The energy pressures created by Russia’s invasion of Ukraine are continuing to shape a new global energy future. An EU embargo on Russian coal imports going into effect today is just a part of the bigger picture.
Energy bills are soaring in places like the UK, where analysts are predicting that poverty could be an issue as early as January as Britons try to keep up with rising energy costs. But there is hope.
“If Russia’s energy war has reignited old animosity with Europe, new relationships are reinvigorating relations between formerly cool partners and old enemies,” says Cipher Brief Expert and Energy Expert Norm Roule.
“Europe has undertaken a flurry of diplomatic engagement with non-traditional partners in Africa, the Middle East, and Central Asia.”
What about elsewhere? How has the energy crisis spurred by Russia’s invasion impacted energy markets around the world and how are new geopolitical dynamics affecting the future of energy?
As China considers new pipelines with Russia and African countries look for new energy connections, The Cipher Brief spoke with Roule, who travels frequently to the Middle East, to talk about what indicators we need to be looking for to better understand how bad things might get before they get better.
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