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Russia’s invasion of Ukraine still threatens global finance

The global financial system is at risk if we rely on friend-shoring to solve economic fights arising from the conflict

By

Nicolas Mackel

In just 12 months we have seen a painful spike in inflation and a huge surge in energy prices that has fed into the cost of the basic necessities
In just 12 months we have seen a painful spike in inflation and a huge surge in energy prices that has fed into the cost of the basic necessities Photo: Getty Images

Nicolas Mackel is the CEO of Luxembourg for Finance, the development body for the country's financial centre

As we mark the first anniversary of the Ukraine war, it is important to reflect on the suffering this war of aggression has wrought on our Ukrainian friends, and the inspiring courage they have shown. Beyond the destruction and human suffering, this tragic conflict has also had a long-term impact on the global economy.

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