As local and state economies were starting to emerge from the COVID-19 grip, the economic outlook was hit with supply chain issues due to the slow revival of the manufacturing sector and other related issues. In recent weeks, the Eastern European conflict has made the global economic forecast even more grim with certain sectors of the economy bearing the brunt of Russia’s invasion of Ukraine, with the global energy sector being the prime example.
As a retaliatory measure, global sanctions will not only serve as a detrimental blow but also have long-lasting impacts on Russia’s economy. However, the effects of the Russian economic downfall will likely also be felt at the global level for years to come.
In this article, we will take a closer look at the domestic and global ramifications, especially in the financial and energy markets, of the Eastern European conflict and the world’s retaliation.
municipalbonds.com
by ..Jayden Sangha
Mar 02, 2022