Russia’s invasion of Ukraine is already impacting U.S. agriculture. Senator Jerry Moran, a Kansas Republican is quick to condemn the action.
“Let me begin my comments by condemning Vladimir Putin, condemning Russia. There is no justification, there is nothing noble or smart about this effort, one country invading another. When the Soviet Union broke up Russia agreed in writing to the independence of Ukraine, and it is one country invading another. With the exception of Saddam Hussein, we’ve certainly not seen that in Europe since World War Two. This has significant consequences upon the United States, and it’s not something that is removed from us and our future.”
Americans watched skyrocketing oil prices, volatile commodity markets and a tumbling stock market Thursday morning. Moran says one of the biggest issues for the U.S. is in the energy sector.
“One of the things that I would criticize the Biden administration, and I’m not using this moment, I think our country needs to come together. But I want to, again continue to push the Biden administration to change their policies in regard to energy. We need an all of the above program, we need to be energy independent. In fact, Russia is able to finance this aggression because they sell oil and natural gas to the rest of the world. In the next 24 hours, it’s expected that United States, the European Union and the United Kingdom will spend $330 million buying 3.5 billion barrels of oil from Russia.”
And farmers, already feeling the pinch of higher input prices, will face more headwinds.
“Diesel fuel, fertilizer, all will be impacted. Despite some higher commodity prices, the input costs have been skyrocketing already because of supply chain and transportation. So, this administration, this Congress ought to come together and increase the energy production in the United States and help our allies in Europe meet their energy needs, but do something significant to take the price back down, damaging the Russian economy.”
Moran adds there is an opportunity to fill the gap of wheat supplies to the globe shut off by the closing of Ukraine ports, however, U.S. wheat growing conditions are dry and not ideal, currently.