The Russo-Ukrainian conflict that began last February is not only affecting the society and economy, but also the environment in multiple aspects. Because Russia is one of the biggest manufacturers and exporters of oil and nonrenewable resources, it is expected that the impact of the conflict would be tremendous. In response to the sanctions from other countries, especially from the EU, the Russian government is reducing the exportation of their natural resources (including oil) as a response to such sanctions. This could be a crucial factor in the increase of oil prices because the EU receives more than half of its gas from Russia. The oil price jumped to $139 a barrel, which is the highest level in 14 years.
Not only that, Russia is one of the world’s largest suppliers of non-renewable resource metals. These metals are often used in cans, aluminium, copper wires, numerous car parts, and numerous other aspects of our daily lives. To meet the high demand, other oil-producing countries aside from Russia will expedite their oil production which requires the overuse of different resources and machines eventually leading to doing more harm to the environment in the long run.
Article developed by: Edge Eufemio, Zia Huh, and Regina Castor
References
Maciej Kolaczkowski. (2022, March 4). How does the war in Ukraine affect oil prices? World Economic Forum. https://www.weforum.org/agenda/2022/03/how-does-the-war-in-ukraine-affect-oil-prices/
Jones, L. (2022, March 7). Five ways the Ukraine war could push up prices. BBC News; BBC News. https://www.bbc.com/news/business-60509453
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