Russia’s full-scale invasion of Ukraine
2022.02.24
The full-scale invasion increased humanitarian harm and uncertainty over energy supply and trade.
The event marking the start of the full-scale invasion. No end of the war is represented.
Conditions at the time
Russia’s military action expanded amid already strained international relations and energy supply-demand conditions.
How events unfolded
The full-scale invasion began on 2/24, and the UN secretary-general demanded an end to military operations and withdrawal.
Stakeholders and impacts
Ukrainian citizens, both governments, neighboring countries and energy importers were affected.
Information available at the time
At the time, the UN expressed concern over violations of the UN Charter and humanitarian harm, announcing emergency assistance.
Findings confirmed later
The IEA subsequently explained that Russia’s supply reductions and Europe’s responses deepened the energy crisis.
Alternative interpretations and limitations
Distinguish the war’s humanitarian facts from price responses in particular assets; not every price change is attributed to the war alone.
Source-based context and interpretation
The IEA's follow-up attributed lower European gas demand in 2022 to weather, renewables, conservation and fuel switching, but also curtailed energy-intensive production. Adapting to lower Russian supply was not costless. Temporary and structural forces both contributed. ASSETCASTING interpretation: Assess household energy access and industrial output, not prices alone. Efficiency gains differ from factory curtailment in their implications for recovery. This energy analysis does not comprehensively measure humanitarian harm or all economic losses from the war.
Evidence coverage through 2023-03-14 · Sources checked 2026-10-14
Related events and periods1
- Pandemic shocks and large-scale policy support
An event or period whose recorded start falls within this editorial interval. This does not establish that it caused or represents the characteristics of the era, nor guarantee that the entire period falls within the interval.
Historical events do not guarantee future recurrence or investment performance.