The invasion of Ukraine by Russia opens a new strategic era with the return of high-intensity warfare in Europe and the engagement of a direct confrontation between authoritarian regimes and democracies.
It is also a major and lasting shock to the global economy.
On the one hand, stagflation sets in, characterized by the slowdown in activity and soaring prices.
On the other hand, after the disruption of supply chains caused by the Covid-19 epidemic, supply has been reduced by military operations and sanctions in key sectors: energy, strategic metals, but also agricultural products and inputs.
And, if the war remains concentrated in Europe, the food crisis is universal.
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War in Ukraine: which countries are threatened by disruptions in the wheat market?
The attack on Ukraine disrupts agricultural trade and compromises the food security of many countries.
Russia and Ukraine accounted for 29% of world wheat exports, 20% of corn and barley...
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