WANGELS /Germany/, May 14. /TASS/. The G7 group of nations (the UK, Germany, Italy, Canada, the US, France and Japan) believe the situation in Ukraine worsened the prospects of global economic development, according to a statement approved by foreign ministers of G7 states on Saturday following a three-day meeting in the Wangels municipality in the north of Germany.
Russia’s actions in Ukraine "are leading to steep price rises in commodity markets and the threats we are now seeing to global food security," according to the statement. G7 foreign ministers urged Moscow to stop blocking grain exports from Ukraine.
"As global markets suffer from Russia’s war of choice by rising food and commodity prices, thus affecting the lives of people around the world and exacerbating existing humanitarian and protection needs, we are determined to contribute additional resources to and support all relevant efforts that aim to ensure availability and accessibility of food, energy and financial resources as well as basic commodities for all," the statement said.
"We will address the causes and consequences of the global food crisis through a Global Alliance for Food Security, that is to be launched officially at the G7 Development Ministers meeting, and other efforts in close cooperation with international partners and organizations beyond the G7," heads of G7 foreign ministries noted.
Russian President Vladimir Putin said earlier western sanctions against Moscow hurt the economies of those countries that introduce them, and provoke a global crisis, adding that "the continued sanctions frenzy" will inevitably lead to the most complex consequences for the European Union, for its citizens, as well as for the poorest countries that have already encountered the risks of hunger.