How Russia’s war is throwing energy markets into chaos

The world in the energy crisis

Large industrial nations are dependent on Russian oil and gas supplies.

(Photo: Smetek)

  • The war in Russia and the associated sanctions are making energy scarce and expensive. No country was as dependent on Russia as Germany. What are the consequences for politics, consumers and the economy?
  • Because Russia is no longer supposed to deliver, other countries with energy resources are now coming into focus: The Arabian Peninsula, Venezuela and Co. What can they do and how are the balance of power shifting.
  • Harvard economist Kenneth Rogoff says no matter when this war ends, a “severe slowdown in growth” is certain. “We are experiencing a turning point in the global economy – the stagflationary impulse has long been there.”

There are three scenes from this week that show the hopelessness of the Ukraine war these days. There is the Turkish Antalya on Thursday. Negotiation tables are arranged in a horseshoe shape around a place setting of flowers.

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