281 billion profits from Ukrano-Rusky war

Roni Alasor / 21 February 2024 - Middle East Diplomatic - While Ukrainian-Russian war  cost over 10,000 human lives and around 20.000 people injured, worlds five biggest oil companies already got around 281 billion USD as profits of war.

According to the British newspaper The Guardian, the five largest oil companies in the world are BP, Shell, Chevron, Exxon-Mobil and Total Energies. Since the war in Ukraine, two years ago, they recorded a total of 281 billion USD in profits of war.

The news sparked many reactions also in social media where many wrote that the money that seems to fall from heaven like manna, but will not flow into society. There is no talk of investments in affordable and sustainable energy; on the contrary, they are being scrapped back.

The money flows quickly to the richest shareholders (in the form of higher dividends or by buying own shares to boost the price of the shares).

Profits have risen so sharply in the past two years that some economists are advocating for targeted price controls.