According to Reuters, Russian President Vladimir Putin stated that Western sanctions will cause a worldwide food catastrophe.

Putin stated that increasing energy prices and fertiliser shortages will force Western nations to create more money in order to purchase goods, resulting in food shortages in poorer countries.

“They would undoubtedly increase food shortages in the world’s poorest places, spark fresh waves of migration, and, in general, drive food prices even higher,” Putin stated during a discussion on food production development, according to Reuters.

Putin also stated that Russia will not ship food to “hostile” countries.

“We will have to be more vigilant about food supplies overseas, especially closely monitoring shipments to unfriendly nations,” Putin said, according to Reuters.

Dmitry Medvedev, a former Russian president and top security official, also stated last week that Russia “would not sell our products and agricultural products to our adversaries.”

Medvedev stated in a post on his Telegram channel that the measure would be in revenge for sanctions, and that food was a “silent weapon.”

“We will supply food and crops only to our friends,” he said.

Russia and Ukraine are both important wheat and grain exporters. According to an ING research, Russia contributes for over 17 percent of world wheat production, making it the crop’s top exporter. Ukraine contributes for 12% of wheat supplies and 17% of corn supplies.

Previously, a Globe Bank spokeswoman told Insider’s Urooba Jamal that “the war in Ukraine comes at a poor moment for the world.”

“Poor and vulnerable people all across the world were already suffering from high inflation and rising food prices, which were worsened by greater energy costs and trade restrictions,” added the spokeswoman. “Shortages of key items, as well as broad-based price hikes, might exacerbate inflationary pressures and food insecurity.”