Kiel Institute in the News

Russian Oil Embargo Risks More Inflation Trouble for Europe

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... The short-term impact of the EU''s proposal should be limited because the timetable is in line with existing plans by governments to wean themselves off Russian oil, according to Klaus-Juergen Gern, an economist at the Kiel Institute for the World Economy.

Even so, markets for refined products like diesel, where Russia is an important supplier, may "become tight, and prices could increase further," Gern said by phone. And while lockdowns in China could make it easier to find alternatives to Russia for oil -- that could change if the Asian country''s economy picks up again. ....

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Kiel Institute Expert