This article is the English version of Marc-Antoine Eyl-Mazzega,
« Les conséquences de la guerre d’Ukraine pour le secteur de l’énergie », published in Politique étrangère, Vol. 87, Issue 2, 2022.
Russia’s invasion of Ukraine has brought large-scale interstate warfare back to Europe, plunging the Old World into a series of mutually exacerbating crises. The war has a global impact because Russia is the world’s largest exporter of gas (mostly through pipelines) and liquid hydrocarbons (crude oil and refined products), as well as one of the world’s largest exporters of coal, uranium, metals and ores, and of agricultural raw materials and fertilizers. Russia was also on the verge of becoming the world’s fourth largest exporter of liquefied natural gas (LNG), just behind the US, Qatar, and Australia. The conflict’s impact can be seen in the slowdown in global economic growth, an increase in regional instability and specific flash points, inflation raging in most economies, and unprecedented tensions in agricultural and hydrocarbon markets.
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