SPGlobal Trade relations Russia-Ukraine conflict will reinforce

S&P Global predicts that the ongoing conflict between Russia and Ukraine will continue to damage trade relations between the two countries. Since the conflict began in 2014, trade volumes have significantly decreased as both nations have imposed restrictions and trade barriers. S&P Global expects these trade restrictions to persist and intensify in the future due to the unresolved political and territorial disputes between the two countries. The conflict has also resulted in a loss of trust, making it difficult to rebuild trade relations. Russia's annexation of Crimea and support for separatist movements in eastern Ukraine have led to international sanctions, further impeding trade. Despite efforts to diversify trading partners, S&P Global anticipates that the conflict will have lasting consequences on the economies and trade relations of Russia and Ukraine.