Damascus-SANA
The history of the United States is replete with the perseverance of its successive administrations to inflame conflicts and create pretexts to interfere in the affairs of countries in an attempt to achieve political gains and perpetuate the principle of unipolarity.
However, these interventions, the most recent of which were inflaming the situation in the Donbass region, southeast of Ukraine, cast dark shadows and negative repercussions on the global economy, in light of Washington's indifference to the losses that its economy was not spared from.
As soon as Russian President Vladimir Putin announced the start of the military operation to protect the residents of the Donbass region and stop NATO’s interventions and expansion towards the Russian borders, threatening the national security of the Russian Federation, the world set the rhythm of its political and economic clock on the impact of developments in Ukraine.
At a time when the American “JP Morgan” bank warned that any disruption of oil flows from Russia would lead to a rise in the price of a barrel of oil and reach $ 120, the American network “CNN” reported an analysis conducted by experts from the international consulting company “RMS”. He showed that the escalation in the Donbass region will threaten the US economy by raising inflation rates to a level that is the highest since 1981.
The expert of the international consulting company, Joe Brucellas, believes that Washington's intervention in fueling the situation in the Donbass will make it threatened with an inflation that has not been witnessed in 41 years, as oil prices will rise to the level of 110 dollars per barrel, explaining that the rise in oil prices by 20 percent will raise consumer prices in the United States by 2.8 percent. Over the next 12 months, which will, in turn, raise inflation above the 10 percent threshold, making heating the home and filling gasoline in the car more expensive, which will shock consumer confidence in addition to a decline in corporate investments.
The United States of America will not be the only one affected by the conflict in the Donbass region, where the world will pay the economic bill, especially European countries, and the repercussions will be reflected on the global economy in its various sectors such as oil, wheat, gas, minerals and others.
In the grain sector, its prices recorded record levels in the European trading sessions, as the price of a ton of wheat reached 344 euros per ton in the Eurotext group, which manages a number of European stock exchanges, which raised the fears of importing countries, especially that Russia and Ukraine are among the leading countries in this sector.
And the oil sector was no better off than grain, as Brent crude exceeded $105 a barrel, the first time since 2014, hours after the start of the Russian military operation, according to Reuters.
Brent crude prices rose $8.24, or 8.5 percent, to $105.08 a barrel, while West Texas Intermediate crude prices rose $7.78, or 8.5 percent, to $99.88 a barrel, amid a sharp decline in global stock markets.
In terms of metals, gold prices jumped yesterday by more than two percent to their highest level in more than a year, as gold in spot transactions rose by 1.7 percent to $ 1939.7 an ounce, after reaching its highest level since last January, while US gold futures increased by 1.8 percent. to $1,943.90 an ounce, according to Reuters.
As for other precious currencies, silver increased in spot transactions by 2.1 percent to $25.03 an ounce, and platinum rose one percent to $1,102.43 an ounce, while palladium rose 1.3 percent to $2514.54 an ounce.
The price of aluminum rose to 3382.50 dollars per ton, exceeding the previous record level of 3380.15 dollars, which was recorded in July 2008 during the global financial crisis.
“We see greater turmoil in the market,” with these words, a specialist in raw materials at Dutch bank ING Warren Patterson expressed his fear about the next stage, as he said: “In the coming days, we will see a greater strike in the market after several parties such as the United States and the European Union had previously Announcing sanctions on Russia in the coming days, with the escalation of tension over Kiev.”
Fahmy El Shaarawy and Alaa Koussa
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