The Global Economic Impact of Russia’s War on Ukraine

The Russian invasion of Ukraine and the consequent response by the United States and European and other countries in the form of financial measures and sanctions against Russia, including cutting it off from the SWIFT system and freezing assets of its central bank will have systemic effects on Russia and the global economy. In Russia, there has been a sharp decline in asset prices and a crash in the value of the ruble, and GDP is expected to contract by 10-15 percent this year. However, the damage is not limited to Russia; increasing energy and food prices, and metal and grain shortages, are observed globally and impacting vulnerable nations and populations. In this session, we would like to explore what the stakes are for Turkey, Europe, and the United States as well as the global economy? How will the financial sanctions and measures against Russia impact its decision-making regarding its ongoing war in Ukraine? How could this crisis impact U.S. and European economic relations with China, which has expressed support for Russia, and could the greater tension between Beijing and the West lead to widened economic instability and increase the potential for economic warfare?
 
Please join us for this online event to discuss these questions and many more.

If you have any questions, please contact Ceylan Canbilek at [email protected].

This online event is part of the Trilateral Strategy Group initiative, which is undertaken by The German Marshall Fund of the United States in partnership with the Turkish Industry and Business Association (TÜSİAD), Koç Holding, and the Ministry for Foreign Affairs of Sweden. The aim of the Trilateral Strategy Group sessions is to address pressing issues affecting Turkey, the European Union, and the United States.