US RESPONSE TO UKRAINE

USA RESPONSE TO UKRAINE

COMPANIES AID WAR CRISIS

As tensions between Russia and Ukraine worsen, many United States companies are beginning to withdraw their business from Russia. These e orts serve to weaken Russia’s economy and possibly deter Putin from continuing his invasion of Ukraine.

Large companies like Starbucks, Yum Brands, McDonald’s, Levi’s and many more have ceased operations in Russia. Other companies have taken a step further from ceasing ties to providing aide for Ukraine. Microsoft is currently helping cybersecurity o cials in Ukraine to fi ght against cyber-attacks from Russia. Another example is the clothing company H&M, which is giving clothes and other necessities to Ukraine along with donating to Save the Children and UNHCR.

A major topic of conversation amogst Americans has been the increase in gas prices from Biden’s ban on Russian oil imports. While Biden’s ban does contribute to gas prices, there are other factors infl uencing the skyrocketed price. According to the American Automobile Association, the average U.S. driver cut their driving in half during the pandemic, thus decreasing the demand for gas. Because of this decreased demand, OPEC and other major oil-producing companies cut their supply by 10 percent Unfortunately, OPEC did not start increasing production until July 2021, but they were already much behind demand. With production already trailing, Biden’s sanctions on Russian oil have only widened the gap between supply and demand.

Although troublesome for U.S. drivers, the Russian oil ban has taken away a major source of income from Russia, furthermore, aiding Ukraine in their struggle for peace. Information from fi nance.yahoo. Story by Lainee Kirk.

Because of nation-wide power outages, Elon Musk’s Starlink is off ering free satelitte based internet in Ukraine.

Airbnb is currently providing free housing for up to 100,000 Ukrainians

Etsy is waiving seller fees for Ukrainian sellers. Many sellers are donating percentages of their profi ts to Ukraine aide.