Russian President Putin Blames U.S. Money Printing And EU Policies On Sanctions For High Energy And Food Prices

Russian President Vladimir Putin. © Sputnik/Mikhail Metzel 

RT: Russia not to blame for global food crisis – Putin  

Moscow is ready to aid in transporting Ukrainian grain, but Western sanctions make it impossible, the Russian president has said  

The restrictions imposed by the US and its allies against Russia and Belarus will only exacerbate the looming global food crisis by affecting the fertilizer trade and sending food prices even higher, Russian President Vladimir Putin has said.

In a special TV interview on Friday evening following a meeting with African Union head Macky Sall in Sochi, Putin accused Western leaders of trying "to shift the responsibility for what is happening in the world food market." 

Read more ....  

Update #1: Putin: Europe's 'Stupid, Short-Sighted' Policies Provoked Energy, Food Crises (Sputnik)  

Update #2: Putin Says US Decision To Print Money Is Behind Soaring Food Prices (Zero Hedge)  

WNJ Editor: Putin does have a point. Inflation/high energy prices/problems with food supplies .... these were issues before the Ukraine war. But the current policies are making the current crisis even worse. 

Disconnecting the Russian banking system from SWIFT means that African and Middle Eastern nations dependent on Russian grains and fertilizers cannot now make an order and pay for it. This is one of the reasons why the head of the African Union was in Russia today to meet Putin and discuss establishing a mechanism to buy these vital Russian exports (link here). 

Here is an easy prediction from the result of today's meeting.

Expect a number of these African nations establishing banking ties with Russian banks to purchase goods in rubles in the same manner that some EU nations are paying for Russian natural gas. I also expect a number of Middle Eastern countries that are dependent on Russian grains will also be making the same arrangements.

There are also other Western policies that are contributing to the global food crisis. 

In the country that I live in, Canada is a major exporter of wheat and other food products. But to produce the quantity that it does, it needs to purchase Russia fertilizer. You would think that since Canadians and the world are facing skyrocketing food prices that governments would try their best to alleviate the situation. But not in Canada. The Canadian government has imposed a 35% tariff on Russian fertilizer, thereby imposing crippling costs on our farmers and higher prices .... Ottawa will not ease Russian fertilizer tariff (Western Producer).