Russia’s invasion of Ukraine is creating a “huge supply shock,” and it will impact world oil and food, World Bank President David Malpass warned.
World Bank President David Malpass, in a wide-ranging interview on ‘Cavuto: Coast-to-Coast,’ provides insight into the Russia-Ukraine conflict.
Malpass noted there are several operations underway by "very sophisticated" central banks, including Russia, to adjust to the sanctions. "What we've done is stopped all operations in Russia, also in Belarus… Is this having an impact on Russia? I think it's having an immense impact on Russia and on Russians -- both the sanctions, also the weakness in devaluation of the ruble -- these hit people hard."
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