Trade body predicts who will suffer most from gas price spike ...News

Rising energy costs will have a greater impact on European countries than on the US, the WTO says Prospects for the global economy have darkened since the outbreak of conflict in Ukraine, the World Trade Organization (WTO) said in a new report published on Tuesday. It has forecast that record-breaking prices for natural gas would hurt Europe the most. According to the report, the most immediate economic impact of the crisis has been a sharp rise in commodity prices. “Despite their small shares in world trade and output, Russia and Ukraine are key suppliers of essential goods including food, energy, and fertilizers

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