UN secretary-general urges governments to tax ‘immoral’ oil and gas profits

United Nations Secretary General Antonio Guterres speaks during the 2022 Review Conference of the Parties to the Treaty on the Non-Proliferation of Nuclear Weapons at the United Nations in New York City on August 1, 2022.

The Secretary-General of the United Nations urged governments to tax excessive oil and gas profits as the world grapples with an energy crisis.

It is immoral for oil and gas companies to make record profits from the energy crisis on the backs of the poor, according to UN Secretary General Antonio Guterres.

He said that the funds should be used to help vulnerable communities.

The UN Secretary General called for governments to also address the mounting climate crisis.

He urged governments to increase their supply chains for raw materials and renewable energy technologies.

The energy crisis is not exclusive to one country.

The consequences of the Kremlin's war have extended beyond a budding energy crisis and have also worsened global food insecurity and crippled debt around the world.

Without access to finance, many developing countries could go over the edge. He said that there were warning signs of a wave of economic, social and political upheaval.

The triple crisis of food, energy and finance will be coordinated by the Global Crisis Response Group.

A significant step in addressing the mounting food crisis provoked by Russia's naval blockade of Ukrainian ports sprinkled along the Sea of Azov and the Black Sea was taken as the first vessel carrying Ukrainian agricultural goods departed from the Black Sea.

In July, representatives from the U.N., Turkey, Russia andUkraine signed an agreement to reopen three Ukrainian ports.

Russian missiles rained down on Odesa less than a day after the deal was signed. The missile strike on Odesa was condemned by world leaders quickly.

The vessel is expected to arrive in Lebanon in two days, according to the infrastructure minister of the Ukranian republic.

16 ships are ready to leave, but only three will leave the port each day for the next two weeks, according to the man. Up to 3 million tons of grain and other agricultural goods are expected to be exported by sea by the end of the year.

Ukranian exported up to 7 million tons per month before Russia invaded.

The U.N. secretary-general's announcement that the Global Crisis Response Group will coordinate global solutions to the triple crisis of food, energy and finance was incorrect. The group's status was misstated.