Invasion of Ukraine, global sanctions against Russia, and economic consequences for Georgia
Monday, 18 April, 2022

On February 24th, 2022, Russia invaded Ukraine. This event not only marked the collapse of a painstakingly built global security architecture and destroyed the lives and livelihoods of millions of civilians in the heart of Europe, it also put the world on the brink of the largest nuclear, humanitarian, and ecological catastrophe since WWII. This brutal and unprovoked act of aggression on the part of an autocratic nuclear state against a peaceful, democratic neighbor resulted in an unprecedentedly swift and severe economic response from the developed world. Almost overnight, Russia became the most-sanctioned nation in the world, surpassing even Iran and North Korea in the number and extent of economic, financial, and technological sanctions.