Transcripts for CNN CNN Newsroom With Poppy Harlow and Jim S

CNN CNN Newsroom With Poppy Harlow and Jim Sciutto February 23, 2022 15:36:00

cnn's matt egan joins me now. matt, we know consumers have been dealing with this problem even prior to these last few weeks of escalating tensions. what more is the president saying and what can be done? >> bianna, it all depends on how far russia goes into ukraine. this first volley of sanctions will probably not have a dramatic impact on u.s. consumers, but that could change in an instant. president biden laying out a whole bunch of penalties this week, penalizing two russian banks, russian elites, limiting moscow's ability to raise money from the west and working with germany to stop nord stream 2, the russian gas pipeline. that's more of a big deal, but that's more of an impact on european consumers. the united states does not rely on russia for natural gas, and we've actually maxed out our capability to send natural gas overseas even if we want to. even though the russian ambassador to the united states is warning that these first round of sanctions could have a

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