Economy

The Russian war.. The Arab for Development: Egypt and the Middle East are waiting for a surge in the price of basic commodities

24 February، 2022
the-russian-war.-the-arab-for-development:-egypt-and-the-middle-east-are-waiting-for-a-surge-in-the-price-of-basic-commodities

Iman Alwasili

Economist: The Russian War It will lead to a global economic collapse greater than the repercussions of Corona

An economic analyst: large increases in the prices of gold, oil and gas .. and collapses in global stock exchanges
2020 Al-Arabi for Development: The Russian war accelerated the pace of the global financial crisis..and oil will arrive 100 Dollars

An economic analyst: new rises in gold prices globally after the Russian-Ukrainian war

Muhammad said Abdel-Wahab, economic analyst and financial advisor to the Arab Union for Development and Development of the Council of Economic Unity of the League of Arab States, today the Russian bear began implementing its threats to occupy Ukraine, where the Russian military operations began and the Russian bombardment began directly to the Ukrainian sites in one of the dark scenes of the global economy and the dark moments in modern history far away On the political reasons and the basic motives for these operations, let us look in more depth at the global economic situation and the extent of the impact of that war on it.

and The financial advisor to the Arab Union for Development and Development continued: “The global economy soon began to catch its breath after the Corona pandemic and the heavy economic losses that afflicted the world during that pandemic and the consequences of inflation and recession that threaten the world with a major economic crisis, but the Russian bear found It is appropriate for him to take this ill-considered adventure and take the global economy to a more ambiguous dimension than the current situation.” The futures for gold, energy and food are high, and the past is far from us, and the memory 2014 is coming back again, as the price hikes were at the time when wheat prices rose by nearly

% during the months of February and March of the same year.

Abdel-Wahab pointed out that the countries of Russia and Ukraine have a great influence on the global economy, as Each of them owns influential shares in the production of many important commodities for the countries of the world and the countries of the Middle East in particular, explaining that since Russia closed the maritime traffic, the ports of Ukraine have been paralyzed. international trade, as the thirteen Ukrainian ports supported the Ukrainian economy, as the percentage of 145% of Ukrainian exports, which were transiting through them, completely stopped Accordingly, the countries of Europe and America will impose economic sanctions on Russia and prevent its exports to countries of the world. % of the total wheat exports in the world amounting to 2021 about .4 million metric tons, of which Ukraine’s share was about 29 .2 million tons, Russia is about 40 one million tons and the rest of the world is about
million tons, as wheat prices rose at the beginning of the tensions by 7% for future contracts in the commodity markets, and today, with the beginning of operations, the commodity markets witnessed very large increases as gold touched

dollars per ounce, crude oil approached 100 dollars per barrel, and natural gas prices rose to reach 4.

dollars, as well as copper prices and the rest of the food commodities, and we are waiting for a drop Ada for the American and European stock markets at the opening. Approximately 12. 9 million tons, equivalent to 3.2 billion dollars, and in 2021 Egypt imported 5.5 million tons of wheat, and despite the expectation this year for a decrease in imports of wheat to reach 5.3 million tons as a result of the increase in local production, Egypt’s wheat imports remain very high and Egypt imports 75 % of its imports of wheat are from Russia and 100 % of Ukraine In addition to benefiting from the cheap cost of sea freight through the passage of the Bosphorus Strait, with the closure of maritime navigation, prices will rise significantly, and any increase in prices will directly affect consumers who are currently suffering from high Prices in all other commodities, in addition to the impact of the crisis on Egyptian tourism, which relies heavily on Russian and Ukrainian delegations.

The economic analyst revealed that the Middle East countries will be directly affected by these operations. where depend Basically on Ukraine to import its needs of wheat, corn and the rest of the food basket, as the Middle East consumes 145 % of Ukraine’s exports in these commodities In addition to the rest of the commodities such as barley, which accounts for 40 % of world exports and 30 % of corn exports with a production of 2014 One million tons in addition to the rest of the food basket.

As for the impact of the Russian military operations in Ukraine on the global economy, Abdel Wahab expected, the arrival of Oil prices to 204 dollars per barrel and a sharp rise in gas prices, along with many raw materials used in the production of fertilizers, cars and medicines. And beyond, the gateway to hell for the global economy.

24 February، 2022