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Fossil fuel firms and agricultural traders cash in on the war in Ukraine

Critics suggest investors are promoting the disruption that they then benefit from – while also slowing a move towards green energy

Fossil fuel firms and agricultural traders cash in on the war in Ukraine
Smoke rises from burning fuel tanks at the Vasylkiv Air Base near Kyiv, 12 March 2022 | Thomas Peter/Reuters/Alamy
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As Russia continues to inflict untold suffering and devastation in Ukraine, many around the world are profiting amid the horrific bloodshed.

Depressingly, given the spiralling climate crisis, fossil fuel firms – and their investors – are the biggest winners of the war, reaping the benefits of surging energy prices and new governmental measures to expand oil production.

Coal companies and offshore drilling services have done the best out of the geopolitical crisis, both registering an astonishing 42% increase in their market value.