Sanctions, the redrawing of global trade routes, and the impacts on Europe and Greece
Western sanctions punishing Russia for its invasion of Ukraine are reorganizing global trade routes along political lines, defying geography and efficiency. This new reality is creating a windfall for merchant shipping, but it risks creating higher prices for European consumers and hunger for Africa, with the UN recently warning of “famine, destabilization and mass migration” unless action is taken. In the meantime, Greek consumers are also feeling the sting of rising prices, and aides close to Prime Minister Kyriakos Mitsotakis have called the fight against inflation the “mother of all battles.” John Psaropoulos, an independent journalist based in Athens and Al Jazeera’s southeast Europe correspondent, joins our host Thanos Davelis with the latest analysis.
Read John Psaropoulos’s latest piece for Al Jazeera here: Russia sanctions redraw shipping routes, cleaving East from West
You can read the articles we discuss on our podcast here:
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Greece will review plan to secure supplies if Russia halts flows
Lagarde: Cyprus will be affected by inflation and rising energy costs
Lagarde: Cyprus better equipped now to withstand crisis