“With its abundant natural gas supply, Russia has long wielded its resource riches to bludgeon Ukraine, Europe, and other dependent customers. By continuously threatening the future of the Black Sea Grain Initiative, the landmark wartime agreement designed to open up Ukraine’s key farm output for export to world markets, Moscow has also found a way to strangle Kyiv’s agricultural sector—and weaponize resources that aren’t even its own,” writes Foreign Policy.
“This continues to be very much an issue not just for Ukraine producers but also globally,” said Joseph Glauber, a senior research fellow at the International Food Policy Research Institute and former chief economist at the U.S. Department of Agriculture. “Ukraine has been a very important supplier, and if they have to continue with diminished production over another year, that means that the world will have to find wheat and corn from others to replace that.”
“The real problem with all these increased costs and reduced exports out of the Black Sea [is that] the direct cost of that is being felt by Ukraine producers,” Glauber added.