This Saturday 24 February 2024 marks the second anniversary of Russia’s unprovoked invasion of Ukraine. Along with the human suffering and displacement, war has scarred Ukraine’s economy.
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Ukraine has suffered most from Russia’s illegal war of aggression launched a year ago. Besides the humanitarian emergency, the war Russia started has been catastrophic for the Ukrainian economy.
In just over two months, the Russia’s war has caused severe economic dislocation in many areas. We assess possible economic impacts of the Ukraine invasion on Russia and the euro area.
In the early morning of February 24 Russian military invaded Ukraine. This violation of international law will result in widespread human suffering and economic dislocation.
Adaptation to changing circumstances has been one of the hallmarks of the Unit’s – the Bank of Finland Institute for Emerging Economies (BOFIT) – work.