This was revealed in a statement posted as a thread on its Ghana Embassy’s Twitter account.
The Russian Government argued that the current situation in the agricultural space is not a result of happenings within the last two months, but due to a steady trend of happenings on the global stage in the last two years.
It said; “Food prices started rising in mid-2020 and reached an all-time high in February 2022. This is a real market shock caused by high demand and rising prices on food, raw materials and transportation services, including freight, in the post-COVID recovery period.”
According to Russia, the issues in recent times, especially within the agricultural space, are associated with: “first of all, miscalculations and systematic mistakes in the macroeconomic [strategy] (including financial trade) energy (including climate) and food policies of developed countries. COVID-19 followed by the breach of supply and distribution chains as well as [a] spike in freight and insurance rates.”
It would be recalled that Russia invaded Ukraine in February 2022 following the former Soviet Union leader’s disagreement with NATO’s eastward expansion.
Reports indicate that about 10,000 people have lost their lives following the Russia-Ukraine war.
Due to the invasion, several sanctions have been imposed on Russia by developed countries including UK and US.
Most African countries have claimed that the Russia-Ukraine war is directly affecting their economies and agricultural value chain.
The ongoing conflict has already reduced Russian and Ukrainian exports of crucial commodities such as wheat, sunflower oil, and corn. It has also affected the cost of fuel, prices of fertilizer and other key agricultural inputs.
— Russian Embassy in Ghana (@RusEmbGhanaEng) April 18, 2022