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Tackling the global shock waves of the Ukraine crisis

24/05/2022, Rome

The war in Ukraine and its global shock waves led to an unprecedented situation: The conflict has driven millions of Ukrainian refugees to neighbouring countries. Food prices have increased and wheat futures are at record highs, as Russia and Ukraine are key players in global food production. The war and sanctions regime will further disrupt supply chains. The World Food Program projects that up to 500 million people will face hunger over the course of the year. Deepening food insecurity is likely to have wider political implications – one needs to only remember that high wheat prices in 2009 and 2010 were among the triggers of the Arab uprisings. The current crisis is complex and generates impacts far beyond Ukraine: It will touch refugees in many other parts of the world given the additional strain placed on capacities needed to respond to displacement. And its effects will exacerbate those of the climate crisis and the fallout from COVID-19. The far-reaching implications of the Ukraine crisis underline the need for multilateral approaches that can address compound challenges swiftly crossing borders in a hyper-connected world. Against this backdrop, the high-level panel discussion, organized within the framework of the project Nexus25 - Shaping Multilateralism, will focus on the global effects of the Ukraine crisis intertwining displacement, food security, and climate risks.

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