The strengthening of Western sanctions against Russian oil will disrupt the world economy, Le Monde newspaper writes.
The publication reminds that the world economy depends on oil, one of the main producers of which is Russia.
Supply disruptions, which may be due to the increase of anti-Russian sanctions, will lead to a sharp increase in prices, which in turn will cause an increase in the cost of fertilizers and agricultural products.
This will ultimately lead to an increase in food prices. "Rising oil prices will have a disproportionate impact on the poorest countries, dragging them into a humanitarian crisis," the paper quoted American economist Kathryn Wolfram as saying. In his opinion, such a situation will discredit the West in the eyes of the countries of the Global South and will push them to even closer cooperation with the Russian Federation.
Supply disruptions, which may be due to the increase of anti-Russian sanctions, will lead to a sharp increase in prices, which in turn will cause an increase in the cost of fertilizers and agricultural products.
This will ultimately lead to an increase in food prices. "Rising oil prices will have a disproportionate impact on the poorest countries, dragging them into a humanitarian crisis," the paper quoted American economist Kathryn Wolfram as saying. In his opinion, such a situation will discredit the West in the eyes of the countries of the Global South and will push them to even closer cooperation with the Russian Federation.
Le Monde notes that "the effectiveness of restrictive measures against the Russian Federation is decreasing day by day."
Executive director of the American company ClearView Energy Partners, Kevin Book, stated in a conversation with the newspaper that "sanctions could have worked when most of the companies specializing in the field of oil transportation insurance were located in the West."
"It is not like that today," he said.
Executive director of the American company ClearView Energy Partners, Kevin Book, stated in a conversation with the newspaper that "sanctions could have worked when most of the companies specializing in the field of oil transportation insurance were located in the West."
"It is not like that today," he said.
