The U.S. and allies have sanctioned Russian banks and its central bank, and so far the markets are not showing signs of strain. But it’s oil that strategists are watching, since it could drive inflation, affect the economy and affect Federal Reserve policy. “Whatever happens with oil will reverberate across all the other markets … even though the sanctions so far are not aimed at restricting oil,” said Daniel Yergin, vice chairman of IHS Markit. The heavy new round of sanctions on Russia by the U.S. and its allies are…
Read MoreOil prices could determine how markets react to Russia’s Ukraine invasion
