Biden is right this time.
Ukraine exported enormous amounts of grain. That goes out the window this year because of the war. There are going to be shortages.
That’s true, but we are having shortage too and he said we will export to Europe to make up for Ukraine. NO!
Wheat. Russia is #3.
https://en.wikipedia.org/wiki/List_of_countries_by_titanium_production
Titanium. Russia is #3.
https://en.wikipedia.org/wiki/List_of_countries_by_platinum_production
Platinum. Russia is #2.
Fertilizer. In some aspects, they are #1. It depends how you define things.
https://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_production
Gas. #2 in the world.
https://en.wikipedia.org/wiki/List_of_countries_by_oil_exports
Oil. They are #2 in the world as an exporter of oil
To think that you will hurt them without hurting yourself is foolish. We will hurt them more than they us, no doubt. However, we will also feel it. Titanium and platinum are important to the chemical and industrial complex, for machinery. Turbines for example use titanium in their blades. Platinum is used as a catalyst in various chemical processes, the best known being the catalytic converter on every car.
We will hurt them, but they are not stupid. They know we practice economic warfare. They have taken measures to immunize themselves from its effect. For example, some key technologies the Russians made sure to procure from nations that are more friendly to them and will not cut them off. Belarus is not party to the sanctions but a stout ally of Russia. It will be a backdoor for them to get what they need. BRICs (https://en.wikipedia.org/wiki/BRIC) is working, and India, China, nor Brazil want to isolate Russia.
https://www.vox.com/22982698/india-russia-ukraine-war-putin-modi
These sanctions will be far from airtight.