How War in Ukraine Threatens the World's Economic Russia-Ukraine Economy

The invasion of Ukraine it will change how the world economy operates for decades to come. Expect higher inflation, lower growth and some disruption to financial markets.

Ukraine and Russia combined account for nearly 30% of global wheat exports. The nearby Black Sea serves as a primary conduit for international grain shipments from Ukraine, and the country is also among the top exporters of barley, corn, and rapeseed. Russia and Ukraine are breadbaskets, exporting millions of tons of wheat to fragile economies in the Middle East,

including Egypt, Turkey, and Lebanon. On February 26, the EU, the U.S.A., and Canada announced that they had blocked selected Russian banks from SWIFT. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications, which sounds boring. But. It. Is. A. Huge. Deal. So, what will be the impact of SWIFT access blocked on Russia's economy?

And, what does all this mean for the global economy?... let's explore in today's video!