• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2024 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Wanda Rich

    Posted on May 23, 2022

    Featured image for article about Top Stories

    LONDON (Reuters) – The Kremlin said on Monday that the West had triggered a global food crisis by imposing the severest sanctions in modern history on Russia over the war in Ukraine.

    The war – and the West’s attempt to isolate Russia as punishment – have sent the price of grain, cooking oil, fertiliser and energy soaring.

    U.N. Secretary-General Antonio Guterres said on Wednesday that he was in intense contact with Russia, Ukraine, Turkey, the United States and the European Union in an effort to restore grain exports from Ukraine as a global food crisis worsens.

    Russian President Vladimir Putin, the Kremlin said, agreed with the United Nations assessment that the world faced a food crisis that could cause famine.

    “Russia has always been a rather reliable grain exporter,” Kremlin spokesperson Dmitry Peskov said.

    “We are not the source of the problem. The source of the problem that leads to world hunger are those who imposed sanctions against us, and the sanctions themselves.”

    Russia and Ukraine together account for nearly a third of global wheat supplies.

    Ukraine is also a major exporter of corn, barley, sunflower oil and rapeseed oil, while Russia and Belarus – which has backed Moscow in the war and is also under sanctions – account for over 40% of global exports of the crop nutrient potash.

    The United Nations has said 36 countries count on Russia and Ukraine for more than half their wheat imports, including some of the poorest, among them Lebanon, Syria, Yemen, Somalia and Democratic Republic of Congo.

    The Kremlin said Ukraine had made commercial shipping impossible by mining its waters.

    Ukraine has lost some of its biggest seaports – including Kherson and Mariupol – to Russian occupation, and fears Russia may try to seize a third, Odesa.

    Peskov said Russia had not prevented Ukraine exporting grain to Poland by rail – a far slower method – despite the fact that the West was sending in weapons in the opposite direction.

    A U.N. food agency official said two weeks ago that nearly 25 million tonnes of grain was stuck in Ukraine due to infrastructure challenges and blocked seaports.

    U.S. Secretary of State Antony Blinken accused Russia on Thursday of using food as a weapon by holding supplies “hostage” for not just Ukrainians, but also millions around the world.

    (Reporting by Guy Faulconbridge; Editing by Kevin Liffey)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe