Dennis Jansen Shares on Rising Export Prices on KBTX
Mar 01, 2022
Summary: The rising prices of Russian export products due to the invasion of Ukraine was discussed by Dennis Jansen in an interview that aired on Friday, February 25, 2022 on KBTX news.
Russia is one of the world’s largest producers of oil, natural gas and wheat. In response to the current invasion, prices both at home and abroad have skyrocketed in these markets. “Locally, I think the problems here are the same as what’s happening in Texas – we, in our metropolitan statistical area, we actually have a bigger reliance on oil and gas prices than you might expect,” said Jansen.
In response to the invasion, the U.S. has imposed sanctions on Russia and Russian firms. “We will definitely impose sanctions on Russia to reduce their access to the U.S. dollar international payment system. The Fed have something called SWIFT, which allows global payments, so we can restrict Russian access to Swift. This will make it really hard for Russia, and Russian companies to deal with dollar transactions internationally, ” Jansen said.
Watch the full interview on KBTX news