On the military front, while events remain in flux, the Russian advance has proceeded more slowly than had been anticipated. Kyiv, seemingly Russia’s main target, remains under the control of Ukraine’s government. Russia and Ukraine have agreed to peace talks in Belarus, which according to the Belarusian government are scheduled to start later today. But President Putin has also put Russia’s nuclear forces on “high alert” in response to an escalation in Western sanctions. The range of potential outcomes remains extremely wide, which, as we argued last week means it’s better to think in terms of scenarios and then consider the macro and market consequences than it is to take strong positions on the likely end-game.
In view of the wider interest, we are making this Global Economics Update available to all clients.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services