Note by Fazal Rahman
Following article in Sputnik News reveals that the US is heavily dependent on Russia for import of uranium for the operation of its 56 nuclear power plants. US President Biden’s order on banning energy from Russia does not include uranium, one of the most important sources of energy in the US.
The US and European sanctions against Russia already are fueling inflation globally and increasing deprivations will be inflicted on overwhelming majority of people everywhere, including those in the US and Europe. Working and lower middle classes, as well as those on fixed incomes, will be hit the hardest. On the other hand, the businesses, corporations, and other owners of the means of production – the capitalist class – will reap the sinister benefits from these deprivations and hardships, as they will make additional fabulous profits from the higher prices and inflation. Political representatives of the capitalist class, ruling in the US and Europe, cannot be unaware of these facts. Under the crocodile tears for Ukraine, they are hatching all types of geopolitical, geo-economic, militarist, and profiteering schemes, which will victimize overwhelming majorities of peoples throughout the world, including those in their own countries, which are alienated, brain-washed, and brain-dead to such an extent that they are supporting these policies and actions, against their own interests. They may come to their senses when the reality starts hitting them harder.
Russia is the world’s top exporter of crude and oil products combined, at around 7 million barrels per day (bpd ) or 7% of global supply. Russia and Ukraine combine for nearly a third of the world’s wheat and barley exports. Ukraine also is a major supplier of corn and the global leader in sunflower oil, used in food processing. The war could reduce food supplies just when prices are at their highest levels since 2011. Russia is a major producer of palladium, which is used in automotive production, mobile phones and even dental fillings, according to the report. Russia produces about 6% of the world’s supply of aluminum, which saw its price spike to a record high on Monday in response to the sanctions. . The world’s largest country by land mass is also the world’s second largest producer of potash – a key ingredient for major crops which farmers rely on – after Canada. Some 45 percent of the European Union’s gas came from Russia in 2021, while Russia was also Europe’s largest supplier of oil at 27 percent, more than three times the next largest, Norway.
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