Government Policy

BANGLADESH MAY FACE SEVERE STRESS IF UKRAINE WAR PROLONGS

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Energy and Power

The unfortunate Russia–Ukraine war, entering the second week when this write up was prepared, has already caused crude oil prices in the global market to reach US$120 /Bbl. Analysts predict that in no time it would burst through US$150 even $200 if the USA-led Western allies impose a ban on Russian gas and oil. Till now the Western leaders were reluctant, but major buyers and refiners reportedly were already in a short of “self-sanctioning” mode. Analysts predict that not even the Iranian supply can replace it if Russian oil is lost even temporarily from the global market. Bangladesh relies ex…

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