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 Drought: Escalating Risks to Communities, Ecosystems, and Economies
- 2 India-Croatia: Deepening Partnership
- 3 Bonn Summit Sets Tense Stage for COP30
- 4 Climate Induced Migration: A Multidimensional Challenge Requiring Global Action
- 5 India-Cyprus Five-Year Strategic Roadmap
- 6 Urban Drainage Crisis in India
- 7 Unwrapping India’s Food Safety Challenges
- 8 Reforming Agricultural Subsidies in India: Towards Efficiency, Equity, and Sustainability
- 9 India’s Data Imperative: The Pivot Towards Quality
- 10 Semiconductors: Powering India’s Digital Ecosystem
