Alexey Grivach: With soaring energy prices, the specter of stagflation haunts the world

The surge

A full embargo on Russian energy resources is still a long way from being implemented, but difficulties are already emerging.

The surge in energy prices, which began last year and has been reinforced by Russia’s military action in Ukraine and the “collective West’s” sanctions war against Moscow, has brought the world back to the 1970s.

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