Global macro in 2022/2023 | Enterprise standard column

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We are on new ground, with four problems that come together

Topics
Ukraine | Russia | LNG


Before invading Ukraine, Russia was the world’s largest oil exporter, exporting around 8 million barrels a day. In addition, about a third of Europe’s gas supply came from Russia. European leaders regret mistakes made in energy policy in the past, where pipelines were built to Russian oil fields. While Russia is sometimes considered a superpower, its gross domestic product (GDP) is the size of Spain, with strengths in two areas: natural resources and food. Energy export cash flow is essential to the Russian economy and funds the war in Ukraine.


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First published: Sunday, June 12, 2022. 10:49 p.m. IST

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