This week, Mr. Geopolitics went from the war in Europe to the race riots in the UK to the effect of a global recession on geopolitics. One of the most shocking insights was this:
Ukraine has entered Russia, and now controls over 500 square kilometers of land. This is the first time a foreign power has entered Russia in 80 years. The last time this happened was during World War II.
(From the insight “Ukraine Exposes Russia”)
Below is a debrief of Mr. Geopolitics over the past week.
August 5, 2024 | Mr. Geopolitics
“However, as Europe bounces back from one energy crisis, another energy crisis threatens to begin, potentially snowballing into an “energy war,” that could break the EU in irreversible ways.
In June, Kyiv banned Lukoil, a Russian energy giant, from using Ukraine as a transit hub, to export oil to Europe. Lukoil was using the Druzhba pipeline, also referred to as the “Friendship Pipeline.” For Ukraine, the ban on Lukoil was aimed at cutting Russian energy revenue.
Except, Ukraine’s action put Hungary and Slovakia, immediate neighbors of Ukraine, in emergency mode. In particular, Hungary depends on Lukoil for almost 50% of its Russian energy imports. According to one analysis, from June, without Lukoil’s energy, Hungary could face electricity shortages “within weeks.” And, it won’t be until 2025 that Hungary can begin replacing large chunks of Russian oil imports with alternatives.”
Read the full insight here.
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