In the first quarter of 2022, France’s economy did not perform well - and registered 0.0% growth - which was lower than the 0.3% mark expected by economists.
Image Credit: Ulrich Dregler
France 2 TV has reported that French cities have started to distribute food vouchers in order for families to cope with a worsening cost-of-living crisis fueled by the war in Ukraine and the coronavirus pandemic; which have broken down supply chains all over the world.
The mayor of the commune of Saint-Arcons-de-Barges, Lionel Buchet told France 2 that: “food has jumped terribly in recent weeks, in recent months”, and warned that “this is just the start.”
Pensioner Bernadette Chacornac has said that: “Everything has increased in price, everything, even pasta”, and “I have my partner, I have my son, so for all three of us together that’s quite a sum.”
Vladimir Putin’s aide Maksim Oreshkin predicts that a “global famine” will occur before the end of the year.
“It is important that in the conditions, for example, of a global famine that will occur closer to autumn, by the end of this year all over the world, Russia should not suffer, but be fully provided with food.”
Oreshkin said that one of the main causes for inflation was the Federal Reserve’s decision to overprint the dollar back in 2020; he has also claimed that actions taken on Ukraine by the Biden administration have had a significant impact.
Both Ukraine and Russia supply roughly 30% of the world’s wheat; therefore, sanctions caused a near 60% percent increase in the price of wheat. The aide’s claims are also backed up by the head of the Bank of England; who has also said that: the cost of living crisis in the U.K. - which is due to enter a recession by the end of the year - is being exacerbated by the ongoing war in Ukraine.
Maksim Oreshkin claims that a humanitarian catastrophe will be triggered by the U.S.’s efforts to take control of Ukraine’s grain reserves.
According to Oreshkin: “In fact, what America is trying to do with Ukraine now is to take out the grain reserves that Ukraine currently has in its possession – just another action that dooms Ukraine to serious humanitarian problems, but also dooms the global community to having big problems with hunger.”
Insee predicts that inflation will continue to increase in the following months, adding that further rises will “remain dependent on geopolitical developments around Russia” – referring to the war in Ukraine and the effects it has on Western and Russian relations.
Russia’s President Vladimir Putin has said that the E.U.’s actions to cut back on purchasing energy were introduced for “absolutely political reasons” and under the influence of Brussels’ American “overlords.”
Putin said: “Obviously, together with Russian energy resources, economic activity will also be leaving Europe for other regions of the world. Such an economic auto-da-fe, or suicide, is of course the internal affair of European countries. We must proceed pragmatically and primarily from our own economic interests.”
In 2021, 17% of France’s gas and 9% of its oil were supplied by Russia, but after Russia’s military operation in Ukraine, France then followed other Western Nations in applying sanctions on Russia and has vowed to find alternative sources to Russian supplies. French energy company Engie has already requested clear and concise guidelines on payment terms following Russia’s demands for ruble payments for Russian gas supplies.