U.N. Chief Warns Russian War is Hurting Lebanon, Poor Countries

Lebanon, facing skyrocketing food and fuel prices amid an unprecedented economic crisis exacerbated by the Russian war, is now seeing its breadbasket “being bombed.”

The United Nations chief has warned that the war on Ukraine is holding “a sword of Damocles” over the global economy, especially poor developing countries.

Secretary-General Antonio Guterres told reporters that “Russia and Ukraine represent more than half of the world’s supply of sunflower oil and about 30 percent of the world’s wheat” and that “grain prices have already exceeded those at the start of the Arab Spring and the food riots of 2007-2008.”

He told reporters that 45 African and least developed countries import at least one-third of their wheat from Ukraine and Russia, and 18 of them import at least 50%. These countries include Lebanon, Egypt, Congo, Burkina Faso, Libya, Somalia, Sudan and Yemen, he said.

“All of this is hitting the poorest the hardest and planting the seeds for political instability and unrest around the globe,” Guterres warned.

Lebanese authorities are in talks with the U.S., India and Canada to find other sources for a country already in financial meltdown.

A ministerial panel led by the economy minister was formed in March to “tackle the food security crisis” in light of Russia’s invasion of Ukraine.

The committee would “protect the markets in terms of preventing monopolization and price manipulation.”