Beautiful Virgin Islands

Thursday, Jul 24, 2025

‘Buckle up’! Ukraine-Russia conflict expected to impact BVI

‘Buckle up’! Ukraine-Russia conflict expected to impact BVI

The Russian military invasion of Ukraine that began last week has roiled global markets in recent days sending global oil prices higher and the effects are expected to reach the Virgin Islands.

The skyrocketing oil prices are expected to inject more uncertainty into an already off-balanced world economy that is still reeling from the impacts of the coronavirus pandemic.

Speaking at a press conference on Friday, Minister of Transportation and Utilities Kye Rymer said he is expecting the high prices to have some impact on the territory. However, he used the moment to continue encouraging people to think about greener alternatives.

“We have encouraged persons to go green and utilise the shuttles and less consumption of fossil fuels. We expect what is happening in the world to impact us. Like the president of the United States mentioned to his people to brace for inflation and some hardship. So, yes, we will see it and the government will discuss measures and then try to put measures in place to make things easier for the people of this territory,” Rymer said.

‘Buckle up’, Premier warns


Meanwhile, Premier Andrew Fahie said the BVI government does not control the world’s economy. But similar to what US President Joe Biden told the Americans recently, the people of the Virgin Islands must “buckle up” as there will be some economic hardship resulting from the Russian-Ukraine conflict.

“This is not going to be something I or anybody could control here in the BVI, that is going to be difficult, but we have started some things that can help, that is why we went green. Even if fuel price increase with the war in Ukraine, it does not increase the cost of the sun,” Fahie said.

“We have shown that we want to deal with these matters by being proactive, not knowing there is a war going on in Ukraine. When we passed legislation that all the resources and materials for going green and for alternative energy can come in the territory duty-free. We have done some things with the school and putting things where we don’t need to be reliant on fossil fuel, we have been doing some things to be proactive. Yes, there are going to be some effects of it but by being proactive, we can mitigate some of them,” the Premier added.

Our news centre tried reaching the General Manager for the BVI Electricity Corporation (BVIEC), Leroy Abrahams but up until news time, all efforts made were unsuccessful.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
×