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PM Worries Russia Will Stop Producing Oil, Which Will Make Oil Prices Unmanageable

KAMPONG SPEU: Prime Minister Hun Sen has expressed concern that if Russia, one of the world's largest oil producers, stops or suspends oil production, international oil prices will no longer be controlled and this will affect the lives of people around the whole world. He also expressed concern about the possibility of a nuclear war.

The Prime Minister made these remarks while speaking at the inauguration ceremony of National Road No. 51, connecting Udong of Kandal province to Thnal Toteung of Kampong Speu province, on Friday morning, 25 March 2022.

He said the negative effects of the Russia-Ukraine war have affected the whole world, especially in regard to oil prices, which are now out of control.

As Cambodia approaches the Khmer New Year, rising oil prices are likely to make travel during the holiday less comfortable for many people.

On 18 March, Prime Minister Hun Sen revealed that the Royal Government is monitoring the Russia-Ukraine conflict, "in order to formulate policies and put in place the necessary intervention measures in a timely manner."

On 24 February, Russia launched a large-scale attack on Ukraine. Russian President Vladimir Putin has justified this action by saying there was an urgent need to launch a military operation to demilitarize Ukraine in order to protect the Donbass Republic and to ensure that Russia will not be under NATO threat from Ukrainian territory.

Russia's invasion of Ukraine has led to a series of US-led sanctions from the West, targeting Russia’s main sources of income. However, a secondary effect of the sanctions has been that it has exacerbated a world crisis centered on oil, hurting the global economy and people's livelihoods.

PHOTO: EAC NEWS


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