Russia-Ukraine War Worldwide Impacts

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In-Brief

• The Russian aggression against Ukraine is having a huge and varied impact across the globe. Regardless of how the war ends, the so-called World Order is going to look quite different.
• Russia’s invasion of the Ukraine has stalled because of the bravery and skills of the Ukrainian military, leaders, and people. They are magnificent. Also, Russia’s military has performed ineptly.
• The US and Europe have responded very strongly. The West’s reactions have been and will be political, financial, and economic, and are devastating for Russia and its oligarchs. In the end Putin will lose very badly, but further Western interventions are likely to be necessary to get Putin fully out of Ukraine. Biden was strong in early diplomacy but is now leading from behind.
• The US economy continues to be strong, as is its job market.
• World inflation is getting materially worse because of the war.
• High inflation badly hurts tens of millions of American families.