How Ukraine Crisis Threatens Even Higher Oil, Gas and Food Costs
- West plans sanctions as Putin orders troops to breakaway zones
- Sanctions or conflict risk further raising prices of key goods
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Tensions over Ukraine are ratcheting up, with the prospect of sanctions on Russia threatening to further raise prices of commodities key to the global economy
After continued warnings from the U.S. and its allies that Vladimir Putin could be planning to invade Ukraine -- something he has repeatedly denied -- the Russian president officially recognized two self-proclaimed republics in eastern Ukraine and ordered what he called “peacekeeping forces” to go into the areas.