Oil Diplomacy in the International Economy: Impact of Russia–Ukraine Conflict
Journal: The International Journal of Humanities & Social Studies
Year: 2023

Russia's invasion of Ukraine has demonstrated how vulnerable energy markets are. Russia's invasion has made a tenacious situation much worse for energy markets, particularly in Europe. For now, the biggest question facing world leaders is how to sever their energy dependence on Russia. The United States and the United Kingdom were the first major countries to ban Russian oil, but neither depended heavily on these imports. Moreover, the impact of such actions is minimal because Russia can simply