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Sanctions against Russia have severe influence on global agricultural market — official

Russia’s Deputy Minister of Agriculture Sergey Levin believes that the current situation on the food market is largely the result of this macroeconomic policy, as well as "uncontrolled emission and accumulation of debt"

TASHKENT, July 25. /TASS/. Sanctions against Russia could have dire consequences for an already unbalanced global agricultural market, Russia’s Deputy Minister of Agriculture Sergey Levin announced on Monday.

"Sanctions can have very serious consequences in the context of a global agriculture market imbalance. Countries' and regions' food security is also under threat," he warned at the seventh meeting of SCO agriculture ministers in Tashkent.

Levin believes that the current situation on the food market is largely the result of this macroeconomic policy, as well as "uncontrolled emission and accumulation of debt".

"Unlawful restrictions hinder the movement of agricultural and food products. Bans on supplies of our products, among other measures, have a negative impact on Russia's exports. Pressure from unfriendly countries on other states in order to reduce the volume of purchases of Russian goods, including food, and significantly affects these opportunities," he added.

According to him, last year Russia increased exports of agricultural products to the global market by 21%, with a monetary value reaching $37 bln. "This year we also forecast good results in both production and exports of agricultural products. This will allow our country to continue to contribute to the fight against hunger and malnutrition," Levin concluded.

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