Here is what is on the horizon with the invasion, Russia will prevail soon but Russia is the world's top exporter of wheat, Ukraine is #5 and they will not be planting this spring, (although it would be good if they did.) That alone will cause a major worldwide wheat shortage and led to mass hunger. Meanwhile fertilizer will be hard to get as there is already a shortage of nitrogen and phosphate (China has stopped exporting it), 40% of world's potash is from Russia/Belarus. There will be famines, not necessarily in Europe or North America but plenty of places like Brazil and Australia rely heavily on fertilizer. Last time we had global wheat prices rise fast, it led to the Arab Spring with lots of coups and uprisings. This shortage will be much worse. The natural gas shortage will be a major crisis for Europe. There is no avoiding this as Ukraine will attack infrastructure and Russia will leverage the price and Turks will block it through their straits. US will likely stop exporting its 3 million daily barrels of refined oil product, which will raise prices much higher. And of course once countries need oil they tend to attack other countries to get it, so expect lots of action. China is for sure is still financing Russia. China has not condemned the Russian war, they might even use this war as a smoke screen to attack and take over Taiwan. China and Russia combined have way more gold then the USA ever will have. Cutting Russia out from the swift system and other economic sanctions will not slow them down. The USA is afraid to attack Russia because they got nuclear weapons and it will it will lead to a world war. Even though USA would win, they will take a big pounding and heavy causalities. Btw Israel reluctantly condemned Russia.
After the EU, China is the biggest buyer of Russian oil. They also do a lot of trade and that will not stop despite US sanctions. About China financing Russia, while a majority of Russia’s foreign exchange reserves have been frozen by Western sanctions, an estimated $77 billion are Chinese assets according to the Bank or Russia. As expected, Beijing is making it clear it will not join EU and U.S. sanctions — but giving Moscow a financial boost with liquidity at this moment will clearly be seen as funding Putin’s war chest.
www.cnn.com
