12 C
Auckland
Saturday, May 21, 2022
-- Free Advertisement --spot_img
HomeNewsEmpty shelves, price hikes, car shortages: Sanctioning Russia proves costly for the...

Empty shelves, price hikes, car shortages: Sanctioning Russia proves costly for the West

Most Popular

Rising costs lead to hoarding and protests in parts of Europe.

The unprecedented sanctions against Russia have pushed energy costs higher in Europe and the US, driving record inflation and making it ever more expensive for farmers and truckers to fuel their machinery, afford fertilizer or keep up with other costs. In Europe, which is dependent on Russian oil and natural gas, the sanctions have worsened an energy supply crunch that has driven up costs for households and businesses. RT looks at what life without Russia is like for the West these days.

Russian sanction news

High energy costs trigger unrest

People have been protesting across the EU as the cost of diesel and gasoline has become prohibitively expensive. Thousands of truckers began an indefinite strike in Spain last Monday, leading to traffic jams and picketing across the country. A few truck companies in Spain stopped operating due to high costs resulting in job losses for some. In Italy, a liter of gasoline and diesel now cost more than two euros due to sanctions. France has also been hit with protests against soaring fuel prices. Hundreds of protesting farmers blocked traffic in central Athens to demand the government grant them additional concessions to cope with higher energy costs. In the US, consumers now have to pay at least twice as much for gasoline after Washington announced an embargo on energy imports from Russia.

Empty shelves at grocery stores

The trucker strikes have caused supply problems that are impacting the food industries of entire countries. Images of empty shelves at grocery stores are becoming more common in Europe as supplies of basic foodstuffs and products have been affected.
Governments warn against panic buying

Some retailers had to limit the sales of certain products to prevent customers from buying more than “normal household quantities.” Governments insist the supply shortages are a “hoax” and call on people not to panic buy. Experts say that uncertainty in the market is likely to continue, and that the situation could even worsen in the coming weeks.

Skyrocketing food prices

Global food prices, which have already been surging due to the coronavirus pandemic, skyrocketed further amid the crisis in Ukraine. Russia and Ukraine are critical global suppliers of wheat, as well as sunflower, rapeseed, flaxseed, and soy used for cooking oils and in animal feed. Russia and Belarus, which also faces Western sanctions over the crisis in Ukraine, are key global suppliers of fertilizers. The resulting surge in fertilizer prices means farmers worldwide are facing higher costs to grow crops. In Italy, prices for pasta, flour and vegetables have risen sharply, with sunflower oil prices surging the most, by 19%. Data from the national agriculture trade organization, Coldiretti, shows that the cost of bread has almost doubled since November, to its current €8 per kilo. Some German supermarket shelves have been stripped bare of cooking oil and flour, as they were back in March 2020 when the Covid pandemic started. Most recently, the cost of cooking oil has risen significantly, with a cheaper bottle now costing almost €2, up from less than €1 just a few months ago.

Global auto market in trouble

The Ukraine crisis has added to the pains suffered by automakers, who had been grappling with high prices due to Covid-related disruptions, including semiconductor shortages. This week major car manufacturers announced they will shut down plants in Europe and raise prices further as supply issues mount. In the United States, prices of used vehicles are currently far above historical norms amid a shortage of new cars and trucks. Russia and Ukraine are significant suppliers of critical commodities to the auto industry like neon gas, aluminum, platinum and palladium, and of components like harnesses. Auto market data provider S&P Global Mobility said last week that the Russia-Ukraine conflict and rising prices for commodities will result in five million fewer cars being built over the next two years.

Europe’s anti-crisis calls

The prime ministers of Spain, Portugal, Italy and Greece met on Friday to call for an urgent European Union-wide response to the energy crisis to come out of the upcoming European Council meeting. The Spanish government says it plans to introduce measures against high energy and fuel prices later this month. The anxiety in Europe is exacerbated by the fear that Russia will eventually respond to Western sanctions by cutting off energy supplies to the continent, sending their economies into recession.

Source:RT News

No login required to comment. Name, email and web site fields are optional. Please remember to keep comments respectful. We believe in free speech. Unfortunately, due the actions of one online troll, we have had to implement a manual moderation system to ensure online discussion remains civil and constructive. Your views and voice are important. Your comment will be published after moderation unless it contains hate speech or defamatory statements.

6 COMMENTS

  1. ALL BY DESIGN.

    Before you can “6uild 6ack 6etter”, you have to first destroy the current system. Get everyone good and poor, devastate man’s ability to feed himself and his loved ones. Many will be all too happy to trade freedom for security+mark of the beast biotech by then.

    A Controlled collapse by 2030 is the much touted goal of those who own our so-called “world leaders”.

    Grandpa Alzheimer’s is just along for the ride, as Trudope and HorseFace.

    • Controlled collapse……that would be why Labour ordered the concreting of Marsden Points pipes so they can never be used again…..and why all new cars will have the ability to be ‘turned off’. Yes that’s right people it’s all about control under the guise of ‘climate change’.

      Never mind all the children from third world countries working in lithium mines so we can all virtuously drive around in electric cars with lithium batteries and seats and other components made from petroleum based products and other chemicals. What happens when the electricity grid goes down? Will we burn more coal so we can charge our cars? How will we pay for stuff with our electronic currency? Yeah that’s right you technocratic geniuses……no electricity and the whole plan is munted. Gee and they think we are stupid.

  2. EU, particularly Germany, is still importing the essentials (oil and gas and others) from Russia. US wants them to stop so that they can subjucate further. Modern day “Prisoner of Uncle Sam” POUS nations are on the rise. NZ is become POUS nation graduating from a POMS nation.

  3. Have a look at Jack Maxey on Gettr- he has the full Hunter Biden Laptop and he is dropping all the emails and photos found on it by the end of the week. Hundreds of thousands of them.

    Many of the emails detail the extent of the Biden family’s and associates dealings in Ukraine, Kazakhstan and China and it really puts all this war in Ukraine stuff into a clearer light. What’s the old saying “follow the money”.

    The worst thing is all the people harmed because of all this.

  4. It is much more sinister. US created 40% of the dollar just in the last year alone. In the name of pandemic, US/UK/EU were creating money from thin air and exporting inflation all over the world. Golbal rich are simply using Economics 101 to maintain and improve their share of wealth by increasing commodity, and other asset prices. Why would rich sacrifice when governments are creating new money without anything “produced”. NZ created an extra 65 billion dollars last year and this gay economics is going to bite for years to come. Russian-Ukraine conflicti just an excuse because these countries are not reaping the rewards of the price increases all over the world but golbal rish are.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Opinion

Daily Life

Wellington
few clouds
6.1 ° C
9.8 °
5.6 °
83 %
4.1kmh
11 %
Fri
12 °
Sat
14 °
Sun
15 °
Mon
14 °
Tue
15 °
- Donate -spot_img
- Make Your Voice Heard -spot_img

Latest