Marketplace

The average price for a gallon of gas in the United States is now more than $4. A lot of that price jump has to do with the surging cost of crude oil. With the U.S. and its allies discussing sanctions on Russian energy, we take a look at what it would mean to restrict one of the “last economic lifelines” for Russia’s economy and why the U.S. imports so much oil in the first place. Plus, the toll of war on Ukrainian students and a visit to San Francisco’s “Little Russia.” Give today to support Marketplace.

Bitcoin and other cryptocurrencies are relatively new, but they’re already changing the global economy. Ukraine is using cryptocurrency to fund its war efforts. We’re going to spend this month explaining how the crypto economy operates and answering all of the questions you might have been too afraid to ask. First, we’ll dig into the blockchain and bitcoin mining — no hard hat required. Plus: a great jobs report, the “London laundromat” and why the West still isn’t sanctioning Russian oil. Give today to support Marketplace.

Ukraine has become a hub for outsourced technology services over the past few years. That means the major tech companies that employ workers there are activating contingency plans to help keep those workers safe. Today, we’ll take a look at how some companies are responding when a part of their workforce is threatened by war. Also on today’s program: The job market appears to bounce back from omicron, investors flock to the security of the government bond market and Russian businesses in the U.S. struggle to retain patrons. Give today to support Marketplace.

A growing number of giant global businesses — including Apple, Shell, Ford and BP — are opting to divest from Russia in the wake of its invasion of Ukraine. That list also includes ExxonMobil, which manages and has a major stake in a Russian oil and gas project. Terminating those commitments will take time, cost billions and likely not change Vladimir Putin’s stance on Ukraine. We’ll also look at where OPEC+ oil is flowing, how a ban on Russian airlines will affect global aviation and what it means that the ruble is a free-floating currency. Plus: Federal Reserve chief Jerome Powell confirms the upcoming interest rate hike we’ve been expecting. Give today to support Marketplace.

Ukraine’s official Twitter account solicited donations in bitcoin and other online currency this weekend and reportedly received $20 million worth. Russians have also turned to cryptocurrency as an alternative to the plummeting ruble — and, potentially, a way for oligarchs to protect their wealth from sanctions. Plus: A look at the businesses that are divesting from Russia, and we delve into social media deplatforming Russia’s state media. Give today to support Marketplace.

The invasion of Ukraine and economic sanctions on Russia caused the ruble to tank on Monday, and everyday Russians are already starting to feel the pinch. The Russian Central Bank had already grown a rainy day fund of more than $600 billion in securities and reserves in foreign countries as a hedge against future sanctions. But the U.S. and its allies have frozen Russian assets and made them near-impossible to access. Also on today’s program, a look at why Russia’s valuable energy sector is evading sanctions, zooming in on Ukraine’s role in the global economy and explaining SWIFT, the global interbank messaging service. Give today to support Marketplace.

With Russia’s invasion of Ukraine came a new fleet of American sanctions against the oligarchs close to President Vladimir Putin. Cutting these barons of industry off from their billions involves untangling the web of shell companies and legal tricks they use to hide their wealth. Today, we look at the forensic accountants on the frontlines of U.S. sanctions. Plus, a look at Putin’s vast currency reserves and the quiet dread gripping New York City’s Little Ukraine.

The Russian invasion of Ukraine throws global trade, financial markets and domestic economies into great uncertainty. On today’s show, we consider the history that led to this moment and examine the upshot of the newest U.S. sanctions against Russia. Who ultimately bears that burden? And what might war in Europe mean for a global economy still grappling with damage done by the pandemic? Give today to support Marketplace.

We’ve talked quite a bit the past couple of days about the Ukraine conflict, sanctions against Russia and their impacts on the global economy. But it’s been six months since President Joe Biden withdrew troops from Afghanistan. American sanctions on the Taliban government are wreaking havoc, international aid has dried up and food insecurity is growing. Today, we check in on the state of humanitarian and economic crises currently playing out there. Also on the program: how home improvement stores are benefitting from the aging housing stock, and why more economic data doesn’t necessarily mean better economic forecasts.

Today, President Joe Biden announced that the U.S. would join the European Union in sanctioning Russia for its military actions in Ukraine. The restrictions are targeted but could push up grain prices and are stirring anxiety about global energy prices. Economic blowback, along with COVID-19, inflation and supply chain issues, amount to a “central banker’s ultimate nightmare.” We’ll explain. Plus: Why some apparel wholesalers are waiting to sell their inventory and how rising prices are affecting the service sector.

The United States has threatened Russia with “swift” and “severe” economic sanctions if the country further invades Ukraine. The unprecedented sanctions would target Russian financial institutions and potentially affect any company or individual with links to the Kremlin. Today, we’re joined by Marketplace’s London bureau chief, Stephen Beard, to hear about the global economic ripple effects — from inflation to an energy crisis — that trade restrictions on Russia could have. We’ll also look at the precarious existence of pandemic-era museums and hear how poachers are pushing some West Texas cactuses to extinction.

Bargain hunters be warned: It’s rough out there. Consumers are sensitive to inflation and searching for deals right now. But supply chain issues are producing scarcity and a willingness to pay a little more. Today, we look at the deals consumers can expect as companies aim to benefit from rising prices and increased retail sales. We also parse corporate performance metrics and break down the week’s biggest economic news with our panel of experts.

The economic gap between Americans with college degrees and those without has been growing for decades. That’s been driven in part by “degree inflation,” which puts millions with military, community college or on-the-job experience at a disadvantage, even in a tight labor market. Today, we hear from the nonprofits, companies and individuals trying to shrink that gap and prioritize skills over formal education. Plus: Permits point to a much-needed bump in home construction, the economy appears to be coping with COVID and a Brooklyn-based toymaker envisions the new Lego.

January’s retail numbers show that Americans are buying a lot. They’re purchasing furniture to make themselves more comfortable at home and are switching up that business-casual wardrobe for something more “business comfortable.” Even when accounting for inflation, there’s a boom in spending and demand — something the Federal Reserve is likely making note of as it eyes interest rate hikes. We’ll also examine the tiff over U.S.-China flights and why more students aren’t filling out the federal financial aid application.

It’s easy to remember the “before times,” but it’s a lot more challenging to envision the “after times.” Even if COVID-19 sticks with us forever, that doesn’t mean we’ll always be living in a pandemic. Today, we’ll dig into how exactly we can tell when the pandemic is behind us and what our norms, our economy and our lives might look like. Plus: Inflation hits oil and lumber, and the Great Resignation hits inflation.