By Jarrett Renshaw
WASHINGTON (Reuters) -The White Home invited executives from an array of U.S. industries and corporations, which include electricity, food stuff, and financial institutions, to a briefing Monday on the Russia-Ukraine conflict, a White Home official claimed.
The White Property officers and Cabinet customers will explore provide chain troubles encompassing Russia’s Feb. 24 invasion of Ukraine and methods to reduce the economic shocks, a supply common with the strategy told Reuters.
The off-the-record briefing will be led by Countrywide Financial Council Director Brian Deese, countrywide stability adviser Jake Sullivan, Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo, the White House formal stated.
The assembly will contain associates from Sample Electricity, Invenergy, ExxonMobil Corp, ConocoPhillips, Visa Inc
President Joe Biden and his fellow Democrats have been pushing the chief executives of major oil providers to enhance creation amid rising charges at the fuel pumps.
Biden has blamed the latest spike on Russia’s invasion of Ukraine. The United States has imposed several rafts of sanctions on Russia over its attack, like an quick ban on Russian oil and other energy imports.
U.S. buyer charges, which include for rent and foodstuff, have also surged, and inflation is poised to speed up even additional as Russia’s war against Ukraine drives up the costs of crude oil and other commodities.
The conflict has added to the trade chaos that adopted the world economy’s emergence from COVID-19 pandemic lockdowns. Asia-Europe routes have been worst hit by difficulties, like acute port congestion and cargo disruption, owing to the closure of Russian airspace, a JPMorgan investigation showed.
(Reporting by Jarrett Renshaw Producing by Doina Chiacu Modifying by Alex Richardson, Kirsten Donovan and Jonathan Oatis)