Russia Invades Ukraine: Impact on US Businesses
Industry Week
Feb. 24, 2022
Russia’s long-predicted invasion of its eastern neighbor began early on Feb. 24.
The following roundup of coverage will be updated as more information becomes available.
Russia attacked Ukraine from multiple fronts early Thursday, sending in troops, tanks, military aircraft, missiles and cyberattacks. U.S. and European governments responded by vowing to strengthen sanctions imposed early in the week as Russia prepared to invade.
The following are stories from various Endeavor Business Media (owner of IndustryWeek) publications, discussing aspects of the invasion and how they could impact businesses in the U.S.
Tech Export Ban
The U.S. Commerce Department banned exports of high-tech products to Russia in response to the invasion, a step intended to harm Russia’s ability to produce tanks, airplanes and other military equipment, reports Lightwave. Five European countries are expected to roll out similar bans.
Energy Pricing
Russia supplies massive quantities of oil and natural gas to Europe, so between sanctions from Western nations and uncertainty over the impact of the invasion is driving energy prices significantly higher, reports the Oil & Gas Journal.