Washington: Inflation Started Before the War in Ukraine

U.S. Treasury Secretary Janet Yellen acknowledged the impact of U.S. sanctions against Russia on the rising inflation rate in the United States and gasoline prices. During a seminar organized by the "New York Times" on Thursday, Yellen commented on the reasons for inflation in the U.S., stating that "the ban on insuring Russian oil may have an effect." She noted that prices were rising even before the events in Ukraine began, attributing it to the economic recovery following the COVID-19 pandemic. Yellen emphasized that "the sanctions imposed by the United States and the European Union have had a significant impact on Russia, and they will remain."