The Ukraine War and the price of bread

Tough times ahead
 
Yesterday’s post was about how sanctions are affecting Russia. Today’s post is about how both sanctions and the war are affecting the world, and what we can do to mitigate the negative effects. Specifically, today I’m going to talk about food.

Remember, the purpose of sanctions — which they are accomplishing quite effectively — is to cut Russia off from trade with the rest of the world. That makes life harder on the Russians, but it also means that the rest of the world is cut off from what the Russians normally sell. On top of that, Russia’s invasion has cut Ukraine off from being able to produce and export much of what it normally produces and exports.

Russia and Ukraine are mainly commodity exporters. In the next post I’ll talk about energy, but today I’m going to focus on food. First let’s talk about food. Together, the two countries involved in this war export about a quarter of the world’s wheat exports:

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Πηγή: noahpinion.substack.com