Putin makes a statement on world food markets

July 8, 2022 18:28

Russian President Vladimir Putin said on Friday that the situation in global food markets would remain “tense” amid the fallout from the crisis in Ukraine.
In a televised meeting with a group of officials, Putin added that Russia “will have to fulfill its obligations on food exports.”
Putin stressed that continuing to impose sanctions on Russia might lead to catastrophic price increases in energy markets, harming consumers across Europe.
Europe has historically relied on Russia for regarding 40% of its natural gas needs, most of which is delivered via pipelines.
“Yes, we know that the Europeans are trying to find an alternative to Russian energy resources… However, we expect the result of such measures to be an increase in gas prices in the spot market and an increase in the costs of energy resources for end consumers,” the Russian president said during the meeting.
“All this shows once once more that the limitations of sanctions once morest Russia cause much more harm to the countries that impose them. What’s more, the use of sanctions can lead to even more severe, and without exaggeration, potentially catastrophic consequences on the global energy market,” he said. “.
Gas prices in Europe rose in 2021 as supply failed to keep pace with demand driven by the recovery from the emerging Corona virus pandemic.
The Ukrainian crisis contributed to the disruption of the energy and grain market globally, with agricultural exports from Ukraine and fertilizers and grains from Russia disrupted.
And called on the United Nations, the European Union, the African Union and many specialized organizations to facilitate exports of grain and fertilizers to avoid hunger, which threatens millions of people in many poor countries.
Russia has repeatedly announced that it is ready to facilitate the resumption of Ukrainian wheat exports.

Source: Archyde.com