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Blockworks: Russia/Ukraine Crisis To Cause Commodity “Doom Loop”


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February 23, 2022 

Jacob Shapiro, Director of Geopolitical Analysis at Cognitive Investments and fellow at the Bush China Foundation, joins Forward Guidance on Blockworks to break down the rapidly escalating hostility between Russia and Ukraine. Shapiro puts in context including Russia’s recognition of Luhansk and Donestk as independent sovereign republics and the punitive sanctions on Russia. 

Shapiro tells Jack Farley that, if Russian tanks roll down the tanks of Kiev, the West might cut Russia off from the payment rails for global commerce, SWIFT (Society for Worldwide Interbank Financial Telecommunication). If Russia were unable to sell its natural gas, wheat, and other commodities in Western markets, Shapiro continues, there could be a commodity “doom loop” that would cause prices to skyrocket. 

Shapiro also shares his outlook on China, India, Brazil, Turkey, and Iran. Shapiro also serves as chief strategist at Perch Perspectives and the Geopolitics editor at Lykeion. This interview was recorded on Tuesday, February 22, at 10 am Eastern Time.

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Jacob Shapiro a is a fellow with the George H. W. Bush Foundation for U.S.-China Relations. The views expressed in this interview are solely those of the author and do not necessarily reflect the views of the George H. W. Bush Foundation for U.S. China Relations.