News

Boozman discusses impacts of Russian attack to ag

Senate Ag Committee Ranking Member John Boozman tells Brownfield the U.S. needs to work with allies to punish Russia for its attack on Ukraine and agriculture is likely to take some hits.

He expects possible sanctions on Russian oil to have a ripple effect across the globe.

“This could very well make oil prices remain at a very high rate which affects fertilizers, it affects the input costs of the farmer so much throughout the world, and that could also lead to higher food costs,” he says.

Boozman tells Brownfield Russia needs to see that the U.S. is united with its allies and the Arkansas Republican fears how China will use this as an opportunity.

“If they feel like we respond in a weak way, then I feel there’s a fair chance they’ll move against Taiwan,” he speculates.

Boozman believes Japan or South Korea could even go nuclear if the situation escalates to that point.

Thursday, the White House announced it was working with other G7 nations to place economic sanctions on Russia’s leading financial institutions, including the state-held agricultural lender and a major energy company.