The cost of various commodities is rising at the beginning of the week, as new Western sanctions against Russia increase the likelihood of supply disruptions. In particular, wheat has risen in price to the highest level in 13 years, the price of aluminum has reached a record. Gold, which acts as a «safe haven asset» at a time of increasing international tensions, is also growing. Experts note that in the near future the situation on the raw materials market will only worsen, since the leaders of the G7 countries have decided to disconnect some Russian banks from the SWIFT international payment system, as well as introduce restrictive measures against the international reserves of the Central Bank of the Russian Federation. And although metals and agricultural goods are not in the field of view of Western politicians, prices are rising due to investors' concern about the likelihood of a sharp drop in payments to suppliers and a further reduction in financing for purchases of Russian goods. It is worth noting that Russia and Ukraine together account for a quarter of world wheat exports and a fifth of corn sales. Russia is also a major supplier of aluminum, nickel, palladium, oil and gas. In addition, insurers either refuse to provide insurance for ships entering the Black Sea, or demand huge premiums for this. Ports in Ukraine are closed, and some exporters refuse to conclude contracts because they do not know whether they will be able to fulfill them due to the unclear development of the situation.
