The White House said it has developed “specific sanctions packages” to strike at Russian elites who are “in or near the inner circle of the Kremlin,” should President Vladimir Putin order an invasion of Ukraine. While these moves would potentially cripple the Russian economy, they would also cause ripple effects across the globe, with more inflation, market crashes, and heightened energy risks.
And while analysts don’t think a Russian invasion of Ukraine is the base scenario at the moment, prolonged tensions will nevertheless have a big impact on markets.
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