Opinion: The economic and business winners and losers in Putin’s year-old war against Ukraine

The reshaping of everything from energy markets to supply chains has created a bevy of winners and losers since Russian President Vladimir Putin launched his murderous invasion a year ago. Herewith, my list of who is up and who is down in the economic and business worlds as the war in Ukraine intensifies.for about half of its imported natural gas, a seemingly endless supply of cheap fuel that had helped turn Germany into a manufacturing powerhouse.

As part of their sanctions package, the European Union and the U.K. stopped importing seaborne Russian crude oil in December. Russia simply diverted its oil cargoes toand especially India. Problem solved? Not quite. As buyers of last resort, China and India are demanding – and getting – huge discounts. In recent months, Russia’s benchmark Urals crude has been selling at US$25 to US$35 below Brent crude, which is trading at about US$82 a barrel.

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