Russia-Ukraine War: Winners and Losers

The Russia-Ukraine War has considerable effects on a global scale, affecting numerous players, both state actors and non-state actors alike. This paper focuses on the main winners and losers of the conflict thus far.

Three weeks have passed since the start of the Russia-Ukraine War. While it is still early days and both escalation or de-escalation can still occur, this policy outlook aspires to highlight some of the opportunities and risks that have emerged in the last few weeks, with a view to drawing up a preliminary balance sheet of the geopolitical ‘winners’ and ‘losers’ thus far. Developing an exhaustive outlook at this juncture is extremely difficult and ultimately beyond the scope of this paper. However, situating developments in a broader context allows us to make some prognoses with regards to the main protagonists.

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