Russian president Vladimir Putin’s decision to send troops into Ukraine spooked energy markets this week, amid fears that the escalating conflict and ensuing sanctions could disrupt global fossil-fuel supplies. Russia is one of the world’s largest producers of petroleum, natural gas, and coal, so any actions that curtail exports could have global ripple effects, pushing up prices and slowing economic growth. Western Europe is particularly vulnerable because it’s heavily dependent on Russia’s fossil fuels, despite determined efforts to switch to cleaner energy sources in recent years.
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