Economics of war: Pain for Europe now, later for Russia

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Economics of war: Pain for Europe now, later for Russia
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Europe is facing an energy crisis fueled by the war in Ukraine, while high oil and natural gas prices are padding Russia's war chest. But the seeming economic divide belies the real pain that people in Russia will face.

like steel and agriculture, which could face natural gas rationing to protect homes if the crisis worsens.

It’s a critical safeguard for 1,800 member farmers whose 50,000 cows produce a million liters of milk a day. Dairy cows have to be milked daily, and a shutdown would leave that ocean of milk with nowhere to go. In one hour, the dairy uses the equivalent of a year’s worth of electricity for a home to keep up to 20,000 pallets of milk cold.

“We’re really concerned about the situation and the continuous increase in the number of families we’re supporting,” said Dario Boggio Marzet, president of the Food Bank of Lombardy, which groups dozens of charities that run soup kitchens and provide staples to the needy. Their monthly costs are up 5,000 euros this year.Jessica Lobli, a single mother of two from the Paris suburb of Gennevilliers, pays close attention to surging grocery prices.

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