The spike in energy prices following the Russian invasion of Ukraine will be as brutal as the 1973 oil crisis that triggered inflation across the world, the French finance minister said today
Bruno Le Maire issued the forecast while rejecting new “whatever-it-takes” spending to cushion the shock in the way that France allocated billions to ease the impact of the coronavirus epidemic.The leap in oil and gas prices as a result of supply disruption over Ukraine “is comparable in intensity and brutality to the oil shock of 1973”, he told a conference in Paris.
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