One Year Later:
The War in Ukraine

Saudi Arabia to Host Ukraine Peace Talks

Saudi Arabia is set to host Ukraine peace talks in the western coastal city of Jeddah in early August, a senior official told S&P Global Commodity on July 30. The move by the world's largest oil exporter could have a significant impact on the oil, grains and other commodities markets.

Russia-Ukraine Military Conflict: Key Takeaways From S&P Global Ratings

The Russia-Ukraine military conflict could have profound effects on macroeconomic prospects and credit conditions around the world. Leading up to, and during, the conflict, Western countries announced stringent sanctions on Russian entities and individuals.

U.S. Banks Face Deposit Outflows; Insurers Strive To Gauge Ukraine War Cost

Regulators' increased focus on Community Reinvestment Act compliance has trickled down to merger review and could explain why bank deals are facing closing delays, industry experts said. After three consecutive quarters of runoff, the industry is wrestling with additional declines in 2023 and funding costs that are likely to keep going up even after the Fed pauses interest rate hikes.

Insurers Unable To Tally Up True Cost Of Ukraine War

The insurance industry is struggling to gauge the cost of Russia's war with Ukraine a year after the conflict began. Exposures far removed from the war itself have been unearthed, while insurers are unable to count the cost of claims across their political risk, marine and aviation business lines. Those covered by the political violence market, such as physical damage to buildings, are also proving difficult to quantify.

Game Changer: Ukraine War to Transform Global Pig Iron Trade for Years to Come

The Russian invasion in Ukraine sent shockwaves to most commodities markets worldwide. With Ukraine and Russia accounting for around 60% of global merchant pig iron exports, the war has been a complete game changer for the global pig iron trade.

Metals And The Invasion: Russian Metals Face Shaky 2023 As China's Demand Cools

China stepped up as a willing trade partner to Russia when some major world economies turned away from the latter's products after the invasion of Ukraine, but Russia's ability to continue to move metals out of its borders will heavily depend on economic conditions in China through 2023.

Metals And The Invasion: Nornickel Loses Partners Amid War, Seeks New Suppliers

The world's largest producer of palladium and high-grade nickel will spend 2023 building new relationships after it lost access to capital and key logistics chains when Russia invaded Ukraine.

Metals And The Invasion: Rusal Outruns Sanctions, Plans Expansion

Russian aluminum giant United Co. Rusal IPJSC is looking ahead to expanding operations and selling its low-carbon product into China after booking an estimated 10.6% increase in net income in 2022, according to S&P Global Market Intelligence data.

Russia Reshaping Africa Energy Links After Ukraine Invasion

Russia's invasion of Ukraine has led to changes in its energy cooperation with African countries -- once touted as a priority target for future upstream investment abroad.

Western sanctions are making alternative energy partners and markets, including Africa, increasingly important for Russia.

US Increases Pressure On Russia With 200% Aluminum Tariff

The US will apply a 200% ad valorem tariff on imports of aluminum and derivative aluminum articles from Russia beginning on March 10 as it continues to increase pressure on Russia's economy in response to its continued invasion of Ukraine, the White House said Feb. 24.

Asia HSFO Market Likely To Garner Strength As Traders Shun Sanctioned Russian Oil

The Asian high sulfur fuel oil market is likely to strengthen, and quite significantly so, from prevailing levels as oil majors and trading giants begin to increasingly eschew Russian-origin oil, traders said.

Ukraine Rules Out Taking Part in New Russian Gas Transit Talks: Minister

Ukrainian energy minister German Galushchenko has ruled out the prospect of Kyiv taking part in any talks with Russia regarding arrangements for gas transit after the existing five-year agreement expires at the end of 2024.

Russian Oil Tanker Attacked in Black Sea Near Crimea

A Russian tanker carrying fuel oil was attacked in the Black Sea near Crimea on Aug. 5 in the latest escalation of hostilities impacting commodities infrastructure stemming from Moscow's invasion of Ukraine. Authorities said the Sig tanker was struck just outside the Kerch Strait, which connects the Black Sea and the Sea of Azov, separating Crimea and Russia's Taman peninsula.

Russia Could Still Impose Sanctions Against Ukraine's Naftogaz: Gazprom CEO

Russia could still impose sanctions against Naftogaz Ukrayiny that would render relations between the Ukrainian company and Russian entities "impossible", Gazprom CEO Alexei Miller said July 6.

Ukraine Says Russia Hits Grain Facilities in Danube River Port

Russia has damaged grain warehouses while conducting drone attacks July 24 at the river port of Reni on the Danube expanding its target area, Ukraine said.

Trends In Grains Market During Russian-Ukrainian War

The Russia-Ukraine war has had a significant impact on European countries. From the perspective of migration movements, Poland has received about 1.5 million refugees from Ukraine. Heavily dependent on Russian coal, gas, and oil, Europe is facing a major energy crisis. Laboriously rebuilt supply chains after the COVID-19 pandemic have been broken again and must be reorganized. The hostilities in Ukraine have also destabilized the global grain market.