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Radio France Internationale
Radio France Internationale
National

French finance minister Le Maire warns world heading for 1970s-style energy crisis

Le Maire Finance United States Ukraine Bruno Le Maire Russia United Kingdom
French Finance Minister Bruno Le Maire has warned that the world is heading for 1973-type energy crisis due to the Russian invasion of Ukraine. REUTERS - Nick Oxford

French Minister of Finance Bruno Le Maire has warned that the spike in energy prices caused by Russia's war in Ukraine will produce knock-on effects comparable to the 1973 oil emergency.

Speaking at a conference in Paris this Wednesday, Le Maire cautioned that the current energy crisis was "comparable in intensity, in brutality, to the oil shock of 1973."

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