How Russia’s war in Ukraine rocked the global economy
Oil and gas prices have surged over supply fears as Russia is one of the world’s biggest producers and exporters of the fossil fuels
PARIS – In a month of conflict in Ukraine, global oil prices have soared, foreign companies have exited Russia and Moscow faces the spectre of default.
Here is a look at the economic fallout from Russia’s February 24 invasion of its neighbour:
– Commodities soar –
Oil and gas prices have surged over supply fears as Russia is one of the world’s biggest producers and exporters of the fossil fuels.
Brent North Sea crude, the international benchmark, stood at around $90 in February. On March 7, it jumped to $139.13, close to a 14-year high and prices remain highly volatile.
Prices have risen at the pump, too, prompting governments to take measures to ease…
