Russia began attacking what it called military targets throughout Ukraine overnight – including in the capital Kyiv – after months of denials that it planned to invade its neighbor. It’s still unclear what has been destroyed or how many have died as terrified Ukrainians fled west. But what is clear is that the effects of President Vladimir Putin’s war will be felt by people across the world, including in the U.S.

“Americans may be tempted to view the war in Ukraine as an unfortunate, but far away, crisis,” writes William Hauk, an economist at the University of South Carolina. “I know the world is too connected for the U.S. to go unaffected.”

Beyond the geopolitical peril a conflict in Eastern Europe could bring, one of the most immediate effects Americans will see are rising prices at the pump and at grocery stores – which poses an even bigger risk to the U.S. economy, Hauk explains.

And earlier this morning we sent you a special newsletter with a selection of articles to help you better understand the causes of the conflict in Ukraine. You can see the breadth of our ongoing coverage here.

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A woman in Ukraine appears to pray as she waits for a train out of Kyiv. AP Photo/Emilio Morenatti

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Russia’s invasion will likely accelerate the fastest inflation in 40 years, increasing the risks for the overall US economy.

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