Lessons from Ukraine crisis

It's time to cushion India from the same 'oil shock' story

With depressing familiarity, geopolitical conflict has again hit economies around the world, leading to a surge in oil prices and raising the spectre of hard-won economic recoveries unravelling.

The tragic conflict between Russia and Ukraine saw oil prices jump to $139 per barrel last week, the double of what it was in early December 2021. The latest flashpoint makes the task of Indian economic policymakers harder.

The harsh reality is that fossil fuels will continue to react to troubling world events in a way detrimental to economies around the world and, unfortunately, one can expect more future geopolitical disruptions.

The clues to our