Ukraine-Russia war: Oil high already on, will food shock hit the world next? (Times Now) 

Times Now published an article that stated that oil prices have been soaring through the roof to the skies since Russia invaded Ukraine. There was another price hike announced last week amid confusion over whether major producers would help to plug a gap in supplies from Russia. With the US and western allies announcing a complete ban on Russian oil and sanctions on Russia, the prices of oil and gas, which have already risen sharply, will further soar if Russia were to halt exports. Russia and Ukraine together are known as Europe’s breadbasket, and IFPRI estimates that their exports represent 12 percent of all the food calories, not just wheat, traded in the world. While Ukraine’s supply is taking a hit because of the invasion, Russian supplies have been slapped with all kinds of economic sanctions.