- The ongoing war between Russia and Ukraine is over five months now with no signs of calling a ceasefire in the immediate future. No sooner than the Russian forces invaded Ukraine, the supposedly global leaders led by the United States of America and other advanced countries made huge noises about imposing stringent sanctions to bear upon Moscow from pressing ahead with the invasion. However, what has transpired on the ground is an entirely different story altogether as the sanctions imposed are proving to be of little help in stopping the Russian leadership from going ahead with the ill-advised adventurism. The United Nations too has achieved sweet little in its efforts at enforcing global order by failing to reign in Russian leadership.
PC: Arie Firdaus
- The resultant outcome is spiraling food costs across the globe as the global supply chains are severely disrupted owing to the conflict. No wonder, communities across the world are in the midst of survival challenges coming close on the heels of the pandemic-induced debilitating restrictions. Of course, like-minded and concerned countries have relentlessly undertaken peace efforts to make the two countries reconcile the worthlessness of the mutually destructive battle going on unabated. Welcomingly, recent Ukraine and Russia export deal, brokered by the UN and Turkey, is showing a glimmer of hope as the first major diplomatic breakthrough post-Russian invasion. Hopefully, even more, concrete measures would ensue from here on.
- The importance of the deal can be gauged by the fact that the two countries account for more than a quarter of world wheat exports, but that food shortages are now a global emergency cannot be discounted either. The World Food Programme estimates that 47 million people have moved into acute hunger. Black Sea ports remain heavily mined. So, under the new deal, grain ships with Ukrainian pilots will navigate through a safe corridor and pass through the crucial Bosphorus Strait to reach global markets. As reported, these vessels will be inspected before they arrive to rule out the smuggling of weapons, while the ships will be monitored by a Joint Coordination Centre in Istanbul. In exchange, Russian fertilizers will gain unimpeded access to global markets.
PC: DAILY SABAH WITH AGENCIES
- However, the complex process laid out for unblocking the Black Sea means that these shipments will take quite some time to land in global markets and make a difference to global food prices. As we know, the status of the war remains tricky as Russia has gained the upper hand in eastern Ukraine and has stated that its objectives have expanded. Therefore, not only do both parties have to stick to the deal, but any miscalculation will also scuttle the agreement. Thankfully, India is a surplus country vis-à-vis foodgrain but continued shortages in the global markets raise prices that feed through to other farm commodities, some of which India needs to import. Thus, the Moscow-Kyiv deal must work out to be fruitful to soften food prices globally.
