A 1986 oil price shock necessitated austerity measures including severe cuts to core subsidies for health, education, and housing, which hit the lower and middle classes hard and contributed to a popular and bloody uprising in October 1988.
Tag: resources
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Historically low oil prices present a challenge to a country that derives more than 70% of revenue from oil, but there could also be an opportunity for Nigeria to achieve its long-sought and much-needed economic diversification.
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Oil production and known oil reserves are central factors motivating third-party military interventions in ongoing civil wars, recent research shows.
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As Ukraine searches for a unifying national identity, Russian-sponsored statebuilding in the east could lead to an emboldened ‘Novorossiya’ project.
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With violence on the rise, Libya’s road to democracy and statehood needs better political dialogue, stronger institutions, and a stronger UN mandate.
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Besides being a horrific human tragedy, the downing of Malaysia Airlines Flight MH17 risks becoming the accelerator of today’s deteriorating geopolitical relations between Russia and the West.
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A mixture of shared energy and security interests may lead Israel and Turkey to re-establish normal bilateral ties, though some challenges still remain.
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Gaza’s people hope that Hamas-Fatah reconciliation will improve their daily lives, severely impacted by Israel’s extensive blockade.
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As Serbia navigates between Russia and Europe, Ukraine crisis and Russian energy resources can help understand the complex dynamics at play.
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To protect its interests, Russia is pushing for the federalization of Ukraine through economic influence and propaganda, but use of force could still be possible.
