Russia’s invasion of Ukraine will cost the global economy $2.8 trillion in lost output by the end of next year—and even more if a severe winter leads to energy rationing in Europe—the Organization for Economic Cooperation and Development said Monday.
The estimate by the Paris-based club of advanced economies lays bare the magnitude of the economic fallout from Moscow’s invasion of its neighbor seven months ago, the biggest military conflict on the continent since World War II, as Russia’s attempts to redraw the map of Europe by force.
