Introduction To those with eyes to see, there is no question that the Russia-Ukraine war is heading for WWlll (Rev. 16:16-18; Matt. 24:1-7). As stated above, it’s just a matter of time.
“International sanctions” “Typically intended as strong economic coercion, measures applied under unilateral sanctions can range between coercive diplomatic efforts, economic warfare, or as preludes to war. There are several types of sanctions.”
President Biden, along with NATO, have put these sanctions on Russia to make them stop the invasion of Ukraine. What is actually happening is the sanctions are backfiring on Biden and NATO. They thought they were punishing Russia, but its causing their and the world’s economies to suffer. For example, they banned certain Russia banks from the electronic transfer system SWIFT, which is is causing chaos in the financial markets.
NATO and the US have banned Russian from many organizations like the World Economic Forum (WEF).
“We are not engaging with any sanctioned individual and have frozen all relations with Russian entities.”
Banning various Russian crucial metals, such as palladium and platinum, is causing a shortage. These metals are used in catalytic converters, to convert as much as 90% of the harmful gases in automobile exhausts.
“Russia and South Africa are the world's largest palladium producers, with a combined market share of 80%, or 5.4 million troy ounces. Russian company Norilsk Nickel produces up to 38% of the world's palladium as a byproduct of nickel mining."
"Palladium prices have skyrocketed 80% this year to all-time highs, as financial sanctions on Russia, which produces 25-30% of global supply, disrupted shipments and worsened a supply shortage.” Void left by ban on key metal from Russia can't be filled ____________________
Other problems with banning Russia's exports are that Russia and Ukraine supply 30% of the world’s wheat and Russia is the second or third largest producer of oil and its products. By the West doing this, it has caused major problems for Europe, US, and the world.
This banning is causing a lack of supplies in wheat, gas, and oil products. Wheat prices will be exploding in some of the African and Asian countries that rely on Russian and Ukrainian wheat. These are just a few of the commodities that NATO and the US have banned that are causing many problems in the world’s economy.
Shortage of wheat may also cause famine in many parts of the third world, verifying Revelation 6th Chapter. This will be the chief cause of world inflation.
You may wonder why you are paying at least $5 a gallon for regular gas and up to $7 for premium. This hasn’t taken into account the ban on Russian oil yet. The ban on oil has only been active for about two weeks so current prices don’t fully reflect the banning of Russian oil. When the full banning of Russian oil goes into effect, the prices may go even higher; to $8 - $11 gasoline.
Understand that rising gas prices places a tax on the consumer. It reduces his discretionary spending so the consumer has less money to spend on other products in the economy. In the last five times when there were huge price increases, like in the 1970s an 1980s, it resulted in a serious recession. So within the next three months to a year, we can expect a serious recession to unfold upon the US consumer, especially with all the debt in the economy.
The oil market is highly leveraged and anything can go wrong in the economy that may break some things. It may cause the economy to collapse like in 2008. The US as a result of the banning of Russian oil is begging Saudi Arabia, the gulf states and Venezuela to pump more oil.
Can you image a great world power, the US., begging some of the oil producers to produce more oil so that prices can fall? Oil prices have already exploded to over $120 - $130 a barrel. See below.
Often many minority reporters use the race card to view world and geopolitical events which really don’t have anything to do with them. The Russia-Ukraine war is an economic war for resources. See Joy Reid’s comments in the article below. Joy Reid: World Only Cares about Ukraine Because It’s a 'White Christian' Nation- with embedded video