Russia Proposes Joint BRICS Food Reserves to Counter Middle East Crisis Risks
Russia has called for the establishment of joint food reserves with BRICS members and former Soviet republics to mitigate global food security risks arising from the ongoing conflict in the Middle East. Alexander Maslennikov, deputy secretary of Russia's Security Council, highlighted that the closure of the Strait of Hormuz has disrupted one-third of global fertilizer trade, potentially causing crop yields to fall by half if shortages persist. This scenario could drive significant food inflation and increase the number of hungry people worldwide to a record 673 million. While acknowledging risks to domestic security, Maslennikov emphasized opportunities for Russia to expand agricultural exports to Asia, Africa, and Latin America. The proposal aligns with President Vladimir Putin’s upcoming meeting with Indonesian President Prabowo Subianto, where food security is expected to be a key agenda item. International bodies like the World Bank and UN have also warned that rising energy and fertilizer prices triggered by the war will inevitably exacerbate global food insecurity. Russia aims to leverage its position as a major wheat and fertilizer exporter to strengthen economic ties within the Eurasian Economic Union and BRICS bloc.
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Russia Proposes Joint BRICS Food Reserves to Counter Middle East Crisis Risks
Russia has called for the establishment of joint food reserves with BRICS members and former Soviet republics to mitigate global food security risks arising from the ongoing conflict in the Middle East. Alexander Maslennikov, deputy secretary of Russia's Security Council, highlighted that the closure of the Strait of Hormuz has disrupted one-third of global fertilizer trade, potentially causing crop yields to fall by half if shortages persist. This scenario could drive significant food inflation and increase the number of hungry people worldwide to a record 673 million. While acknowledging risks to domestic security, Maslennikov emphasized opportunities for Russia to expand agricultural exports to Asia, Africa, and Latin America. The proposal aligns with President Vladimir Putin’s upcoming meeting with Indonesian President Prabowo Subianto, where food security is expected to be a key agenda item. International bodies like the World Bank and UN have also warned that rising energy and fertilizer prices triggered by the war will inevitably exacerbate global food insecurity. Russia aims to leverage its position as a major wheat and fertilizer exporter to strengthen economic ties within the Eurasian Economic Union and BRICS bloc.
AL-MONITOR: The Pulse of The Middle East