Big tweak to Russia from US
Moscow bans oil and gas imports
The biggest crisis was also against Europe
US President Joe Biden on Tuesday announced his intention to further weaken the economy in response to Russia’s attack on Ukraine. It has announced a ban on all imports of Russian gas, oil and energy. He claimed that the move would hurt the Russian economy. However, he acknowledged that this would increase the cost to Americans, especially at gas pumps. The question that arises after Biden’s announcement is, what will be the effect of this decision on the whole world? Then we will see how this decision of America can affect the whole world ….
Crude oil prices could rise sharply
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A US embargo on Russian oil imports could lead to a sharp rise in crude oil prices. Because if the world is supplied with 10 barrels of oil per day then one barrel of it comes from Russia. Russia’s deputy prime minister has threatened to cut crude oil prices by more than 300 a barrel.
Inflation will rise in India
This decision of America will also increase the challenge of India. India will have to pay a higher price for importing crude oil. The direct effect will be that inflation will now rise, interest rates will rise and the rupee will weaken against the dollar. The government’s fiscal deficit will increase and capital expenditure from public welfare schemes will be reduced.
ગુજરાતીમાં વાંચવા માટે અહી ક્લિક કરો
The biggest crisis facing Europe
The biggest question is America’s allies, the European countries. It is unknown at this time what he will do after leaving the post. European countries are increasingly dependent on Russian energy supplies. Russia’s natural gas accounts for one-third of Europe’s fossil fuel consumption. At the same time, the US does not import Russian natural gas. At present, it is safe to say that the United States may be left alone.
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