Russia’s invasion of Ukraine in February 2022 caused energy markets to go haywire. Historically, rising energy prices have generated balance of payments crises and debt accumulation among these countries. This is particularly concerning because debt and energy imports are directly connected to water, food, and climate in the world’s poorest states. [4]The worsening climate predicament is highlighting the tradeoffs that exist between water, food, and energy security—growing instability in one can quickly imperil another. Are turbulent global energy markets affecting energy transitions in LDCs?

Source: New York Times April 06, 2022 18:23 UTC