Iea/Birol: Oil Sanctions On Russia Will Create A Major Production Crisis

Fatih Birol, President of the International Energy Agency, made statements about the energy crisis and the energy costs in the upcoming period. Underlining that many energy-importing countries are about to enter a vortex of foreign debt, Birol pointed out that this is an extremely risky situation for the world economy. Mentioning the energy crisis in Europe originating from Russia, Birol stated that the major European powerhouses should make a self-criticism about energy and question why they have tied most of the energy they supply to a single country for years. Stating that the continent is now punished for this decision, Birol noted that the big surprise is that this winter seems to be able to get through with some wounds.