Mexico | The invasion of Ukraine will have negative consequences for the Mexican economy

Summary

The war that began in Ukraine a few days ago is, above all, a human tragedy in which thousands of people will lose their lives, including a large number of civilians. In addition, the conflict will also have significant effects on the global economy and, therefore, on the Mexican economy.

Key points

• Key points:
• So far, Western countries have imposed relevant economic sanctions on Russia.
• Yesterday the United States and the United Kingdom announced an embargo on Russian oil and gas exports.
• The sanctions will most likely imply an even greater contraction of the Russian economy this year than it experienced with the pandemic.
• At a global level, there will also be very relevant repercussions, which will be deeper the longer the conflict continues.

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