May 23, 2022

MediaBizNet

Complete Australian News World

Harris: Americans will incur some costs from the Ukraine crisis with high rates of inflation in energy costs

Harris: Americans will incur some costs from the Ukraine crisis with high rates of inflation in energy costs

vice president Kamala Harris He warned that Americans may feel some “costs” from a Russian Invade UkraineUnwelcome news for many who are already bearing the costs of rising inflation.

“When America stands by the principles, and all the things we hold dear, sometimes it takes to put ourselves out there in a way that we may bear some cost.” Harris said Sunday After a meeting with NATO leaders in Germany.

The Russian-Ukrainian war could mean a global energy shock

Some of the costs hitting US pocketbooks “may relate to energy cost,” Harris said, with Russia being one of the world’s largest oil producers.

The vice president’s comments come at a time when Americans have already seen the price of public goods rise thanks to a Four decades of high inflationAccording to the consumer price index. These price increases were spread across nearly all common goods, including medical care, clothing, transportation, food, and shelter.

gas pump

gas pump. Americans have seen the highest prices at the pump in years. (AP Photo/Lynne Sladky, File/AP Newsroom)

But Harris stressed the need to counter Russia’s plans for invasion, saying there was a “real possibility of war” in Europe not seen since the end of World War II.

“We’re talking about the possibility of war in Europe,” Harris said. “I mean, let’s take a moment to understand the significance of what we’re talking about.”

“It’s been more than 70 years and during those 70 years… there was peace and security,” she said. “We are talking about the real possibility of war in Europe.”

READ  Germany in talks with Qatar on long-term gas supplies to reduce dependence on Russia

Get your FOX business on the go by clicking here

Harris

US Vice President Kamala Harris. (Evelyn Hockstein/Pool Photo via AP/AP Newsroom)

The administration has been warning for weeks that a Russian invasion of Ukraine could be imminent CBS . Reports On Sunday, US intelligence officials said Russian commanders had been ordered to go ahead with the invasion.

But the White House has not yet written off the possibility of a diplomatic solution to the crisis, with Biden planning a meeting with G7 leaders on Thursday to discuss the situation in Ukraine and a scheduled meeting between Secretary of State Anthony Blinken and Secretary of State. Russian Foreign Minister Sergey Lavrov in business this week