Egyptian economist Nour Nada said that the continuation of the crisis in Ukraine threatens the shortage and shortage of supply of nickel, coal, oil and derivatives in the world, due to the difficulty in finding alternative supplies.
The RT expert added: “First: the supply of Russian diesel. The European market is running out of supply of Russian diesel, which was already in short supply before the start of Russia’s special military operation on Ukrainian territory. ”
Second, the oil derivatives markets, where American oil refineries have lost their fuel oil to Russia, are used as a raw material for further processing operations and the effectiveness of operations this has been proven, he said, noting that it could explain U.S. attempts. The West has long approached Venezuela under US sanctions.
The expert said: “Active attempts to revive the 2015 nuclear deal with Iran, including Russia’s boycott of oil supplies to America and Europe, could accelerate the flow of oil to the West from the border country. of the Persian Gulf to close the gap. ”
And he continued: “Third: the supply of thermal coal, because Europe is Russia’s largest importer of thermal coal, which is mainly used in power plants in the central and eastern regions of the continent. Coal prices are now witnessing a sharp increase, as Europeans and energy-using companies such as energy-intensive manufacturing companies, such as the manufacture of steel, aluminum and its derivatives, are negatively affecting those. its utility bill.
The expert added: “Fourth: the supply of nickel ore, as Russia’s supply is shrinking and stocks are starting to run out, the nickel market has entered an unstable state, leading to an unprecedented increase in price. Metal markets around the world. ”
It is noteworthy that Russia is the world’s leading producer and exporter of the type of nickel used in the manufacture of steel batteries and electric vehicles.
The specialist continued RT: “Fifth: The turmoil in the aluminum markets, the global market is already suffering from a reduction in the supply of aluminum, and it is negatively affecting companies operating in the aerospace, automotive and construction sectors, especially in Europe. Higher. price of aluminum, packaging products This is reflected in the costs of consumer products such as cars and cell phones.
Sixth: Russia’s steel and steel industries and steel-making plants find it difficult to export to Europe due to Western boycott packages and denial of banking and insurance facilities and services, as well as logistics restrictions. and maintenance. Services from Russian or foreign shipping carriers to and from Russia. ”
Egyptian economist Nour Nada concluded that some factories in Europe were under threat of closure and that Europe was paying the price. Some factories and workshops in Europe may have to close at record levels due to Russia’s raw material shortages and rising energy costs. .
Source: RT
Source: Arabic RT
