Reaction..

 

Russia is one of the largest oil exporters on the planet. In December it sent nearly 8 million barrels of oil and other petroleum products to global markets, 5 million of them as crude oil.

Very little of that went to the United States. In 2021 Europe got 60% of the oil and 20% went to China. But oil is priced on global commodity markets, so the loss of Russian oil affects prices around the globe no matter where it is used.

The concerns about disrupting global markets led Western nations to initially exempt Russian oil and natural gas from the sanctions they put in place to protest the invasion.

But in March the United States announced a formal ban on all Russian energy imports. The UK government, too, said it will phase out Russian oil imports by the end of 2022 and also explore ways to end natural gas imports. And Germany announced earlier this month it will support an EU ban on Russian oil. Russia's oil is slowly and steadily being removed from global markets.

So it is not the War that caused much trouble to the rest of the world, it is the Sanctions US imposed or our misguided and deliberate reactions to extend the war.  Just a thought.