Since the last meeting of the General Council of the WTO in late February, the Ukraine conflict has taken centre stage in international affairs. Spillovers of the political tensions have adversely affected progress on trade negotiations inside the WTO. The conflict has also brought renewed attention to the risks of a global food security crisis, as production and trade of foodgrain and fertilisers have been impaired by the crisis in Ukraine. The Twelfth WTO Ministerial Conference (MC12) is scheduled to take place from 12-15 June at the WTO headquarters in Geneva. There will be frenetic activity inside the WTO to close some negotiations and offer some deliverables – particularly on fisheries subsidies, agriculture and pandemic response. This edition of ONW captures news and developments at the WTO and perspectives on trade-related issues.