Business & Economy

International Energy: The world is facing an energy crisis

The International Energy Agency confirmed that the world is now facing the first global energy crisis, as the world previously faced a crisis in oil only.
The Executive Director of the International Energy Agency, Fatih Birol, said that “the sanctions imposed on Russia and the response to them will have significant repercussions on the energy market.”
He added: “Let us remember that Russia is the number one oil exporter in the world and the world’s number one exporter of natural gas, in addition to being a major player in the market for materials used by the energy sector.”
“Therefore, sanctions imposed on Russia or political decisions from the Kremlin will have serious consequences for the energy market,” he said.

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