One Year of War in Ukraine: The View from Resource-Rich Developing Countries

Feb 23, 2023 | Suneeta Kaimal, Ana Carolina González Espinosa, Susannah Fitzgerald, Antonio Hill, and Amir Shafaie
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Russia’s invasion of Ukraine has uniquely affected developing countries rich in oil, gas and minerals. Translating resource wealth into economic and energy pathways that benefit all citizens has been a longstanding challenge in such countries.

For the first time, the IEA’s World Energy Outlook (WEO) 2022 contains a prevailing policy scenario (called STEPS) that projects a global peak or plateau for all fossil fuels, with total fossil fuel demand falling steadily from “the mid-2020s

Investment in renewables, advocacy for international financial and technical support and equitable energy access are priorities. Competition for transition minerals opens economic opportunities for producing countries. The imperative of securing supply was on full display at this year’s African Mining Indaba, where Mineral Security Partnership envoys met with African officials to discuss financing and other support to transition mineral mining, processing and recycling.