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President Biden said on Thursday that a food shortage “is going to be real” as a result of sanctions imposed on Russia by the US government following Russian President Vladimir Putin’s invasion of Ukraine.
“As far as food shortage, yes, we have talked about food shortage, and it will be real,” Biden said during a press conference at a NATO summit in Brussels, Belgium, in following a meeting with other world leaders.
“The price of sanctions is not only imposed on Russia,” he added. “It is also imposed on a very large number of countries, including European countries and our country as well.”
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Biden said “Russia and Ukraine have been the breadbasket of Europe in terms of wheat” and insisted he and other leaders had a “long discussion in the G7” about the need to “increase and spread” food production.
“On top of that, we’ve talked about urging all European countries, and all others, to end trade … limitations on sending food overseas,” Biden said. “And, so, we are in the process of working out with our European friends what it would take to help ease concerns about food shortages.”
Biden’s warning of a ‘real’ food shortage and the impact it will have on America and European countries following the implementation of sanctions on the Russian economy comes after the press secretary of the White House, Jen Psaki, said this week that Americans are unlikely to face a food shortage.
“While we don’t expect food shortages here at home, we do anticipate that rising energy, fertilizer, wheat and corn prices could impact the price of growth and l ‘purchasing critical fuel supplies, food supplies for countries around the world’, PSAki mentioned. “And early World Bank estimates suggest disproportionate impacts on low- and middle-income countries, particularly in Africa, the Middle East and Southeast Asia.”
At the time, Psaki said the administration was working “with our G7 partners, multilateral development banks, the World Food Program and the Food and Agriculture Organization of the United Nations to mitigate” the effects of food shortages on low-income countries.
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A Twitter account operated by the Republican National Committee highlighted the previous dismissal from Biden on potential food shortages in America due to the COVID-19 pandemic.
In May 2020, while taking aim at then-President Donald Trump during a virtual town hall, Biden asserted that America did not have a food shortage problem.
“We don’t have a food shortage problem — we have a leadership problem,” Biden, then a candidate, said.
“We have plenty of food,” Biden added at the time. “It’s being plowed. You’ve – you’re euthanizing cattle and hogs. They’re out there making sure they’re pouring thousands of gallons of milk into the ground. It’s not a food shortage. It’s a lack of leadership – a lack of leadership.”
As war continues to ravage Ukraine, Americans, especially those living paycheck to paycheck, are beginning to feel the pain. financial pressure on their Food prices of conflict on the other side of the world.
It started with a rapid rise in the price of gasoline. Now, with Russian oil banned in the United States and the global energy shortage worsening, experts say shoppers can expect their grocery bills to rise. in the coming months, especially if Ukraine misses its wheat planting season.
“It’s an absolutely horrific time for American consumers because we’re seeing inflation hitting almost 10% every day,” Dan Varroney, supply chain expert and founder of Potomac Core, told FOX Business. “Last month’s figures were close to 8%. And that means consumers, including those living paycheck to paycheck, are going to pay more for food.”
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Russia and Ukraine produce 25% of the world’s wheat supply, according to the Observatory of Economic Complexity. Although none of these countries export wheat directly to the United States, their absence from the world market is expected to put pressure on supply and push up prices.
Fox Business’ Andrew Keiper contributed to this article.
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