Eliana Svilik, Stanford University -- Global energy markets have transformed since Russia’s full-scale invasion of Ukraine shifted key resource flows, creating new winners and losers. Prior to Russia’s invasion of Ukraine, the former was the world’s second largest producer of natural gas and third largest producer of crude oil. EU member states relied on this supply for the majority of its oil and gas as part of a developed, seemingly mutual partnership. As the third anniversary of Russia’s invasion nears, changes in energy supply chains demonstrate that the U.S. and EU have largely won the concurrent energy war.
