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The invasion of Ukraine by Russia has immediately affected the economy. The price of oil and gold rose in Russia and in many countries of the world.
In the press conference he gave after the meeting of the NATO Security Council, Prime Minister Edi Rama said that work is being done to prevent the rise in the price of energy and hydrocarbons.
“We buy in international markets, which means that it matters a lot what prices the international markets have. So we made a change, we turned the import-export scheme upside down. We are working to build Skavica, it gives us the opportunity not to spill any water when we have a lot of rainfall and not to sell any kv when it is cheap, do we have a port stored?”.
Rama also answered the question that he says he has heard and read everywhere these days, how Albania can withstand a possible war in our country.
“There are many people who say that war may come and Albania has no planes or missiles. Albania has its own plan to strengthen the army, work is underway on a NATO air base here. We neither anticipate nor avoid World War III.
It is very important to continue our normal work and activity. We are a NATO country, which means in the case of Ukraine we are dealing with a partner country that has been attacked, but does not immediately set in motion Article 5, that when a country is attacked, everyone is attacked.”.
The high level of uncertainty, since Russia launched its invasion of Ukraine the day before, is affecting the performance of stock exchanges, starting with those in Asia that reached their minimum since 2020, when the first news of the pandemic spread. coronavirus.
The price of oil reached $ 100 per barrel for the first time since 2014 and there have been new increases for natural gas, of which Russia is the main supplier to European countries. Gold reached a new level after its price increase in early 2021.
The Wall Street Stock Exchange and the Nasdaq Tech Index ended Wednesday losing 1.38 and 2.57 percent, respectively. According to analysts, after an initial collapse, stocks will rise again in the coming weeks, after clarifying Russia’s intentions in addition to military intervention.
In Tokyo, the main stock market index closed at 1.3 percent, while the Australian index lost 3 percent and the South Korean index 2.6 percent. The Hong Kong Stock Exchange lost 3.4 percent and the Shanghai Stock Exchange 1.7 percent. In the following hours, losses from the main stock indices of European stock exchanges are expected.
Among the raw materials that need to be monitored more carefully is gas, the price of which has significantly affected the cost of energy in most of Europe.
The main reference index recorded an increase of 41 percent, confirming the increases observed in recent weeks.
The ruble, the Russian currency, has hit an all-time low against the dollar, losing more than 7 percent. For one dollar it takes 87.66 rubles, at the end of 2021 it took about 73. In the early hours of Thursday, the euro lost 0.55 percent against the dollar and 1 percent against the yen, the Japanese currency.
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