Title: EU Warns of Russia’s Attempts to Create Economic Vulnerabilities and Global Food Insecurity
Subtitle: EU Urges Developing and G20 Countries to Push Russia to Restore Black Sea Export Agreement
The European Union has issued a warning to developing countries about Russia’s alleged attempts to create economic vulnerabilities and global food insecurity. EU foreign policy chief Josep Borrell has urged developing nations, as well as countries in the Group of 20 (G20), to put pressure on Moscow to return to the Black Sea export agreement and cease targeting Ukraine’s agricultural infrastructure.
The Black Sea export agreement, which was brokered in July 2022 by the United Nations and Turkey, was designed to address the global food crisis triggered by Russia’s invasion of Ukraine. However, Russia’s withdrawal from the agreement has had significant repercussions, leading to increased grain prices and the targeting of Ukrainian ports and grain infrastructure.
Borrell has accused Russia of utilizing food as a weapon, criticizing their actions as an attempt to solve problems they themselves created by offering discounted grain shipments. Russian President Vladimir Putin, on the other hand, has endeavored to replace Ukrainian grain exports to Africa, emphasizing Russia’s role in global food security.
To regain control over grain and fertilizer exports, Russia has demanded certain improvements, including reconnecting the Russian Agricultural Bank to the SWIFT international payments system. The EU, however, has denied any impact of sanctions on Russia’s food and fertilizer exports to third countries.
In a bid to counter Russian disinformation surrounding global food security and the impact of EU sanctions, UN Secretary-General Antonio Guterres has unveiled a proposal to allow a subsidiary of the Russian Agricultural Bank to regain access to SWIFT. Borrell has shared the letter with his EU counterparts, urging them to collectively address the issue of global food security ahead of the upcoming UN General Assembly meeting in New York next month.
Highlighting the urgency of the situation, US Secretary of State Antony Blinken is set to chair a UN Security Council meeting on famine and global food insecurity caused by conflict. This meeting aims to drive international efforts in dealing with the crisis and safeguarding global food supplies.
As the world grapples with the threat of a global food crisis, the EU remains dedicated to advocating for food security. It has called on its member countries to intensify their lobbying efforts, particularly in light of the upcoming UN General Assembly meeting, where major world leaders will convene to tackle this critical issue.
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