Russia's Ukraine invasion could have set in motion an energy market disruption on the scale of major oil crises in the 1970s, according to Daniel Yergin.
The EU receives most of its natural gas supplies from Russia. In 2020, the country accounted for 43.4% of the EU's natural gas stock, followed by Norway at 20%.
The news comes as Russian bombings all over Ukraine intensify, and the number refugees who have left Ukraine surpasses 1 million, according to the U.N.
It is hoped an agreement to address the growing problem of plastic waste in the world's oceans, rivers and landscapes can be reached by the end of 2024.
There are fears that high oil prices will be highly recessionary, destroy oil demand and slow down a lot of economies, said Paul Sankey of Sankey Research.
China's emphasis on its own food production and security helps mitigate the impact of the Russia-Ukraine conflict on domestic food prices, analysts said.
Shares of Russia's Sberbank plunged 95% on the London Stock Exchange on Wednesday to trade as low as a penny after the bank announced that it was pulling out of the European market.