Smoke rises from a power plant after shelling outside the town of Schastia, near the eastern Ukraine city of Luhansk, on Feb. 22, 2022. (Aris Messinis/AFP via Getty Images / Getty Images)
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Ukraine-Russia crisis could push inflation to 10% if conflict escalates
- Escalating Russia-Ukraine crisis could push oil prices to $120 a barrel
- Russia is the world’s second-largest producer of both oil and natural gas
- Germany already halted the certification of the Nord Stream 2 gas pipeline from Russia, while the U.S. and the European Union have floated potential sanctions against Moscow
- American and European officials fear that Russia may retaliate against the sanctions by cutting off the supply of oil and natural gas that flows from Moscow to Europe, sending prices spiraling higher.
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