Link to article – https://allafrica.com/view/group/main/main/id/00081669.html
Sumary – Many countries are beginning to rely on new sources for oil amid the Russian invasion of Ukraine. Europe is facing a supply gap in oil, leading prospectors to point to Africa for a new source of oil. There are talks of a large shift to Africa as Europes next “gas station”. Several producers like Algeria and Nigeria are already facing soaring oil sales. Experts in economics are expecting Europe to increase investments in oil in Africa to minimize the supply gap from Russia.
Analysis – European companies and lawmakers should consider how to make projects in oil in Africa to be long term successes, that will not harm Africans. I hope that the transition to Africa as Europe’s gas station will be peaceful and beneficial for Africans, and helps to boost their economy. This is a good idea to minimize the supply gap from the Russian invasion of Ukraine. It is important for European powers to cut off Russia from oil profits and impose sanctions as a way of discouragement.
This relates to IR because it shows how the effects of the Russia invasion of Ukraine are global and affect economies far and wide. The consequences of the invasion are widespread and cause severe issues for Russia. It is interesting to see how this created an opportunity for African countries to insert themselves into the booming oil demand.