It’s been over a year since Russian tanks and troops rolled into Ukraine, following roughly seven years of stalemated negotiations between the two separatist republics in the Donbass, Ukraine, and the two European mediators, France and Germany, in Minsk. Russian President Vladimir Putin cited the Minsk Accords’ failure, as giving Russia the excuse to level much of what was once Ukraine’s manufacturing heartland. Their economy, already on IMF life support, is in ruins. As we are told, the Ukraine war is a European war. East Ukraine’s smoldering demise is somewhat symbolic of what is happening in Europe. There is a lot of heat under the surface of the soil. And in the right conditions, these things can lead to big brush fires. European investors beware.
Other than the obvious war-torn doldrums hitting Ukraine’s economy, and the economic impacts of sanctions against Russia, the war’s biggest real economy impacts are being felt throughout Europe.
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