Economy
Oil at War: Whose Windfall, Whose Illusion — A View from Kazakhstan
By mid-July a barrel of Brent costs about $78.82 — some 19% above the pre-war level, though early in the month the price had slipped back to seventy. The Strait of Hormuz, through which about 20% of the world's oil passes, is close to shut. Why for an exporting country this is both a gift to the budget and a trap.
