The leaders of the G7 countries said they would allocate $4.5 billion to tackle the global food security crisis and called on countries and companies with food stocks to ‘help address global food shortages without distorting markets’. The leaders noted that sanctions against Russia will not target food products.
The leaders of the G7 countries – the United States, Germany, the United Kingdom, Canada, Canada, France, Italy and Japan – issued a joint statement on ‘global food security’ on the final day of the G7 Leaders Summit hosted by Germany at the Elmau Palace in Bavaria.
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In the statement, the leaders of industrialized countries called on countries and companies with large food stocks to ‘help address global food shortages without distorting markets’, saying: “For short-term relief, we call on partners with large food stocks and the private sector to make food accessible without affecting markets, including by supporting the UN World Food Programme’s food purchasing strategy. We urge all countries to avoid excessive food stocks that could lead to further price increases.”
It was reported that G7 leaders pledged an additional 4.5 billion dollars to tackle the global food security crisis, bringing global food security commitments to 14 billion dollars in 2022.
The statement said that the sanctions against Russia would not target food products, claiming that “Moscow has illegally seized agricultural products and equipment in Ukraine” and demanded an “unconditional end” to this. “We will step up our efforts to help Ukraine continue to produce agricultural products for the upcoming harvest season,” the statement said.
While the United Nations (UN) has previously warned of an ‘unprecedented global hunger crisis’ due to the Ukraine crisis, G7 leaders are expected to make new commitments on food security and tackling rising energy prices.