RICHMAND, Virginia (WRIC) – A foreign adversary is currently invading the American ally. Although the United States is thousands of miles from Ukraine, what is happening in a sovereign country could potentially strain people’s wallets at home.
At a time when Russia is pulling its military muscles on its western neighbor, President Biden asked on Tuesday: “Who, in the name of the Lord, is doing [President Vladimir] Does Putin think that gives him the right to declare new “so-called” countries in the territory belonging to his neighbors? “
Since Biden imposed financial and economic sanctions against Russia, the U.S. economy is also likely to be affected by inflation.
“This is something that should matter a lot,” Dr. Edward Lynch said; chairman of the Department of Political Science at Hollins University in Roanoke.
Lynch believes that Russia’s control over a large number of world oil and gas supplies will lead to higher pump prices.
“This will boost inflation in other areas at a time when inflation no longer needs fuel,” Lynch said.
The average gas price in Virginia is $ 3.40 a gallon, and it’s the highest for different fuels compared to a year ago. according to AAA.
“Protecting freedom will cost money,” said President Biden.
The invasion could also cause problems for American allies if Russia tries to regain other territories they lost thirty years ago when the Soviet Union collapsed.
“He is [Putin] it has made it very clear that he wants to bring this union back together, even if it means that these 15 independent republics no longer want to be part of it, he is quite ready to introduce them or introduce parts of them by force, “Lynch said.
Amid rising tensions between the Western and Eastern worlds, the White House is signaling that US troops will not be brought into Ukraine as the conflict is now.
“The president does not intend to send US troops to Ukraine to fight in Ukraine,” said White House spokeswoman Jen Psaki.
Contrary to Biden’s harsh sanctions, Lynch believes the president could have gone further and smashed all available sanctions to put pressure on Putin.
“So that the United States does not react by force, that is, undermine the position of the United States around the world and make all our allies less secure …” “Economic sanctions almost never work, they have not served well in the last decade or so,” he said, adding that China’s offer to help Russia financially could undermine Biden’s sanctions, which prevent them from borrowing from Western banks.