The Impact of Russia – Ukraine War on Global Economy

The invasion of Ukraine by Russia contributed to a notable rise in global prices of food and crude oil petroleum. The surge in the global food price index following the invasion was fueled by supply chain disruptions. In general, the incursion resulted in a continuous increase in inflation in both belligerent and non-belligerent nations. The following study shows how economic sanctions and regional conflict lead to an international energy crisis. Despite mediating countries like Turkey, it had a disastrous impact not only on geopolitical stability but also on economic development within and outside of Europe. The study used to assess the impact of Russia's invasion of Ukraine on global trade and business. This paper investigates the global economic growth and consequences of the Russia-Ukraine war over a four month period from December 2021 to March 2022. Russia invaded Ukraine on the 24th of February 2022.