There will be “enormous” economic repercussions in the United States from Russia’s invasion of Ukraine in the near future, Treasury Secretary Janet Yellen said Wednesday.
Details: Yellen told the House Financial Services Committee that Russia’s invasion will impact global trade and the flow of food and energy.
- The repercussions will begin as the U.S. and European sanctions on Russia take shape, according to Fox Business.
- She said the ban on Russian oil imports will send energy prices skyrocketing, per Reuters.
What she said: “Russia’s actions represent an unacceptable affront to the rules-based, global order, and…