Expert breaks down local economic impact of Russian attack on Ukraine

Top leaders also weigh in calling the invasion the worst since World War II
Published: Feb. 24, 2022 at 11:42 PM EST|Updated: Feb. 25, 2022 at 12:16 AM EST
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COLUMBUS, Ga. (WTVM) - Russia’s full-scale attack on Ukraine is the largest invasion of a neighboring country in Europe since World War II. A Ukrainian official tells CNN the Capitol City of Kyiv has been hit with a cruise or ballistic missile.

President Biden is meeting Thursday with his national security team and a virtual meeting with G-7 leaders. World leaders are already warning of a refugee crisis looming.

A lot of people may be asking, how does all of this affect us here at home?

With Russia’s invasion of Ukraine underway, many say the repercussions could have disastrous impacts.

“This is unprecedented,” said Georgia Congressman Sanford Bishop. “The violence that is expected, is perhaps going to be the worse since the end of World War II.”

Today, President Biden made it clear he will not be sending soldiers to Europe to fight in Ukraine.

“However U.S. troops are on the border with Ukraine,” said Auburn University Political Science lecturer Matthew Clary. “In Poland, we have about 6,000 U.S. troops. We have about 40-thousand in Germany, which is just on the other side of Poland.”

Clary said the U.S. could end up at war with Russia if the attack spills over into The North Atlantic Treaty Organization’s (NATO) allied countries around Ukraine.

During a press briefing today, NATO’s Secretary General said they have sent thousands more troops, ships and planes over the last week to the area.

A financial expert weighed in about economic impacts this conflict is having on the Chattahoochee Valley.

“We were already in an environment with high inflation and with Russia’s invasion of Ukraine, it put some of the energy resources at risk,” said Tyler Townsend, managing partner for Townsend Wealth Management.

Townsend said the disruption in Ukraine is driving up energy prices because it’s decreasing the supply that’s available worldwide.

“We’re likely to see even higher prices at the gas pump in the next maybe week or so,” explained Townsend.

Townsend adds, President Biden’s sanctions on four large Russian banks could eventually impact interest rates at local banks.

But ultimately, Townsend says there’s no need to panic.

“The best thing to do right now is to do nothing that you weren’t planning to do already,” said Townsend.

News Leader 9 also spoke with Councilman Pop Barnes, who served in the army for 20 years. He says he supports whatever the commander-in-chief President Joe Biden has done so far.

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