Key messages from the discussion:
- Stagflation is a combination of economic stagnation/slowing economic growth, and inflation. This causes problems for various economies around the world but poor countries are the most impacted.
- Food and energy prices were already on the rise before the Russian invasion of Ukraine; the war has made a bad situation worse.
- The outlook for economic growth in the MENA region is divergent. Net oil importers are suffering from higher import bills due to the rise of energy and food prices. In contrast, net oil exporters are enjoying a better economic outlook due to higher oil revenues.
“Energy Sanctions and the Global Economy: Mandated vs Unilateral Sanctions“, Christof Rühl, May 2022
“Sanctions and the Economic Consequences of Higher Oil Prices“, Christof Rühl, Apr 2022
“Energy Markets and the Design of Sanctions on Russia“, Christof Rühl, Mar 2022
“Global oil markets and OPEC+ plans“, Dr Carole Nakhle, Jun 2022
“A new oil cartel?“, Dr Carole Nakhle, May 2022
“EU Talks to Ban Russian Oil“, Dr Carole Nakhle, May 2022