World price rise in the wake of Russia-Ukraine war
- Aataapakarana Atapata: Dhawal Mehta World economy in disarray: Russia's invasion of Ukraine has damaged the world economy. While the world has barely emerged from the Covid epidemic, it is in a state of war created by Russia. The economics and politics of the world are in a state of turmoil at the time of writing. In the second week of March, crude oil prices soared to ૩૯ 12 a barrel during the war. In December 2021, the price of crude oil, which was three months ago, almost doubled in just three months. Of course, now it has come down to about ડો 100. Rising crude oil prices will hurt many countries, such as India, which do not rely on fuel oil imports. The world's economy was plunged into an 'oil crisis' when OPEC (oil producing country) countries suddenly doubled and tripled fuel oil prices. The crisis gave birth to the market economy of Margaret Thatcher in Britain and Ronald Reagan in the United States. Now this ideology of market fundamentalism has given birth