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Economy & Business - April 2022

MEXICO: Ukraine conflict to impact prices despite government’s reassurances

Following Russia’s invasion of Ukraine on 24 February, President Andrés Manuel López Obrador declared that Mexico would not feel the effects of the rising energy prices that the war had caused elsewhere. He reiterated this promise on 8 March, when he said in his morning press conference that Mexico was in fact benefiting financially from the conflict, due to increased oil production volumes and higher prices paid for its oil exports.

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