The US rarely stands aside from global problems. At the moment, markets are going through hard times: the energy crunch, record high inflation, and the possibility of food shortages.
The US has already voiced concerns about problems with food and energy supplies. Although this is not a big issue for the United States, it is willing to cooperate to mitigate the disaster. President Joe Biden on Thursday said there would be food shortages around the globe because of Russia's invasion of Ukraine. "It's going to be real," he noted. "Because both Russia and Ukraine have been the breadbasket of Europe in terms of wheat, for example." Apart from food shortages, Biden mentioned soaring energy prices. This is why it is necessary to diversify commodities as much as possible, primarily for European countries that hugely depend on Russian gas. Western leaders outlined the need to stop Russia from using gas and oil as leverage. Food security was one of the main topics for discussion in emergency meetings with NATO leaders, the European Union, and the G7. "We are in the process of working out with our European friends, what it would be, what it would take to help alleviate the concerns relative to food shortages. We also talked about a significant major US investment among others in terms of providing for the need for humanitarian assistance, including food as we move forward," Biden said.
The UN is also worried about a possible food shortage. Eugenio Dacrema, the UN analyst at the World Food Program, predicted a food catastrophe in several countries. He also envisaged grain shortages in North Africa and other states due to the crisis in Ukraine. The food disaster may occur sooner because of a decline in exports volumes from Russia.
