QVMS - Russia's War Against Ukraine Reshapes The Geopolitical And Economic Outlook

• Russia's invasion of Ukraine on 24 February has fundamentally changed the geopolitical landscape - with economic consequences.
• While the 2022 global growth rate represents a slowdown from 5.8% in 2021, the world economy has sufficient resilience to avert a recession.
• While Russia and Ukraine accounted for just 1.8% and 0.1%, respectively, of world GDP in 2021, the two countries play an outsized role in production of oil, natural gas, wheat, corn, sunflower oil, fertilizer, lumber, neon gas, aluminum, nickel, titanium, palladium, iron, and steel.

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