High energy prices and rising living costs following Russia’s gas supply shortages in Europe brought the wealthiest nations to the brink of civil unrest over the winter, according to risk advice Verisk‘s report.
What happened: Verisk’s report says its Civil Unrest Index found that more than 50% of the nearly 200 countries covered experienced an increase in the risk of mass mobilizations between the second and third quarters of 2022, Reuters reported.
“As the winter progresses, it would not be a surprise if some of the developed nations in Europe experienced more serious forms of civil unrest,” said Verisk Maplecroft’s principal analyst Torbjorn Soltvedt said the publication.
The report found that Germany and Norway are some of the developed economies facing disruption to daily life due to labor force issues. Other countries with a projected increase in risk were Bosnia and Herzegovina, Switzerland and the Netherlands.
This comes after Vladimir Putin’s invasion of Ukraine led to a sharp rise in food prices and Russia’s cuts in gas supplies left Europe at the center of the fallout.
“And we’re still experiencing some of the fallout from the COVID pandemic that comes with existing supply chain disruptions,” the chief analyst said Jimena Blanco said.
Meanwhile, earlier this week, Russia stopped gas supplies about the most important supply route in Europe and gives technical reasons for delivery cuts. While Brussels accuses Moscow of using energy supplies as a “weapon of war.”
