Crude Oil

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Bracing for the Changing Geopolitics: Ukraine Crisis and Energy Security in India

As Russian troops reach Kyiv, the capital of Ukraine, the Brent crude prices have already touched $110 a barrel, a level that was breached 8 years ago in 2014. The moot question, therefore, is, whether or not India was ready to anticipate and handle the consequences arising out of such a crisis with minimal disruptions. Taxes on petroleum, today, may be a major source of revenue but is also vulnerable to volatility impelling upon the need to look for an alternative but stable source of revenue to the government.

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