore says they will not participate in the critical deal.
The grain export trade is a main driver in keeping global food prices down.
“Any act by Russia to disrupt these critical grain exports is essentially a statement that people and families around the world should pay more for food or go hungry. In suspending this arrangement, Russia is again weaponising food in the war it started.”
U.S. Secretary of State Antony Blinken
The UN says it has indirectly prevented 100 million people from falling into extreme poverty.
UN Chief António Guterres’ says he is ‘deeply concerned’ and will now focus on Russia resuming the essential initiative.
It follows Russia’s minister of Agriculture claiming Russia will give 500,000 tons of grain to the poorest countries over the coming months.
“Russia is ready to supply the poorest countries with up to 500,000 tons of grain free of charge in the next 4 months.”
Russian Minister of Agriculture Dmitry Patrushev
-
Money4 days agoASX positioned for strong start after positive stock rebound
-
News4 days ago
Apple’s iPhone 16 event puts AI back into the spotlight
-
Leaders5 days ago
Business leaders use awards to build influence and credibility in a competitive market
-
Leaders4 days ago
Philadelphia prepares for the first debate between Harris & Trump
-
Leaders5 days ago
Strategic investments for sustained business growth and long-term success strategies
-
Leaders3 days ago
Trump vs. Harris: first and only debate commences in Philadelphia
-
Leaders3 days ago
Trump & Harris conclude fierce debate, rumours of a second showdown emerge
-
News1 day ago
Billionaire & engineer make history after world’s first private space mission
