Ukraine Is Entering the Escalation Trap
The war in Ukraine is moving into a more dangerous phase, not because Russia is suddenly winning or because nuclear war has become likely, but...
Tag: black sea
The Next Supply Shock Is Already Underway
The next inflation shock may not begin with oil. It may begin with diesel shortages in Russia, dry fields in Europe and a growing inability...
The Black Sea Is Becoming the World’s New Supply Chokepoint
For most of the war, the economic significance of the Black Sea was measured through energy. Oil terminals, pipelines, refineries and Russia’s ability to finance...
The World Is Running Out of Safe Energy Routes
The latest developments in the Middle East make one thing increasingly clear: the energy shock is no longer only about oil prices. It is about...