Many European businesses will be affected by the crisis in Ukraine, with CEOs of major companies already speaking out. Decline in tourism rates will also hurt the still-recovering European economy.
Export DeclineThe decline in value of Russian and Ukrainian currencies means that demand for European products will also fall. As a result, European exports to the east will drop.
Exposed BanksMany European banks have invested in Russia, and they will see the value of their assets decrease as a result of the Western sanctions.
Food PricesUkraine is a major exporter of wheat and sunflower oil, and the prices of such products are rising in the world market.