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We investigate the event-based geopolitical shocks from the Russian invasion of Ukraine on selected agricultural and energy commodities using daily event-based structural vector autoregression (SVAR). We find that the geopolitical shock affects the markets of wheat (3%) and European natural gas...
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In 2019, over 96% of EU27 oil needs, nearly 90% of natural gas and over 43% of solid fuels were met by net imports, with the largest share coming from Russia (35% of oil, 40% of natural gas and 20% of solid fuels consumed in EU27). The decline in the share of oil since 2016 was more than off-set...
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This report assesses the immediate impact of Russia’s war against the people of Ukraine on global financial markets …, and the continuing potential for spillovers into those markets. While the war has not yet caused a number of existing … reviews a range of interrelated channels which could transmit shocks from Russia’s war to global financial markets, from …
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