G7 urges countries and companies with food stocks to help ease shortage crisis

G7 urges countries and companies with food stocks to help ease shortage crisis
Credit: Government of Japan / Creative Commons

The seven G7 powers, meeting at a summit in Bavaria on Tuesday, urged countries and companies with “large food stocks” to help alleviate the global food shortages.

G7 members also pledged to contribute $ 4.5 billion additional resources to combat food insecurity.

“As a short-term recourse, we are asking partners who have large stocks of food, as well as the private sector, to make food available without distorting markets, including by supporting the World Food Program ( procurement strategy,” read a G7 statement after the end of the summit on Tuesday in southern Germany.

The G7 is also pledging an additional $4.5 billion to address food insecurity, bringing the effort this year to around $14 billion, according to the statement.

G7 leaders also reiterated their “urgent call on Russia to end, unconditionally, the blockade of Ukrainian Black Sea ports, the destruction of essential port and transport infrastructure, silos and grain terminals."

Furthermore, leaders denounced the illegal appropriation of agricultural products and equipment in Ukraine by Russia, and to all other activities that hinder the production and export of production and Ukrainian exports of foodstuffs”.

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“These actions can only be seen as a geopolitically motivated attack on global food security,” stated G7 leaders. The Russian invasion of Ukraine, including the blockade of Black Sea ports, is driving up food prices and contributing to the global spike in inflation.

Russia, for its part, denies having blocked the passage of cargo ships and accuses Western sanctions of contributing to the food crisis.

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