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The President of the United States of America, Joe Biden today gave some details from the consequences of the Russian attacks in Ukraine, while warning that the ongoing war will continue to “do damage” to the global economy.
“Look, we have made a lot of progress and we have a tremendous opportunity ahead of us, but we know that families are still struggling with higher prices.”said Biden.
According to CNN, Biden directly blamed Russian President Vladimir Putin as a “big reason for inflation.”
“The invasion of Ukraine has pushed up gas prices and food prices around the world. The two main wheat baskets in the world are Ukraine and Russia… What we saw in the latest inflation data was last month about 70% increase in inflation was due to Putin’s price increase, due to the impact on gas and energy prices ”he further added.
Biden said he was doing everything he could to lower prices, noting the release of gas from the Strategic Oil Reserves and its coordination with US allies and partners.
“The fact is that we are in a situation where the war in Ukraine will continue to affect the world economy. Will affect energy. It will take its toll on food… Many people are getting hurt. It makes a big difference, there is a big difference, the cost of a dozen eggs, the cost of a gallon of gasoline, matters “said Biden.
The war in Ukraine has affected rising prices in many countries, which are feeling the economic consequences.
Many countries have imposed sanctions on Russia, strongly condemning the aggression in Ukraine. The war has been going on for several weeks while the balance of consequences is getting heavier day by day.
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