Impact of the Ukrainian War on the Global Economy The Ukrainian War, which began in February 2022, has had a significant impact on the global economy. This conflict not only has a direct impact on Ukraine, but also affects various sectors around the world. One of the most striking effects is the rise in energy prices. Ukraine and Russia are major producers of oil and natural gas, so disruptions in energy supplies impact price stability. European countries, which depend on Russian gas, have seen price spikes resulting in inflation and an increase in the cost of living. Apart from that, the global agricultural sector is also feeling the impact. Ukraine is known as the “grain granary of the world.” The uncertainty resulting from this war led to a decline in exports of wheat and other agricultural products, potentially disrupting food supplies in import-dependent countries. Countries in Africa and the Middle East felt the most significant impact, as many depend on food supplies from Ukraine. The wider economic impact comes in the form of disrupted supply chains. Companies around the world are facing challenges in getting the necessary raw materials, causing production delays. This raw materials crisis is driving inflation further and creating great economic uncertainty in many countries. The financial sector was also significantly affected. Geopolitical uncertainty increases investment risks, so many investors choose to withdraw capital from markets that are considered high risk. Additionally, economic sanctions imposed against Russia limit the country’s access to the global financial system, resulting in long-term impacts on the Russian economy and countries with which Russia has close trade relations. Central banks around the world, including the US Federal Reserve, are more likely to increase interest rates to tackle high inflation. This tight monetary policy has the potential to slow economic growth, especially in developing countries, which are already struggling with debt risks and rising inflationary pressures. The technology and manufacturing sectors were also not spared from the impact of the war. Many technology companies face difficulties in sourcing components from Russia and Ukraine, which contributes to increasing production costs. Meanwhile, multinational companies are starting to rethink their supply chain strategies, looking for alternatives outside these two countries to reduce future risks. Overall, the impact of the Ukraine war on the global economy is complex and layered. From rising inflation, food supply uncertainty, to supply chain disruptions, every aspect creates a domino effect that affects economic growth in various countries. As the conflict continues, these impacts have the potential to become more widespread, making global economic development more vulnerable in the years to come.