With China and India buying the Russian oil shunned by the West in an effort to force an end to the Ukraine invasion, Moscow is earning more now than it did before the war.
SEOUL — When the United States and European Union moved to curtail purchases of Russian fossil fuels this year, they hoped it would help make the Russian invasion of Ukraine so economically painful for Moscow that President Vladimir V. Putin would be forced to abandon it.
Tens of thousands of workers demonstrated against the rising cost of living, with many linking the crisis to the NATO’s war and Russia policies. Many demonstrators condemned the US-led NATO alliance and its involvement in the Ukraine war. Many linked their dire economic straits to the EU’s sanctions regime on Russia and with the NATO’s rush to arm Ukraine.
Protesters demanded that their leaders “spend money on salaries, not on weapons,” and chanted “stop NATO.”
Fossil fuel companies and the banks that finance them “have humanity by the throat”, the UN secretary general has said, in a “blistering” attack on the industry and its backers, who are pulling in record profits amid energy prices sent soaring by the Ukraine war.
Canadians stand to lose over $100 billion in the energy transition as investors around the world continue to pour money into fossil fuel assets that will eventually become worthless, a bombshell international study finds.
With the Trudeau government continuing to tout liquefied natural gas (LNG) exports to help Europe free itself from dependence on Russian supplies, a new report says the continent is poised to boost renewable energy and reduce fossil fuels to just 18% of its electricity production by 2030, with the biggest importers of Russian oil and gas leading the way.
