Global energy markets already have a defense front, after the United States and the EU in Brussels reiterated that commitment.

In said meeting, representatives of both parties promised to face any attempt to destabilize the market, particularly in the midst of the problems that have unleashed the war between Russia and Ukraine.

In relation to this situation, both parties promised to deal directly, with appropriate measures.

The position of the two blocks is in line with what was stated in the 2022 World Energy Outlook: “The world is immersed in its first global energy crisis, a shock of unprecedented breadth and complexity. Even before the Russian invasion of Ukraine, there were pressures in the markets, but Russia’s actions have turned the rapid economic recovery from the pandemic into a true energy convulsion.”

The cuts in the supply of natural gas by Russia, in response to the sanctions applied since the start of the conflict, have aggravated the situation. Hence, the decision of the US and the European Union regarding the protection of energy markets.

M.Pino

Source: es.investing

(Reference image source: Unsplash, in collaboration with Getty Images)

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