Statsguru: A year later, effects of Russia-Ukraine war on global economy

European and Indian stocks are both higher today than when the conflict began

This week marks the completion of a year since Russia launched a military offensive against Ukraine on February 24, 2022.

There has been a reversal in the commodity market spike seen at the beginning of the conflict, which has so far claimed about 19,000 civilian lives and displaced millions. The war caused major disruptions in export of wheat from Russia and Ukraine — both countries accounted for about a fourth of the global wheat exports, besides other agricultural goods — and drove up food prices globally. The Food and Agriculture Organization Food Price Index climbed to its highest ever level