WATCH: Biden warns of possible food shortages due to Russia-Ukraine war

The US on Thursday imposed fresh sanctions on Russia, targeting dozens of defense companies.

by OOVVUU

World26 March 2022 - 08:47

In Summary

•The United States and its allies have imposed several rounds of sanctions, including targeting the country's largest lenders and President Vladimir Putin.

•The official said the United States warned Putin that it would face swift and severe consequences if he invaded Ukraine and they have delivered on that threat.

President Biden has warned of possible food shortages because of the war.

We take a look at what to expect with Russia being a top exporter of wheat and Ukraine being the world’s largest exporter of sunflower seed oil.

The United States on Thursday imposed fresh sanctions on Russia, targeting dozens of Russian defense companies, hundreds of members of its parliament and the chief executive of the country's largest bank as Washington ramps up pressure on Moscow over its invasion of Ukraine.

The U.S. Treasury Department also issued guidance on its website warning that gold-related transactions involving Russia may be sanctionable by U.S. authorities in a move aimed at stopping Russia from evading sanctions.

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