Sanctions and lack of investment in the fuel and energy complex will lead to a new global crisis in 5-10 years

The strengthening of anti-Russian sanctions, the rejection of Russian energy resources and the underinvestment of traditional energy in 2022 led to the aggravation of the energy crisis around the world. Deputy Prime Minister Alexander Novak, who oversees the fuel and energy complex, spoke about this on December 26 in an interview with TASS. The continuation of these trends will lead to a new round of the global crisis in 5-10 years, he believes.

According to the vice-premier, many Western companies are looking at the strengthening of sanctions against Russia “with apprehension”. But instead of investing in traditional energy, they withdraw funds in the form of dividends, Novak added. This will lead to a shortage of energy resources and a new round of the crisis. “[Кризис ожидается] in the medium term. Within 5-10 years, the world will face serious problems,” Novak believes. Most of all, in his opinion, a new round of the crisis will affect Europe.