Russian invasion

Russia and Ukraine together make up a small slice of the world economy and represent only a minor destination of exports for Europe or the U.S. However, Russia ...

At the London protests, many of those who gathered to denounce Russian aggression in Ukraine were visibly emotional as they waved banners and chanted. Yulia Tomashckuk, 29, wore sunglasses to shield her tears as she held a Ukrainian flag.

The forces will deploy in the coming days but won't be going to Ukraine, the president says.

Russian military forces are moving to decapitate the Ukrainian government in Kyiv, the Pentagon said.

He spoke on the condition of anonymity because he was not authorized to make those comments publicly. Russia has also used sea-launched missiles from warships in the Black Sea, the official said. A senior Defense Department official said that three lines of Russian troops and military forces were moving swiftly toward Ukrainian cities, with two of them headed toward Kyiv, the capital, and the government of President Volodymyr Zelensky. The forces are making their way toward Kyiv from Belarus in the north and Crimea in the south, using missiles and long range artillery, the official said.

The Russian attack on Ukraine could push up oil and food prices globally at a time of already-high inflation. In the U.S., it will drive up uncertainty.

“And we don’t know the extent to which they have burrowed into our systems.” Oil may be the major story when it comes to the inflationary effects of a Russian conflict, but it is not the only one. The conflict has already caused dizzying spikes in energy prices and is causing Europe to raise its military spending. Another risk to American economic activity may be underrated, Mr. Obstfeld said: the threat of cyberattack. Russia’s invasion on Ukraine has had a ripple effect across the globe, adding to the stock market’s woes. A major and immediate economic implication of a showdown in Eastern Europe ties back to oil and gas. And many of Ukraine’s growing regions for wheat and corn are near the Russian border. Ukraine is also a significant producer of barley and vegetable oil, which goes into many packaged foods. It is also the world’s largest wheat exporter, and is a major food supplier to Europe. “I don’t know when you want to start the clock on Ukraine becoming a major headline,” Mr. Sharif said. If the slowdown were to become severe, it could make it harder for the Federal Reserve, which is planning to raise interest rates in March, to decide how quickly and how aggressively to increase borrowing costs. Global unrest could also spook American consumers, prompting them to cut back on spending and other economic activity.

British and Dutch gas prices closed 40-60% higher on Thursday, along with gains in oil, European power and other commodities, after Russian forces launched ...

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