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PRICE HIKES EXPECTED IN RUSSIAN INVASION OF UKRAINE
CHRISTOPHER SMITH christopher.smith@eap.on.ca
The world’s economies may see fluctuations in the coming weeks as Russia’s invasion of Ukraine results in sanctions from Canada, the U.S., and other countries. Prime Minister Justin Trudeau and United States President Joe Biden have both announced sanctions against Russia in response to its “horrific” attack on Ukraine. Russia launched a large-scale invasion of Ukraine on February 24, escalating the Rus- TP6LSBJOJBO8BSBOENBSLJOH UIF MBSHFTU DPOWFOUJPOBMXBSGBSFPQFSBUJPO JO&VSPQF TJODF8PSME8BS **5IPVHI UIFDPOáJDU JT still ongoing, and the death toll continues to rise, economists are already predicting BMBSHFJNQBDUPOFDPOPNJFTJOUIF8FTU 3VTTJBTVQQMJFTBCPVUQFSDFOUPG the world’s supply of crude oil every day. Among other repercussions, Russian Pres- ident Vladimir Putin has threatened to cut off this supply in response to the sanctions, something Canada would be unable to cover. According to Toronto-based investment firm, /JOFQPJOU QJQFMJOFBOEFYQPSUDBQBDJUZGPS oil and natural gas are already stretched to their limits. 0OUIFUPQJDPG$BOBEBFYQPSUJOHNPSF oil to fill the gap left by the Russian supply, /JOFQPJOUQBSUOFSBOEQPSUGPMJPNBOBHFS &SJD/VUUBMMTUBUFE i5IBUTBOJNQPTTJCJMJUZu /PSUI"NFSJDBTEFDJTJPO UP MJNJUQJQFMJOF FYQBOTJPOTIBWFMJNJUFEJUTBCJMJUZUPNPWF DSVEFPJM PCTFSWFE/VUUBMM UPUIFQPJOUXIFSF both Canada and the U.S. still import oil from overseas. According to the Canadian Association of Petroleum Producers, Canada JNQPSUTBSPVOENJMMJPOPG3VTTJBO crude oil a year, most of which goes to &BTUFSO$BOBEB 5IFVODFSUBJOUZTVSSPVOEJOHUIFDPOáJDU has already pushed oil prices to around QFSCBSSFM CVUJGUIFDPOáJDUDPOUJOVFT the global economy will slow down, and oil
Les économies mondiales pourraient connaître des fluctuations au cours des prochaines semaines, l’invasion de l’Ukraine par la Russie entraînant des sanctions de la part du Canada et des États-Unis. —photo Christopher Smith
prices will plummet. i/PPOFTIPVMECFHJEEZBCPVUPJM uTBJE #BSSZ4DIXBSU[ DIJFGJOWFTUNFOUPGàDFSBU Baskin Financial. “It’s possible that oil prices continue to rise as world events continue to be uncertain, but ultimately if [the] invasion continues, if it worsens, the economies around the world are going to slow drama- tically and that is a terrible scenario for oil.” Aside from oil, global food markets will also take a hit. Ukraine and Russia are both major crop suppliers, growing a combined 25 per cent of the world’s wheat. Russian naval manoeuvres are putting Ukraine’s ports BUSJTLPGTIVUUJOHEPXO NFBOJOH&VSPQFBO markets are going to look elsewhere for XIFBU"TBNBKPSHSBJOFYQPSUFS $BOBEB will be one of their first stops, meaning a
further rise in price in domestic markets. 8IFBUQSJDFTIBWFBMSFBEZSJTFOCZQFS cent in the past month. Higher food and energy prices have been ESJWJOH JOáBUJPOVQ UPNVMUJEFDBEFIJHIT FWFOXJUIPVUUIFDPOáJDU8JUIUIFTVEEFO outbreak of war in Ukraine, Desjardins economist Royce Mendes says plans have DIBOHFE5IF#BOLPG$BOBEBJTFYQFDUFE to raise its benchmark rate by at least a RVBSUFSPGBQFSDFOUBHFUIJT8FEOFTEBZ “Rock bottom interest rates seem incon- TJTUFOU XJUI FMFWBUFE MFWFMT PG JOáBUJPO TPXFFYQFDU UIFOPSNBMJ[BUJPOQSPDFTT
GPS JOUFSFTU SBUFT UPCFHJO JO UIFOFYU GFX weeks and actually continue at least gra- dually throughout the year,” Mendes said. i"DPOáJDU UIBUDBOTFFNTP GBSBXBZBU times for many Canadians might hit home in terms of the prices they’re paying for FWFSZEBZHPPET8FTIPVMEFYQFDUUIBUXFSF going to see higher prices at the pump and potentially higher prices at the grocery store BTBSFTVMUPGUIJTDPOáJDUu /PUFWFOTVEEFONJMJUBSZDPOáJDUJO&VSPQF XJMMEFWJBUFGSPNQMBOTUPDVSCJOáBUJPO CVU Canadians should brace for uncertainty both abroad and at home.
VÉHICULE VOLÉ À SAINT-ISIDORE
e e us remerci
e e e e Our 9 th Annual Richard Kargus Men’s Bonspiel recently took place at the Russell Curling Club. For our 2022 tournament, here are our sponsors. Le 9 e tournoi annuel de curling Richard Kargus, pour hommes, s’est tenu récemment au Club de curling Russell. Pour notre tournoi de l’année 2022, voici nos commandites : GOLD SPONSORS - COMMANDITAIRES OR Russell Foodland, Verdun Windows & Doors, Thompson Boiler Works Inc. Brasserie Tuque de Broue Brewery Inc., RocheBanyan - Robert Théroux SILVER SPONSORS - COMMANDITAIRES ARGENT BRONZE SPONSORS - COMMANDITAIRES BRONZE
Police are searching for a white 2012 BMW X1, with Ontario license plates BZSD639 —supplied photo
CHRISTOPHER SMITH christopher.smith@eap.on.ca
La Police provinciale de l’Ontario demande à toute personne ayant des renseignements ou des images de surveillance du secteur au moment des incidents d’en informer la Police provinciale de Hawkesbury au 4JWPVTTPVIBJUF[HBSEFS MBOPOZNBU WPVTQPVWF[BQQFMFSDIFDBV DSJNFBV 5*14 PVTPV - mettre votre information en ligne à www. ontariocrimestoppers.ca. Échec au crime OFWFVUQBTWPUSFOPN WPVTOBVSF[QBTÆ DPNQBSBÏUSFFODPVSFUWPVTQPVSSJF[HBHOFS une récompense en argent.
La Police provinciale de l’Ontario (OPP) enquête sur un véhicule volé sur le ter- rain d’une résidence de Saint-Isidore. Le véhicule a été volé sur le terrain d’une résidence du chemin Mainville à Saint-Isi- EPSF EBOTMBNVOJDJQBMJUÊEF-B/BUJPO FOUSF 8 h 15 et 8 h 45, le 23 février. Le véhicule FTUEÊDSJUDPNNFÊUBOUVOF#.89 blanche, portant les plaques d’immatricu- lation de l’Ontario BZSD639.
7KDQN\RXWRRXUPDQ\VXSSRUWHUVDQG IULHQGVRIWKHERQVSLHO
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