G7 leaders, joined by Ukrainian president Volodymyr Zelenskyy targeted Russia over the food crisis across the globe and also accused the country of stopping global efforts to end hunger and escalating the crisis.
The statement yesterday comes a day ahead of Russia’s Victory Day - parade where it will celebrate its victory over Nazi Germany in the second world war.
The G7 member-states committed to help Ukraine by ‘macroeconomic stability in the face of the challenges posed by the full-scaled Russian invasion, massive destruction of critical infrastructure and disruption of traditional shipping routes for Ukrainian exports’.
“Putin’s war is causing global economic disruptions, impacting the security of global energy supply, fertiliser and food provision, and the functioning of global supply chains in general. The most vulnerable countries are affected most severely,” the statement said.
The G7 said that in order to mitigate the crisis the member-states are ensuring that sanctions packages are carefully targeted so that delivery of humanitarian assistance or the trade of agricultural products is not affected. The members also reaffirmed their commitment to avoid food export restrictions.
The member-states also said that it will reduce their dependence on Russian energy exports.
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“We commit to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian oil. We will ensure that we do so in a timely and orderly fashion, and in ways that provide time for the world to secure alternative supplies,” the statement released by the White House said.