Ukraine war is bringing new economic hardships and major world powers are caught in the crossfire

Ukraine war is bringing new economic hardships and major world powers are caught in the crossfire
·7 min read

When Russia invaded Ukraine in February, it didn’t just start a ground war in Europe — it opened up a worldwide economic war involving almost every major power. The West responded to the invasion by imposing sanctions and using the international financial system against Russia, hoping to bleed Moscow enough economically to come to terms. Instead, Russia dug in, doubling down on the decades-long strategy of weaponizing its energy sales to Europe while searching for new allies and buyers.