WTO: russia-Ukrain war will affect global trade stability

The Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala says the Russia-Ukraine war is threatening global stability.
Okonjo-Iweala in a statement on Wednesday, expressed sadness about the war, which according to her would have been averted.
She said: “With the battle raging on and talks between Ukraine and Russia yet to yield results, the WTO is concerned about the implications.
“We are also concerned about the trade implications of the conflict, especially trade in agriculture and food products and the rise in energy prices and their effects on the impacted population,”.
Dr Okonjo-Iweala warned that the war in Ukraine, a major wheat exporter, would hurt consumers of bread and other dirivables from wheat around the world.
Also speaking at a virtual meeting with the International Monetary Fund (IMF) Chief, Kristalina Georgieva, Okonjo-Iweala said the war will have a “big impact on Wheat prices and prices of bread for ordinary people as well”, adding that the WTO is praying for “a peaceful and quick resolution to the crisis as soon as possible.”