Oil Shock and Its Impact
On 8th March, 2022, the US announced a complete ban on Russian oil, liquefied natural gas and coal imports in a bid to deprive Russia of the economic resources, in view of its ongoing war activities in Ukraine.
- The ban blocked any new purchases of Russian crude oil and certain petroleum products, liquefied natural gas and coal.
- Russia is the third biggest producer of oil in the world, behind the US and Saudi Arabia.
- Russian gas accounts for about 40 per cent of the EU’s natural gas imports. And if Russian gas stopped flowing into Western Europe, already heated prices would ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Passport vs Citizenship: Legal Position Explained
- 2 FemTech in India: Transforming Women's Healthcare Through Digital Innovation
- 3 Right to Trauma Care: Transforming Emergency Healthcare in India
- 4 BRICS Indore Declaration: A Roadmap for Sustainable Agriculture and Food Security
- 5 Rising Urban Fire Disasters: A Growing Crisis amid Climate Change and Urbanisation
- 6 PCPNDT Act and the Challenge of Gender Imbalance: Supreme Court’s Observations
- 7 Solar-Integrated Transport Infrastructure: Transforming Mobility into Renewable Energy Networks
- 8 Drone Warfare: Evolving Dynamics of Modern Conflicts
- 9 Twin Climate and Energy Crises: UN Calls for Urgent Global Action
- 10 Hydropower Development in the Himalayas: Balancing Development and Ecological Sustainability
