UN: Poor countries face a ‘three-way’ crisis because of the war in Ukraine

United Nations Secretary-General Antonio Guterres – Photo: REUTERS

Russia is the world’s leading exporter of oil and gas. Meanwhile, both this country and Ukraine are major cereal producers, accounting for about a third of total global exports.

After Moscow launched a “special military operation” in Ukraine, world commodity prices rose to a record, negatively affecting countries that depend on imports.

According to Reuters news agency, on April 13, Guterres told reporters that the current war in Ukraine was affecting the world’s food, energy and financial situation.

“The war is accelerating a three-way food, energy and financial crisis, endangering the world’s most vulnerable people, nations and economies,” Guterres said.

We are now facing a perfect storm that threatens to devastate the economies of many developing countries.

Some 1.7 billion people have been hit hard by disruptions in food, energy and financial supplies, Guterres said. One-third of these already live in poverty.

Mr. Guterres said there are 36 countries that depend on Russia and Ukraine for more than half of their wheat imports, including some of the poorest and most vulnerable countries globally.

The United Nations Secretary-General recommends ensuring the steady flow of food and energy through open markets and reforming the international financial system. Countries can take advantage of the current crisis to move toward phasing out coal and other fossil fuels, while accelerating the deployment of renewable energy.

“Above all, this war must end,” Guterres said.