Commodity Prices Skyrocket Due to Supply Chain Breakdown and the Crisis in Ukraine

Commodity Prices Skyrocket Due to Supply Chain Breakdown and the Crisis in Ukraine
A view shows the Gazprom Neft's oil refinery in Omsk, Russia, on Feb. 10, 2020. Alexey Malgavko/Reuters
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Global commodity prices skyrocketed on March 7, as the Russian–Ukrainian conflict has caused industrial buyers and traders to scramble for new sources of raw materials hit by supply disruptions.

Russia’s attack on Ukraine nearly two weeks ago has prompted massive sanctions against Russia by the United States and its Western allies.

The sanctions against Russia are the most sweeping ever experienced by a large economy.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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