So, after weeks of will he, won’t he, Russian President Vladimir Putin finally ordered troops into two regions of eastern Ukraine. After recognizing Luhansk and Donetsk as independent states earlier this week, Putin made an emotional and rambling televised address to the Russian people. Where this will lead no one knows. But it seems unlikely he will limit his actions now. As expected, the West has done relatively little apart from huff and puff. Germany said it will not certify the Nord Stream 2 pipeline from Russia. This action caught nobody by surprise.
Metal prices increase
Prices of key metals have surged in recent weeks, turbocharged above previous gains earned on the back of power shortages, energy costs, and Chinese environmental restrictions. Aluminum and nickel prices, in particular, have reached multi-year highs on fears sanctions will result in a breakdown in supply from Russia. Although Russia maintains a critical role in the supply of those two metals, particularly to the European market, other metals could also fall in short supply.
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