Russia invades Ukraine and commodity prices surge
What happened. Russia launched a military invasion of Ukraine on 24 February 2022. Global equities fell, Brent crude moved above US$100 a barrel for the first time since 2014, and western governments announced sanctions.
Why it matters for investors. The war raised energy, grain and metals prices and fed the inflation shock that drove central banks to tighten in 2022. Energy-importing economies such as India were exposed through the import bill and the rupee.
Event date: 24 Feb 2022. Source: United Nations; European Commission; Brent crude price data.
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