Russia-Ukraine War: Global food prices will rise further if West intensifies its economic sanctions on Russia, warns Vladimir Putin

Russian Agriculture Minister Dmitry Patrushev said that the Russian food security was ensured and that Moscow would continue to service its export obligations for global agriculture markets, Telegraph reported.

FPJ Web DeskUpdated: Thursday, March 10, 2022, 10:07 PM IST
article-image
Russian President Vladimir Putin | Photo: Twitter Image

Global food prices will rise further if the West intensifies its economic pressure on Russia, President Vladimir Putin has warned on Thursday during a televised address.

Putin said that Western sanctions on Moscow for its actions in Ukraine could send global food prices soaring, as Russia was one of the world's main producers of fertiliser, which is essential to the global supply chain, news agency AFP reported.

"Russia and Belarus are some of the biggest suppliers of mineral fertilisers. If they continue to create problems for the financing and logistics of the delivery of our goods, then prices will rise and this will affect the final product, food products," Putin said at a televised address during a government meeting.

According to Putin, Russia and Belarus are some of the biggest suppliers of mineral fertilisers and if the West continue to create problems for the financing and logistics of the delivery of goods, then prices will rise and this will affect the final product.

Russian Agriculture Minister Dmitry Patrushev said that the Russian food security was ensured and that Moscow would continue to service its export obligations for global agriculture markets, Telegraph reported.

Earlier, the Kremlin issued a chilling warning to the West saying it must understand the "danger" of sending arms to Ukraine.

Due to its war on Ukraine, Russia has become the most sanctioned in the world, according to a New York-based sanctions watchlist site.

Reportedly, sanctions were first imposed by the US and its allies on Russia on February 22 a day after President Vladimir Putin declared the two Ukrainian rebel regions of Donetsk and Luhansk as "independent states". After Russia announced its military operations against Russia on February 24, hundreds more sanctions followed.

US President Joe Biden termed the package of economic sanctions enforced against Russia "most significant in history" and claimed that it has caused consequential damage to the Russian economy.

(with agency inputs)

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Daily Horoscope for Tuesday, August 16, 2022, for all zodiac signs by astrologer Vinayak Vishwas...

Daily Horoscope for Tuesday, August 16, 2022, for all zodiac signs by astrologer Vinayak Vishwas...

Independence Day 2022: Professors, students demand reforms in education as India turns 75

Independence Day 2022: Professors, students demand reforms in education as India turns 75

Mumbai: For rash driving that caused brain injury to toddler, 6-months-jail

Mumbai: For rash driving that caused brain injury to toddler, 6-months-jail

Mumbai: Employer to pay Rs 20 lakh to kin of labourer who died after falling off high-rise during...

Mumbai: Employer to pay Rs 20 lakh to kin of labourer who died after falling off high-rise during...

Committed to provide quota benefits to OBCs, Maratha & Dhangar communities: CM Eknath Shinde

Committed to provide quota benefits to OBCs, Maratha & Dhangar  communities: CM Eknath Shinde