Russian President Vladimir Putin’s invasion of Ukraine is forcing governments worldwide to digest the geopolitical consequences of war pursued by an energy superpower.
The 27-nation European Union has responded by speeding up its disconnection from Russian gas, while the U.S. has barred Russian oil imports and is scouring the world for alternative supplies. Saudi Arabia is reveling in a renewed strategic importance as crude prices that collapsed two years ago hit new highs.
And Russia, by threatening to withhold energy exports to Europe, is being thrust closer to China.