G-7 to counter Russia’s attack on food security

The United States and its Group of 7 allies Tuesday pledged to spend $4.5 billion this year to help ensure food security around the globe, seeking to counter global food shortages caused by Russia’s invasion of Ukraine.

The G-7 leaders said in a statement that the money would be used to ease what they called a “multidimensional crisis” that has left as many as 323 million people at high risk of food shortages, a record.

“We reiterate our urgent call upon Russia to, without condition, end its blockade of Ukrainian Black Sea ports, destruction of key port and transport infrastructure, grain silos and terminals,” the statement said. “These can only be assessed as a geo-politically motivated attack on global food security.”

Food prices have surged since the Russian invasion, which has cut off Ukraine’s exports of grain and has reduced shipments of wheat and oil from Russia. Together, the two countries typically export about 30% of the world’s wheat and 75% of its sunflower oil. The shortages have caused alarm around the globe, with estimates that they could push as many as 40 million people into poverty.

The United States will commit more than half of the new funding for food security — $2.7 billion — to be financed by the $40 billion Ukraine aid legislation passed by Congress last month, according to the White House.

The pledge of $4.5 billion is not going to solve the global shortages. But a statement released by the White House said that $2 billion of the U.S. aid would be used for direct humanitarian intervention in areas facing immediate hunger or famine.