An invasion is still uncertain, but sanctions could affect everything from energy and food prices to the semiconductor industry.
Russia has built up its military force on its border with Ukraine and could invade the country “any day,” US defense department spokesperson John Kirby said Feb. 14. The US temporarily moved its embassy from the Ukrainian capital of Kyiv to the city of Lviv, on the Polish border.
Over the past two months Russia has amassed more than 130,000 troops on the Ukraine border, prompting US and European authorities to sound the alarm of an imminent attack. The last time Russia interfered in Ukraine was in 2014, when it annexed the Crimean peninsula, a conflict that is estimated to have cost 14,000 lives.
An attack on Ukraine by Russia would likely prompt harsh sanctions by the US and Europe, with the potential to rattle the global economy. In the meantime, uncertainty surrounding the geopolitical conflict is spooking financial markets.
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