Worldcrunch
Faced with the threat of global economic chaos brought on by Trump’s tariffs, and accelerated by the war in Ukraine, the Russian economy should be in shambles. However, as noted by Russian economist Władysław Inoziemcew, the situation is far more complicated than it may seem.
Since the end of the 20th century, the idea has spread that there’s a fundamental link between energy prices and Moscow’s ability to carry out military aggression. After all, low energy prices were one of the factors behind the economic collapse of the USSR.
The destabilization of the Middle East could send prices soaring once more and trigger a new shock for the world economy, which has so far been resilient despite the COVID-19 pandemic and the war in Ukraine.
Despite what the Kremlin claims, Western sanctions against Russia are working. Perhaps most important is the embargo on electronic component exports, which prevents the Russian army from rebuilding tanks and missiles severely depleted in the war.
The price of cooking oils and fats has gone up dramatically. Indonesia has even banned exports of palm oil. Suddenly, what type of oil and how we use it to fry foods, dress salads and process products has become an ever more important question.
Ukrainian President Volodymyr Zelensky seems ready to accept death on the battlefield — but he would be doing his people an even greater service if he fled Ukraine to establish a government-in-exile.
SPANISH ELECTION ENDS TWO-PARTY SYSTEM Yesterday’s national elections in Spain have left more questions than answers today, as two of the country’s fledgling political movements made huge gains and the conservative Popular Party lost its majority. “Spain knocks down two-party system and leaves the government high and dry,” the front page of conservative newspaper El […]
BERLIN — As the price of oil continues to fall, share prices on the Gulf region’s stock markets have plummeted in parallel. The price of oil reached a yearly low of $60 a barrel on Friday, and we’re now looking at a possible $50, which would create a truly bleak outlook for economic prospects in […]
Falling crude prices spell trouble for oil-dependent economies like Venezuela and Russia, with political consequences to follow. Meanwhile, the world’s two biggest economies may fare well.