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Food security, Moldova in focus at G7 foreign minister meeting

By Alexander Ratz and John Irish WEISSENHAUS, Germany (Reuters) - Foreign ministers from the G7 group of rich nations will discuss how to alleviate food security concerns when...
Food security, Moldova in focus at G7 foreign minister meeting © Reuters. G7 countries foreign ministers walk for dinner during their summit in Weissenhaeuser Strand, Germany May 12, 2022. Foreign ministers pictured: Elizabeth Truss of Britain, Jean-Yves Le Drian of France, Melanie Joly of Canada, Annalena Baerbock of Germany,

By Alexander Ratz and John Irish

WEISSENHAUS, Germany (Reuters) - Foreign ministers from the G7 group of rich nations will discuss how to alleviate food security concerns when they meet in Germany on Friday as fears mount that the war between Russia and Ukraine could further destabilise Moldova.

The annual meeting running until Saturday brings together top diplomats from Britain, Canada, Germany, Italy, France, Japan the United States and the European Union, to the Baltic Sea resort of Weissenhaus.

Talks are set to be dominated by Ukraine and how to manage the consequences of a conflict that could drag on for months, if not longer.

The Ukrainian and Moldovan foreign ministers are also attending on Friday with the West's most industralised nations set to reaffirm their support for the two countries.

The war in Ukraine has sent global prices for grains, cooking oils, fuel and fertilizer soaring, with United Nations agencies warning that the price hikes will worsen a food crisis in Africa in particular.

The Russian invasion of Ukraine since February has disrupted shipping in the Black Sea, a major route for grains and other commodities, throttling exports from Ukraine and Russia.

"There are 25 million tonnes of grain currently blocked in the Ukrainian port of Odesa, which means food for millions of people in the world that is urgently needed, above all in African countries and in the Middle East," German Foreign Minister Annalena Baerbock told reporters.

"That's why we're sending a clear signal today: we see you, we hear you and we support you," she said.

Diplomatic sources said the aim was for the seven countries to organise themselves better to find quick and efficient answers to the food crisis.

While U.S. Secretary of State Antony Blinken will not make it due to catching COVID-19, the remaining ministers will aim to reassure Ukraine's neighbour Moldova.

It is struggling to cope with the refugee flow from its neighbour, but incidents involving pro-Russian separatists in recent weeks in the Transdniestria breakaway region have raised international alarm that Russia's war in Ukraine could spread over the frontier.

"The country has been weakened because of the war ... so we need to confirm our support for Moldova," a French diplomatic source told reporters.

Indonesian Foreign Minister Retno Marsudi, whose country currently holds the presidency of the Group of 20 Industrialised and Emerging Economies (G20), which also includes Russia, is will also join the meeting on Friday to discuss food security.

A French official said the question of Russia's presence at the heads of state meeting in November would be brought up.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

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USD/JPY

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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