Suriya Jayanti: Ukraine’s growing fuel crisis will cause global hunger and worsen inflation
, head of Ukraine’s Business and Trade Association in Brussels, Ukraine supplies 88% of Europe’s sunflower oil, 41% of its rapeseed, and 26% of its honey. The Middle East even more at risk of food shortages due to Russia’s invasion of Ukraine. Lebanon, for example, gets overWhat is not being widely reported is the degree to which the looming collapse of the Ukrainian agriculture sector is due to fuel shortages.
Taras Panasyuk, Commercial Director for West Oil Group , one of Ukraine’s top retail fuel companies, said the “situation is really very serious.” Planting season starts in a few weeks, but farmers do not have fuel to sow the fields and have no confidence that they will have fuel with which to harvest later in the year. An agricultural official who requested to remain unnamed was more explicit, “Our agricultural sector is getting completely f*cked.
To be clear, Ukraine’s current diesel shortage is not due to sanctions on Russian oil and gas, nor will it be exacerbated by stricter sanctions. The global economic reawakening since COVID-19 receded had already
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