Melnichenko allowed the rise in food prices in the world due to the conflict in Ukraine

If the conflict between RUSSIA and Ukraine is not resolved, the world risks facing a global food crisis, said the sanctionedEU Andrei Melnichenko. According to him,

The world is facing a global food crisis if the conflict between Russia and Ukraine is not resolved, says Russian billionaire Andrei Melnichenko (worth $17.9 billion, according to FORBES). He told REUTERS about this through his representative.

Global fertilizer prices have skyrocketed, he said, and they are "no longer affordable for farmers" and food supply chains, already disrupted by the covid-19 pandemic , are now suffering from sanctions. The victims of this crisis will be agriculture and food products, Melnichenko believes.

“This will lead to even higher food inflation in Europe and likely food shortages in the world's poorest countries,” Melnichenko said. “The events in Ukraine are really tragic. We urgently need peace,” he added.

Melnichenko ceased to be the owner of SUEK and EuroChem amid EU sanctions Business

On March 9, the European Union imposed sanctions against 14 Russian businessmen, including Melnichenko. Brussels cited the participation of entrepreneurs in a meeting with President Vladimir Putin after the start of Russia's special operation in Ukraine, where the impact of sanctions on the Russian economy, was discussed as one of the reasons for the imposition of sanctions. The EU believes that these individuals "provide support and benefit" from the Russian government or "provide it with a significant source of income."