👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Don't throw Russia out of G20, aid group says, with eye on food crisis

Published 03/31/2022, 08:53 PM
Updated 03/31/2022, 09:06 PM
© Reuters. FILE PHOTO: Ears of wheat are seen in a field near the village of Zhovtneve, Ukraine, July 14, 2016.  REUTERS/Valentyn Ogirenko/File Photo

By Andrea Shalal

WASHINGTON (Reuters) - Excluding Russia from the Group of 20 major economies and other international institutions could slow efforts to address a worsening global food crisis exacerbated by the war in Ukraine, the head of German aid group Welthungerhilfe (WHH) told Reuters.

Mathias Mogge, chief executive of the group, which serves 14.3 million people with projects in 35 countries, said it was critical to maintain communication with Russia, one of the world's largest producers of wheat, in tackling the crisis.

"Of course, Russia is the aggressor here, and there needs to be sanctions and everything. But in a humanitarian situation as we have it today, there must be open lines of communication." Mogge said in an interview this week.

Mogge's comments come days after U.S. President Joe Biden said he thinks Russia should be removed from the G20, although experts say that is unlikely to happen given lack of support from India, China and several other G20 members.

Russia's invasion of Ukraine in February is driving food prices sharply higher across the world and triggering shortages of staple crops in parts of central Asia, the Middle East and north Africa, according to United Nations officials.

The war, which Russia calls a "special military operation," has slashed shipments from the two countries, which together account for 25% of world wheat exports and 16% of corn exports, driving prices sharply higher on international markets.

© Reuters. FILE PHOTO: Ears of wheat are seen in a field near the village of Zhovtneve, Ukraine, July 14, 2016.  REUTERS/Valentyn Ogirenko/File Photo

Mogge said he expected Group of Seven leaders to address the issue during their upcoming meetings.

Russia was still part of what was then the Group of Eight during the last food crisis of 2007 and 2008, and played a constructive role in reducing hunger worldwide, Mogge said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.