“We are looking at a crisis of 8 to 9 billion dollars and that is a food crisis as well as a cash crisis so we will be working together with France, with the EU, with other nations around the world to determine the best avenues and modalities available to reach the most people,” Beasley said after a meeting with EU and France representatives on mitigating impact of conflict in Ukraine on global food security.
According to Beasley, famine could strike the world “within 12 to 18 months,” creating a pressing need to launch long and medium term investments in global food security.
Russia and Ukraine are the world's top wheat producers. According to the UN WFP, both countries combined account for 30% of global wheat exports and 20% of maize export.
On February 24, Russia launched a military operation in Ukraine after the breakaway republics of Donetsk and Luhansk appealed for help in defending themselves against Ukrainian provocations. In response to Russia’s operation, Western countries have rolled out a comprehensive sanctions campaign against Moscow.