First and foremost, Russia’s attack on Ukraine threatens a humanitarian crisis of catastrophic proportions. The conflict already has led to the loss of life and has the potential to displace millions of people.
As investors have been witnessing, war in Eastern Europe also poses financial risks. Sanctions on Russian oil would cause elevated crude prices and stoke inflationary fears at a time when consumers already face rising prices. It would make the job by central banks of fighting inflation even harder, and make the interest…
