News - World: An increase in energy prices in the world, which has intensified as a result of the Ukraine war, has inflicted unprecedented levels of inflation on people living in countries using the euro.

In June, the annual inflation in the eurozone countries reached more than 8.6%, exceeding the 8.1% recorded in May, with energy prices increasing 41.9%.

The price of oil has increased in recent months, partly due to the subsiding of the coronavirus pandemic and the war in Ukraine. This has caused the price of petroleum products to rise unprecedentedly in the world, especially in countries that use the euro in their transactions.

EU leaders have also decided to reduce their dependence on Russian oil to a minimum by the end of 2022. The 27-nation bloc’s leaders are determined to reduce their dependence on Russian fuel because of the country’s involvement in the war with Ukraine, bringing about the tough pressure of inflation in Europe.