Putin’s War: How the World Is Reacting

Russia’s attack on Ukraine has shocked the world. Russia is being sanctioned, markets are plunging, and Europe is preparing for refugees.

• Vladimir Putin’s decision to let his military attack Ukrainian cities has led to horrified reactions in Western countries. The US, the UK and the EU are looking for sanctions to stop Russia.
• The EU declared sanctions were sure to “weaken Russia's economic base and its capacity to modernise”. Nobody knows however if that would be enough to lead to a a change of thinking in Moscow.
• US president Biden and his administration are leading the Western response. His popularity level is low so far. Now it might be his chance to present himself as a responsible leader.
• The EU and the UK are aiming for Putin’s inner circle, including oligarchs and companies doing business with the West. Even Putin himself might become a target of sanctions.
• Stock markets and businesses are in turmoil since investors fear a long period of uncertainty and rising prices for oil and gas. The Moscow stock index tanked and the ruble is under pressure.
• The energy sector is under close observation. With Russia being Europe’s most important vendor of gas, a disruption of supply could do tremendous harm to the world economy.