Russia’s war against Ukraine will negatively affect the entire global economy.

 Russia’s war in Ukraine and unprecedented sanctions against Russia have already triggered a reduction in international trade and higher prices for energy and food, which are bound to have a negative impact on the prospects for the global economy, stated IMF Managing Director Kristalina Georgieva. “We went through a pandemic crisis, and now we are in an even more shocking environment – the unthinkable has happened, we have a war in Europe,” said the head of the IMF. She noted that the tragic impact of the hostilities in Ukraine and significant restrictions on Russia’s economy has already had a negative effect on the dynamics of international trade, and has led to higher energy prices, creating food shortage conditions.