Russia invaded Ukraine on 24th February 2022. Since then, the conflict has been snowballing out of control. So much so that it has triggered Europe’s largest refugee crisis since the second world war. The West imposed heavy economic sanctions on Russia intending to cripple the Russian economy. They wanted to make the costs of the Russian invasion of Ukraine so high that it becomes impossible for Mr. Putin to continue the war. But that doesn’t seem happening at the moment. On the contrary, Europe is staring at an energy crisis. The oil prices have skyrocketed. Because of this, Russia is generating more revenue from energy exports than it did before the war began. The western plan to choke oil from Russia seems to have backfired as of now. In this video, we will try to understand the oil politics going on in the region.
1:15 The genesis of the energy crisis
2:37 The Nord stream pipelines
4:26 Dependence on Russia
5:14 Soaring fuel prices and gas rationing
6:21 Winter is coming!
7:05 The pinch of high fuel costs
7:45 Fractures in the alliance
8:50 Alternative gas suppliers
10:28 What about the OPEC nations?
11:00 India might become the refining hub for Europe
11:55 How is Russia earning more revenue than it did before the war?
12:45 Can renewables fulfil the shortfall?
13:24 EU oil diversification strategy
14:10 Europe backslides on dirty fossil fuels
16:04 Russia will try to save its economy
17:51 Can Mr. Putin circumvent the sanctions?
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Originally published at https://www.youtube.com/watch?v=ma-DScQxJW4