Ukraine Invasion Impacting Supply Chain, Inflation
Russia’s invasion of Ukraine threatens to further disrupt global supply chains just as shipping delays were poised to improve, according to a recent report from Yahoo News.
Russia’s attack in late February sent oil prices surging, and energy costs are expected to remain high, making the transportation of goods much more expensive, while also having the potential to raise the costs of energy-intensive components like steel, cement and plastics. Shipping routes around the region must also be recalibrated, and more than 300,000 companies in the U.S. and Europe alone could see disruptions, the report said.
Ukraine is also the supplier for roughly half the world’s neon gas, which is used to manufacture semiconductors, according to Yahoo News.
Click here to read the full report.