Russia’s Economic Blackout Will Change the World - The Atlantic

…The immediate consequences are already breathtaking. On both sides of this new iron curtain, commodity prices are skyrocketing and economic indicators are falling. Oil is at all-time highs, and the Nasdaq is in bear territory. Nickel prices went vertical, and the ruble crashed by 50 percent. Wholesale energy prices in Europe have blown past historic records, and a European recession looks almost certain. Yesterday, the economist Mark Zandi put the odds of a U.S. recession this year at "one-in-three." …

https://www.theatlantic.com/newsletters/archive/2022/03/russia-economic-sanctions-wheat-oil/627004/