Over the past two decades, the Ukraine issue has always been the focus of mutual cooperation and struggle between Russia and the EU, and this Ukraine crisis is a "new fermentation" of this "old issue". Ukraine crisis creates uproar in world energy markets due to Ukraine's key geopolitical location and natural gas transportation hub status
Energy Prices Surge Amid Ukraine Crisis
Russia is one of the largest oil and gas suppliers in the world, and Europe relies on Russia for around 40% of its natural gas supplies. Energy prices increased by 13% after Russian President Vladimir Putin declared a "Special Military Operation" in Ukraine. The crisis in Ukraine has also been felt in households across the U.S. as oil prices surge above $100 a barrel for the first time since 2014.
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