Impact caused by the war between Russia and Ukraine:
1. Oil prices are rising
2. the instability of the currency
3. Trade disruption
4. geopolitical impact
Oil prices are volatile at this point. Yesterday, at one point Brent crude dropped to $72 per barrel, although it recovered slightly to $75 later. When the Russo-Ukrainian war started in 24th February 2022, Brent crude was trading at $90 per barrel, which means that it has lost 20% of its value since then. And all this has happened despite increased demand from China. And there is no "trade disruption". Simply there is a transformation in trade routes. India and China have replaced the EU as preferred trading partners for Russia.
Yes. it was also heavily impacted but If we pay attention to what is happening now, one of the main impacts is the imposition of economic sanctions on Russia where the international community has imposed economic sanctions on Russia in response to its actions in Ukraine.
It is undeniable that these Sanctions can have an impact on the Russian economy and its trade relations with other countries, which can have a ripple effect on the global economy. A war between Russia and Ukraine could have far-reaching effects on the world economy.
One more thing, the uncertainty of conflict resolution can also affect investor confidence and financial markets due to unresolved geopolitical tensions.
Russian economy still stands and has been trading with countries like India, China, and BRICS nations and they will have enough money. And while they are gaining rich lands from Ukraine.
They have been telling that sanctions will crumble Russia but it's not true anymore, after a year of this conflict, the sanctions are not affecting them.
One option is to make a deal with Russia and accept that it's the end of it and Ukraine has to make peace and be neutral to resolve the geopolitical tension which is also the root cause of this war.
Escalating this war to WW3 will be much more dangerous to EU. They can make war with smaller countries but not Russia.