Analysts have calculated the losses for the world’s economies from the war.

Russia’s war against Ukraine has led to gigantic economic losses not only in Ukraine, but also in third countries.

In Ukraine alone, GDP losses will amount to about $120B by 2026, according to a study by the Kiel Institute for the World Economy (IfW Kiel). Ukraine will also lose means of production, such as equipment, machinery, and factories, worth almost $1T.

At the same time, losses incurred by third countries will reach $250B. Of this amount, $70B will fall to EU countries and from $15B to $20B to Germany alone.

“The calculations once again demonstrate how high the value of peace is, including in the economic plane, and what catastrophic consequences war on one’s own territory has in every sense,” said the head of the IfW Kiel, Moritz Schularik.

According to the IfW’s calculations, a war over Taiwan would lead to a loss of $2.2T in global GDP over five years, and $1.7T in the case of a war with Iran.