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How Putin’s war increased theft of car parts
Russia’s war in Ukraine has had a global impact, causing global food shortages, an increase in refugees and skyrocketing energy prices. But it's also responsible for a rise in one type of petty crime in the United States? Thieves have been stealing catalytic converters or CATs, which help reduce toxic fumes from vehicles.
Why? Because they're made with palladium, of which the Russians control 40% of the global supply.
And it's not just palladium. Prices of many precious metals have jumped since the invasion.
Meanwhile, things have gotten so bad in America that CAT thefts are on the rise. And you know whom to blame for that.
Watch the GZERO World episode:Explaining inflation & what's next for the US economy
The Graphic Truth: Russia's war makes metals (more) precious
Russia’s war in Ukraine — and subsequent Western sanctions — are making commodity prices soar. Precious metals are also getting more expensive because Russia provides much of the world’s supply. We look at how the prices of palladium, platinum, and nickel have fared since the start of the year.