“Russia is the biggest oil supplier and its position in the energy market is unshakable and each and every serious step to abruptly supply might affect the whole world economy and oil prices globally [...] the primary effect of sanctions on Russia, for Africa in particular and Global South in general, has been a significant increase in the cost of essential goods, especially food and fertilizers [...] This has, of course, aggravated food insecurity and inflation in vulnerable economies, though, of course, alternative trade routes have emerged over time, [...] Russia has expanded its foreign trade with other regions, including countries in the Global South, in particular in Africa, some countries have continued to trade with Russia,” the expert noted.
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