As the United States and Europe ramp up their sanctions on Russia, Western consumers will soon face rising costs.
That’s true even for American consumers, even though relatively few Russian exports reach US shores.
The higher prices are modest compared to the destruction of life and property in Ukraine. But the price pressures come at a bad time when America’s inflation rate is already at a nearly 40-year high. And the pressures on household budgets could undermine broad support for sanctions among the broader population in the West.
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