Live Updates: Russia’s War in Ukraine
Russian President Vladimir Putin said Moscow was “making every effort to provide critical products” to countries affected by recent price volatility, during a speech at a summit in Kazakhstan on Thursday.
“Other regional associations face many acute problems, including increased volatility in world prices for energy resources, food, fertilizers, raw materials and other important goods,” Putin said during his address. at the Conference on Interaction and Confidence-Building Measures. in Asia (CICA) in the Kazakh capital Astana.
“This leads to a deterioration in the quality of life in both developed and developing countries. Moreover, there is a real threat of famine and widespread social upheaval, especially in the poorest countries.
“Russia, for its part, is making every effort to provide essential products to countries in need. We call for the removal of all artificial and illegitimate obstacles to restoring the normal functioning of global supply chains in order to address pressing food security challenges,” Putin said.
The Russian leader did not refer to the war in Ukraine in his remarks. However, he again criticized NATO for “the failure of its policy”, referring to its role in Afghanistan.
“After more than 20 years of military presence of the United States and NATO [in Afghanistan]the failure of their policies, has not been able to independently resolve issues related to terrorist threats,” Putin said.
Putin said that together with other Asian countries, Russia seeks to form an “equal and indivisible security system based on the universally recognized principles of international law of the Charter of the United Nations”.
A bit of context: Putin’s invasion of Ukraine in February pushed up prices for energy and other commodities.
In the case of wheat, prices then fell sharply after hitting a record high in March, as investors cheered a UN-brokered deal with Turkey to restart grain exports from major Ukrainian ports.
However, natural gas prices rose further as Russia gambled with supplying Europe through key pipelines and heat waves drove up electricity consumption, the economic impact of the war in Ukraine still making itself felt around the world.