War in Ukraine

The war in Ukraine, ongoing since 2022, continues to be a major global concern. Recent news highlights its significant economic impact, including rising energy prices and inflation. The conflict has led to a 'new oil shock,' with prices of Brent crude, gasoline, diesel, and kerosene experiencing substantial increases. This is impacting economies worldwide, with France, for example, no longer considering the economic crisis as merely 'transitory.' In Russia, the economic downturn is evident in Moscow, where businesses are struggling. Diplomatically, efforts to find a resolution are ongoing. Ukrainian officials are urging China to play a 'critical' role in achieving peace. Discussions between US and Ukrainian negotiators are continuing, and while a meeting between Trump and Zelenskyy occurred in 2026, the current relevance is the continued call for the war to end. The conflict's impact on global markets and the search for a peaceful resolution remain highly significant.