Ukraine grain crisis could cost $60 billion globally, minister warns

The blockade of Ukraine's Black Sea export routes is becoming "critical", with potentially far-reaching implications for global food prices, Ukraine's Minister for Agrarian Policy and Food, Taras Vysotskyi, has told Europe Today. "We can already see that on average, grain prices have increased by 25 percent," Minister Vysotskyi said. "If you multiply it by the overall grain and food consumption out of grain, within a year, it could mean up to $60 billion in additional costs (for) consumers throughout the world." Russia has recently intensified strikes on Ukrainian Black Sea vessels and infrastructure, on which Kyiv relies for the export of around 90% of its agricultural commodities. Attacks on storage facilities within Ukraine have also intensified. Vysotskyi told Euronews that Kyiv is making "some progress" in ensuring Ukrainian harvests reach the market, including through so-called "solidarity lanes" established by the EU to provide alternative transport corridors. Asked about the prospect of a negotiated deal brokered with Russia through Ukraine's international partners, Minister Vysotskyi said: "We are ready to create the safety conditions in the Black Sea for all of the civil goods, including Ukrainian agricultural commodities. We are open to it." While acknowledging ongoing negotiations with partners, Vysotskyi explained that Ukraine can "never trust" Russia's commitment to a potential moratorium. "The reality is that we can never trust what's going to happen tomorrow, or after any kind of memorandum or deal is done," the minister said. Watch the full interview in the video player above.