2022
DOI: 10.32479/ijeep.13493
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The Economic Impact of Russia’s Ukraine Conflict on the EU Fuel Markets

Abstract: The recent Russian invasion of Ukraine has had significant effects on the global economy. The purpose of study is to display how Russia's aggression and the international sanctions imposed have affected the European economy, especially the petrol and gas market. Albeit the goal of sanctions was to press and hurt Russia, seems to harm in equal to the European economies mainly through immediate effects on the supply of energy. If the war in Ukraine lasts, estimated that the energy prices will stay high, and the … Show more

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Cited by 19 publications
(6 citation statements)
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“…European importers' surge in demand for spot LNG cargos impacted the global LNG market, including developing economies. The latest studies in the literature reported the economic impact of the Russian-Ukraine crisis on the energy markets of the US, UK, Canada, and Europe [ [77] , [78] , [79] , [80] , [81] , [82] , [83] ]. Covering different shocks between January 2015 and March 2022, Uribe et al [ 84 ] investigated the transmission of natural gas shocks to electricity prices in 21 European markets.…”
Section: Literature Reviewmentioning
confidence: 99%
“…European importers' surge in demand for spot LNG cargos impacted the global LNG market, including developing economies. The latest studies in the literature reported the economic impact of the Russian-Ukraine crisis on the energy markets of the US, UK, Canada, and Europe [ [77] , [78] , [79] , [80] , [81] , [82] , [83] ]. Covering different shocks between January 2015 and March 2022, Uribe et al [ 84 ] investigated the transmission of natural gas shocks to electricity prices in 21 European markets.…”
Section: Literature Reviewmentioning
confidence: 99%
“…The utilization of bioenergy presents a potential solution for mitigating reliance on fossil fuels (Raihan, 2023i;2023j). However, apprehensions arise regarding the allocation of important arable land for cultivating energy crops instead of food crops (Kalogiannidis et al, 2023). At present, a significant proportion of the corn yield in the United States, specifically 40%, is allocated towards the production of ethanol.…”
Section: Agroforestry Benefitsmentioning
confidence: 99%
“…Chen et al (2023) employed the GTAP model to assess energy sanctions' effects, revealing negative macroeconomic consequences for both the EU and Russia, including increased inflation rates [17]. Kalogiannidis et al (2022) investigated the economic impact on EU fuel markets, projecting severe disruptions, price spikes, and implications for European economies [18].…”
Section: Energy Diversificationmentioning
confidence: 99%