Neither will the end of the weekend’s attempted coup in Russia mean that peace likely break out in the imminent future. So don’t expect commodities prices to drop much.
The tumult in Russia this weekend won’t send prices for energy and food down much further, according to a recent report from Academy Securities.
The issue is that while the attempted on-off coup by mercenary force Wagner Group to oust Russian President has likely weakened Vladimir Putin. While that may speed up the path to peace, other things have changed dramatically over the last year and a half.
The Academy report states the following:
“We are probably the closest we’ve been to seeing a defined path to peace since the invasion occurred, but its impact on markets will be muted as the world has changed a lot in the past 18 months.”
Friday and Saturday it looked like the Wagner Group, a Russian mercenary group that was previously loyal to Putin, would attempt to take control, of Moscow using its military power.
