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The economic damage of the war in Ukraine actually concerns the whole world. The conflict is likely to destabilize the world supply of raw materials, especially food.
Ukraine is the former breadbasket of the former USSR. Currently, according to specialists, six million tons of wheat and 19 million tons of corn are waiting to be exported around the world. Because for a week, the exchanges have been stopped and the port cities have been attacked. As a result, this could heavily penalize breeders in Europe. In the Maghreb, some experts even fear a risk of famine. During the last food riots, the price of wheat was at lower levels than today.
Western sanctions do not help matters. Russia supplies one-sixth of the raw materials for the entire planet. It is, for example, the world’s second largest producer of aluminum and the world’s third largest producer of titanium. Metals often essential to the development of a greener industry.
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