Global Energy Crisis and the Developing World

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The Covid-19 global pandemic has affected the poorer nations in the world severely. It was expected that the year 2022 would be the year of recovery. But the Russia-Ukraine war has affected once again the poorer nations badly. The war has resulted in global energy crisis which has resulted the cost-of-living crisis in the world in general, and in the developing world, in particular. Notably, Russia is the leading exporter of natural gas and the second largest exporter of oil. However, as Western sanctions have hindered trade with Russia, the developing countries are badly hit by the global energy crisis.

On 3 August 2022 the UN issued… [Read full article from here]