Russia provides Europe with 38% of natural gas and 27% of crude oil demand
Germany, the largest European importer of Russian energy, has shuttered its nuclear facilities
Replacement energy will be primarily sourced from Qatar and the United States
Energy used as a part of economic warfare
Increased
Energy Costs
Ukraine and Russia comprise 25% of worldwide wheat exports
Russia has halted fertilizers from February through April—for which they provide 13% of the global total
Increased
Food Costs
Ukraine and Russia are the main providers of wheat to unstable regions such as Lebanon & Turkey
Estimated 5 million possible migrants
Third-Party
Damage
Russia exports 25-30% of the annual palladium, a precious metal used in cars
Russia controls 10% of global copper, a powerful electrical conductor reserve
Increased
Metals Cost
Higher energy prices could worsen inflation
Russia’s removal from SWIFT and Western markets motivates trade in non-dollar currencies
Weakening of
U.S. Dollar
Dow Jones volatility
Russian stock market lost more than 30% of its value
Conflict disproportionately impacts the energy, food, and tech sectors
Incentive to move toward alternative currencies
Economic
Instability
