Egypt reviews plans to cope with Ukraine crisis’ impact

This comes as Ukraine anticipates a possible Russian invasion, with reports that Russia has already moved almost 100 percent of the troops needed to fully invade the neighbouring country.

Egyptian Prime Minister Mostafa Madbouly said in a Cabinet meeting on Wednesday that the Egyptian government has been studying the possible effects of the Russia-Ukraine crisis on the prices of commodities, especially wheat.

Such crises significantly impact the prices of a number of basic commodities worldwide, Madbouly said, affirming that Egypt is closely following up on the economic and political repercussions of the crisis.

The Cabinet meeting was attended by Minister of Petroleum Tarek El-Molla, Minister of Tourism and Antiquities Khaled El-Enany, Minister of Supply and Internal Trade Ali El-Moselhy, Minister of Finance Mohamed Maait, Minister of Trade Nevine Gamea, and Ambassador Ihab Nasr, the assistant foreign minister for European affairs.