© Andrey Rudakov/Bloomberg
A combine harvester drives through a wheat field near Stavropol, Russia.
The Group of Seven (G7) has promised to address global food security, announcing on Tuesday they its members don't intend to apply sanctions on Russian food and agricultural products.

The G7 is a political forum consisting of leading Western economies, comprising Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.

"We will continue to ensure that our sanctions packages are not targeting food and allow for the free flow of agricultural products, including from Russia, and the delivery of humanitarian assistance," the joint statement read.

According to the G7, citing UN estimates, this year up to 323 million people globally will fall into acute food insecurity or are at high risk, which would mark a new record high. The group has pledged to lift 500 million people out of hunger and malnutrition by 2030.

It has also denied that anti-Russian sanctions are contributing to the global food crisis. Western states have accused Russia of exacerbating food insecurity as a result of the conflict in Ukraine. Moscow has rejected the claims, however, insisting that the real cause of the global food crisis is "politically motivated" Western sanctions.