Russian Oligarch Warns of Food Crisis; Stocks Up on Caviar and Champagne By Richard Miller (London)
The warnings of a global food crisis are coming not only from the Dissent Right thinkers like Mike Adams, but now from the seemingly unlikely source of Russian oligarchs who through Western sanctions and other actions have lost $ 80 of their wealth so far. Thus, the “poor” fellows are “suffering,” maybe needing to get smaller luxury cruisers. But the rest of humanity, we the little people, face a world with soaring fertiliser and fuel costs, geared to severely impact upon agricultural production, all set on the stage of a perfect storm of an inflationary spiral. It is simply too much to believe that all of these factors are coming together by chance, with the Covid tyranny, and scientific reason dictates that a common cause be sought in the machinations of the globalist elites, who never sleep, never rest, but move relentless to their goal of the total enslavement of humanity with satanic energies.
- “Soaring fertilizer prices as a result of the conflict may mean a food crisis, the fertilizer tycoon warned.
- Russia has banned some Russian exports, including fertilizers, amid Western sanctions.
- Fertilizer prices may also prevent second-largest exporter, the US, from making up global wheat shortfalls.
- Russian oligarchs have come under swift sanctions from the US, UK, and EU in response to the war in Ukraine.
- They have lost a combined $80 billion of their wealth so far.
- Many Russian companies and oligarchs are invested in the soccer world. Here's who could be affected.
Since Russia launched its military invasion into Ukraine two weeks ago, Russian sports organizations and oligarchs have faced a swift backlash in the soccer world.
Various sports bodies, including FIFA, major tennis federations, Formula 1, the International Paralympic Committee, and major boxing sanctioning bodies have banned events in Russia or banned athletes from competing under the Russian flag.
In soccer, some Russian oligarchs who own soccer teams have been directly impacted by sanctions, while others could soon become targets of sanctions.
Poland, Sweden, and the Czech Republic announced that they would boycott FIFA World Cup qualifying matches against Russia. FIFA and UEFA later banned the Russian national team from international competitions.
Here are some of the Russian oligarchs and Russian sponsors in the soccer world.
Sanctioned Russian fertilizer and coal tycoon, Andrey Melnichenko, has warned that the Russian invasion of Ukraine will lead to a world food crisis and called for the war to end.
"The events in Ukraine are truly tragic. We urgently need peace. As Russian by nationality, Belarusian by birth, and Ukrainian by blood, I feel great pain and disbelief witnessing the brotherly peoples are fighting and dying," Melnichenko said in comments sent by his spokesperson to Insider.
Reuters first reported Melnichenko's comments.
"One of the victims of this crisis will be agriculture and food," Melnichenko also said, adding that the war has "already led to soaring prices in fertilisers which are no longer affordable to farmers."
The Russian billionaire is the founder of Russia's largest ammonium nitrate and coal producers, EuroChem and SUEK. He is also among the Russian oligarchs who have been targeted by Western sanctions due to the conflict.
Russia's invasion has dramatically pushed up the cost of key agricultural commodities such as wheat and corn, and imperiled food supplies.
The war threatens to disrupt production in Ukraine, which is a major exporter of the grains. Russian exports are also expected to be curbed as the packages of sanctions imposed on Russia prevent many firms from conducting business with the country.
The fallout of the conflict has also seen fertilizer prices soar, adding to farmers' costs, and further inflating food prices that were already sitting at or near record highs as a result of the pandemic.
Russia is a major producer of fertilizer – including potash, phosphate and nitrogen – accounting for 13% of global production, according to Reuters. Production is heavily reliant on natural gas, the cost of which has also climbed as a result of the conflict in Ukraine.
Fertilizer prices may also impact the US' ability to offset the loss of Russian and Ukrainian exports. US wheat production ranks second in the world after Russia, but it's unlikely it can make up the shortfall in lost exports. The US wheat crop has already been planted for the year, while energy and fertilizer prices are proving an obstacle for many US farmers, The Financial Times reported.
Earlier this month, Russia's Ministry of Trade and Industry called on the country's fertilizer producers to suspend exports, Reuters reported.
Melnichenko warned that food supply chains were already impacted by the pandemic, saying that "now this will lead to even higher food inflation in Europe and likely food shortages in the world's poorest countries."
Melnichenko is among the billionaire Russian oligarchs who have been placed on an EU sanctions list in response to Moscow's decision to invade Ukraine. A spokesperson for Melnichenko previously told Insider that the EU's accusations about his connections to the war in Ukraine are false.
Due to the sanctions, Melnichenko resigned as a member of the board and main beneficiary of both EuroChem and SUEK last week.
Eurochem claims to be among the top five fertilizer companies globally, according to Reuters.”
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