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The winters in Europe could chill India’s economy
The winters in Europe could chill India’s economy

In an effort to cripple Russia’s economy, which is largely propelled by the sale of fossil fuels, the European Union opted to impose huge sanctions and has vowed to eventually stop buying Russian gas. However, as a result, gas prices across Europe have shot up in recent months. India imports over 80% to satisfy its crude needs. Despite attempts at diversifcation, the slowdown in growth of the global economy is expected to affect India.