The sudden assault of Russia on Ukraine has left many bemused and is poised to have significant negative effects on global business. As a deterrent Western nation led by the United States have instituted swift and severe sanctions against Russia, which have further led to trade and supply chain disruptions.
The commodities markets have reacted negatively to this geopolitical instability. Russia is a major player in the commodities market for oil, natural gas, wheat and steel, and penalties aimed at the nation tends to have an adverse snowball effect on the global economy. Russia supplies nearly 10% of the world's oil needs and is one of the top 3 producers of oil behind the United States and Saudi Arabia. Europe relies on Russia for about a third of its total oil needs. With a ban on Russian oil in effect, the price of crude has risen to 14-year highs and led to supply disruptions. Global economies are feeling the pinch with devastating effects felt in developing economies, most especially in Africa.
Some analysts suggest that this could be the end of globalization, with countries and companies re-evaluating their needs and dependencies on others and a critical reanalysis of their manufacturing and production footprint.
The current effects of the war feel like the beginning of a potentially long debilitating dent on the global economy. This begs a discussion which Webster University is proud to lead. Specifically, this Masterclass will discuss:
1. The effects of the war on supply chain
2. The political risks associated with future trade and globalization efforts
3. The impact of the war on African economies
Please join us for this Business Masterclass.
Register in advance for this webinar:
Wednesday, April 13, 2022 at 5:30pm to 7:30pmVirtual Event