"It's going to be real," Biden said at a news conference in Brussels. "The price of the sanctions is not just imposed upon Russia. It's imposed upon an awful lot of countries as well, including European countries and our country as well."

As Bloomberg observes, "Ukraine and Russia are both major producers of wheat, in particular, and Kyiv's government has already warned that the country's planting and harvest have been severely disrupted by the war."

And The Federalist's Sean Davis aptly summarizes where things stand...

"We're about to face massive energy and food shortages, and Biden's solution is to ban drilling and put expensive and inefficient solar panels and windmills on what's left of American farmland that hasn't been bought up by China or BlackRock," he wrote on Twitter.

Meanwhile, below are Biden's comments on China, coming after the formal NATO statement published Thursday: