The EU banned offshore oil imports from Russia, and then the G7 countries put a price cap on exports. After that India became the largest importer of Russian oil offshore.

WTI oil increased after Tuesday's 2% fall. It happened because the mixed earrings and weakening business activity caused fear of a possible slowdown of the U.S. economy.

In a recent interview, New York University professor Nouriel Roubini said that the current crisis will force investors to rush into gold. The value of the yellow precious metal will rise to $3,000 by 2028.