Russia and Ukraine are key players in global energy, food, fertilizer and mineral markets. In the first few days after Russia’s invasion, both the threat and reality of resource flows being reduced drove up global prices, and has impacted the day-to-day life of people and businesses around the world.
Developing and nutrition-fragile countries across Africa and the Middle East will be hit the hardest – Somalia, for example, is reliant on Russia and Ukraine for 100 per cent of its wheat imports and is currently experiencing its worst drought in years.
The potential scale of disruption to food and energy markets increases with every week the war continues. This event launches the Environment and Society programme’s latest briefing paper The Ukraine war and threats to food and energy security: Cascading risks from rising prices and supply disruptions.
The panel discusses:
- The political, socio-economic and resource pressures already faced by the international community prior to Russia’s invasion of Ukraine.
- Direct and cascading impacts on the complex and interconnected energy, minerals, food and fertilizer markets, and policy or market responses that may exacerbate these impacts.
- Geopolitical ramifications that will affect the evolution of the conflict, as well as longer-term international cooperation and security.
- Measures that governments can take to build resilience, both to the ongoing impacts of the situation in Ukraine and to future risks of market disruption and geopolitical upheaval.