Gas in Germany, flour in Greece, sunflower oil in Spain, the European countries take steps towards rationing as the war in Ukraine adds to the global supply crunch

Russia’s invasion of Ukraine has threatened the supply of critical commodities in Europe and thrown global supply chains, which were already struggling amid COVID-19, into complete chaos. As a result, the prices of everything from wheat to oil have soared, leading to multi-decade high inflation rates in places like Germany and Spain. The supply crunch in Europe is now so bad it’s causing governments to begin laying the groundwork for rationing, with some stores already limiting supplies.The German government took the first formal steps toward rationing its natural gas supplies this week as it attempts to wean itself off a decades-long reliance on Russian energy. And in Spain and Greece, supermarkets are rationing food including flour, milk, and sunflower oil. While current European rationing has largely been preventative, as governments and businesses hope to limit the risk of panic buying and further shortages, Europeans are facing a volatile environment ahead as geopolitical ...