Russia-Ukraine Crisis: Multidimensional Global Economic Impact

The current geopolitical conflict between Russia and Ukraine is creating a ripple effect across the globe. The conflict is weighing on global economies, with adverse ramifications for energy, commodities, and more. The longer the war lasts, the more unfavorable conditions would become for countries dependent on Russia and Ukraine for import of oil, commodities, and grains for consumption. Global inflation is inching higher, and there is a direct drag on growth from higher commodity prices and possibly a further drag from uncertainty.