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15.05.202207:16 Forex Analysis & Reviews: Germany is seriously concerned about the prospects of global famine worldwide

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During a press conference following the meeting of the foreign ministers of the G7 countries, German Foreign Minister Annalena Berbock said that due to the armed conflict between Russia and Ukraine, the world is threatened with global famine. In addition, the German politician stressed that the consequences of the food catastrophe are already being felt, because today many states are facing serious problems in providing for the citizens of their countries. It was this topic, Berbock said, that was one of the key issues during the G7 meeting.

Exchange Rates 15.05.2022 analysis

The German Foreign Minister considers the tense geopolitical situation in eastern Europe as the main reason for such a depressing situation. In connection with the Russian-Ukrainian conflict, difficulties are increasingly arising with the supply of raw materials and products, as well as prices for them are permanently increasing. According to the Minister of Foreign Affairs, the best solution to this problem could be the stabilization of the situation in Ukraine. In the event of the cessation of the military conflict on the territory of this state, Berbock said, world prices for grain and food would normalize in the shortest possible time.

On Friday, commenting on the consequences of anti-Russian sanctions, Deputy Chairman of the Russian Security Council Dmitry Medvedev said that due to the restrictions imposed, the world may face a political, financial and food crisis, as well as severe hunger in individual states.

According to Medvedev, there is a high probability of a tangible decline in all other areas of the old "American-centric" world.There has been a lot of talk about the delayed prospects of anti-Russian sanctions for the whole world before. So, at the end of March, UN Secretary-General Antonio Guterres warned that the military conflict in eastern Europe and restrictions on Russia threaten the whole world with global famine. Then the main reason for a possible food catastrophe, the Secretary General called a sharp increase in the cost of energy and fertilizers.

Irina Maksimova
Analytical expert of InstaForex
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