The economic and human cost of the Russia-Ukraine war is increasing. However, instead of finding a negotiated settlement of the Russia-Ukraine dispute, there is an effort to cap the price of Russian oil exports. Such a measure can jeopardise the nascent post-Covid economic recovery due to shortage of energy in advanced economies while this may or may not pressurise Russia to stop war. Meanwhile, a human crisis is intensifying in many developing countries due to rising food and fuel crises.
