Important talks between Russia and Ukraine are going on in Istanbul, Turkey. If this dialogue is successful, then the whole world can get relief from the problem of inflation. In fact, the diplomats of both the countries are discussing restrictions on grain exports in the presence of United Nations (UN) and Turkish officials. Kremlin spokesman Dmitry Peskov said discussions on the grain issue were ongoing and talks were being held through military officers.
Significantly, the war between Russia and Ukraine has been going on since February this year. Russia has captured many important bases of Ukraine. These include many important places related to the Black Sea. Apart from this, Russia has either captured or continues to attack many important ports of Ukraine. In such a situation, the export of food grains from Ukraine has been banned for about five months. To end this deadlock, the UN and Turkey have insisted on starting talks between Russia-Ukraine.
How is the Russia-Ukraine crisis affecting the whole world?
Due to the impasse caused by Russia, food inflation has been recorded all over the world. The Food Price Index of the International Food and Agriculture Organization (FAO), which tracks food prices across the world, reached its all-time high in March itself. This tracker was started only in 1990. That is, in the entire 32 years, the prices of food items were the highest recorded.
Why are food prices rising globally due to Russia-Ukraine?
Kyiv’s exports have been at a standstill since the start of the war between Russia and Ukraine. On the other hand, Western countries have imposed tremendous sanctions on Russia. As a result, exports from Ukraine as well as Russia have declined. Most countries are avoiding direct purchases from Russia. In such a situation, food inflation is at the highest level.
Both these countries are powerhouses in terms of export of food grains. These two countries meet 24 percent of the world’s wheat requirements. Not only this, Russia-Ukraine also fulfills 57 percent of the world’s sunflower oil requirement. According to UN Comtrade, these two countries were also responsible for 14 percent of the world’s corn exports from 2016 to 2020. But Russia-Ukraine have been lagging behind in exports since the start of the war, and many countries have faced shortages of these food items.
Ukraine joins NATO technical cooperation program
Kyiv. In the midst of the Russo-Ukraine war, the Ukrainian Defense Minister has said that his country has become an associate member of the multilateral interoperability program. It takes care of the technical cooperation of the armies of NATO member countries. In this way, NATO countries have acknowledged Ukraine’s strong IT capability. Ukraine’s Defense Minister Oleksey Reznikov said, “I am confident that we will play our best role in the development of collective security.”
Expansion
Important talks between Russia and Ukraine are going on in Istanbul, Turkey. If this dialogue is successful, then the whole world can get relief from the problem of inflation. In fact, the diplomats of both the countries are discussing restrictions on grain exports in the presence of United Nations (UN) and Turkish officials. Kremlin spokesman Dmitry Peskov said discussions on the grain issue were ongoing and talks were being held through military officers.
Significantly, the war between Russia and Ukraine has been going on since February this year. Russia has captured many important bases of Ukraine. These include many important places related to the Black Sea. Apart from this, Russia has either captured or continues to attack many important ports of Ukraine. In such a situation, the export of food grains from Ukraine has been banned for about five months. To end this deadlock, the UN and Turkey have insisted on starting talks between Russia-Ukraine.
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