Christina Lu and Robbie Gramer
There’s a semiconductor supply crunch, the cost of tooth fillings is spiking in Japan, sofas in Britain are becoming pricier, and American breweries are scrambling to find enough aluminum cans for their beer. All these economic headaches can be traced back to Russian President Vladimir Putin’s decision to invade Ukraine.
The war in Ukraine has sent shockwaves across global commodities markets as many of Ukraine’s most vital exports grind to a halt under Putin’s war machine and new waves of international sanctions begin shutting off Russian industries from the global markets. Western policymakers are spending the bulk of their time trying to fight rising energy prices and figure out how to wean off Russian oil and gas, not to mention feed the millions of people who relied on Russian and Ukrainian grain.
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