حفلة 2024

Sawiris urges Egypt government to stock more wheat as Russia-Ukraine crisis deepens

Business tycoon Naguib Sawiris urged authorities in Egypt to buy and stock more quantities of wheat as Europe’s eastern flank is on the brink of war after Russia ordered troops into breakaway regions of eastern Ukraine.

On Monday, Russian President Vladimir Putin signed two decrees recognising Donetsk People’s Republic and the Lugansk People’s Republic in eastern Ukraine as independent and ordered the deployment of troops to the two breakaway regions. The moves have accelerated a crisis the West fears could unleash a major war.

In its first reaction to the Russian move, Ukraine called for an urgent meeting of the Security Council on Russia’s “illegal actions,” Ukrainian Foreign Minister Dmytro Kuleba tweeted.

“Advice to the Minister of Supply… We must hurry to buy and stock wheat before the outbreak of Ukraine and Russia war! Sawiris said in a tweet on Tuesday.

“They (the two countries) produce 30 percent of the world’s wheat production, and if a war breaks out, all this will not be available and the prices will skyrocket,” he added.

Egypt, Lebanon, and Libya are among the Arab countries that rely most on wheat from Russia and Ukraine, while the North African country ranks first as the world’s biggest wheat importer.

Russia tops wheat exports to Egypt, while Ukraine ranks second.

 

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