Putin’s Ukraine invasion to blame for global inflation, says US President Biden

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In a tweet made from his official twitter handle on April 2, 2022, Saturday, President Biden held his Russian counterpart Vladimir Putin responsible for the invasion of Ukraine, blaming him for the resulting global spike in prices of different commodities, especially food supplies and gas.

The tweet was made to inform the citizens that the US govt. had decided to shell out 1 million barrels each day for the next six months from their strategic petroleum  reserves to counter the global spike in gas prices. The President seemed hopeful that the move would help in easing the steep rise in gas prices, predicting that the price could drop by  10 to 35 cents a gallon. He clearly expressed that more oil supply, and an alternative to Russia as the major oil supplier was needed. Furthermore,  the Pentagon has announced an additional aid of 300 Million USD to Ukraine in security assistance, totalling to a sum of 2.3 Billion USD since President Biden took office back in January.  Even with the news that could be considered a momentary relief to the common masses, more attention was placed on the one sentence in the tweet’s beginning, “Putin’s invasion of Ukraine has driven up gas and food prices all over the world.” With the current geopolitical scenario and the Russian invasion of Ukraine that acted as the potential trigger for the recent developments across the world, President Biden’s words hold significant weight going forward.

The sudden invasion of Ukraine by Russia, the NATO nations condemning and imposing sanctions on Russia as countermeasure and abandoning trade deals,  America being at the forefront by stopping the import of Russian crude oil and gas, but failing to sign a deal with the middle east to increase oil supply and other recent developments have resulted in the current scenario with gas and food commodities prices rising to their highest in the last decade or so.

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