When the crisis finally settles, if indeed, it does, between Russia and Ukraine, analysts say there would be a lot of rebalancing to follow, in Europe and then globally. That rebalancing is already on somewhat.
The world has been rudely awakened in just a little over a month to the realisation that it is dependent on the Russian-Ukrainian axis for so many things. Europe’s wholesome dependence on Russia for its energy needs and, overall, the huge influence both countries have on global commodities markets has led many to question why it now looks like nobody saw any potential danger in it.
Now, for the first time, Business A.M. learned from sources in London, it is beginning to emerge that, concerning gas supply, a push is on to establish more supply sources that would ensure that Western European countries do not have to go through this kind of dependency crisis again.