US newspaper: Sanctions against Russia threaten to increase inflation around the world

Washington (ST): The New York Times confirmed that Western sanctions imposed on Russia under the pretext of the crisis in Ukraine are stifling global supply chains and threatening to increase inflation around the world.

The newspaper pointed out that the global economic outlook has become bleak with the rise in oil and natural gas prices, while the tightening of US and European sanctions imposed on Russia has tightened the screws on supply chains that are already suffering from the effects of the Corona pandemic.

 The newspaper pointed out that Western sanctions against Russia have led to a rise in energy prices, driven by concerns about disruptions in oil and gas flows. Concern about the lack of these flows has led to a rise in grain and metal prices, which will lead to increased costs for consumers and businesses.

The newspaper pointed out that Russia and Ukraine are among the largest exporters of wheat, corn and major minerals such as aluminum and nickel used in all industries from mobile phones to vehicles.

K.Q.