How the Ukraine crisis is impacting inflation and net-zero goals

Since the Russian invasion of Ukraine, many countries have implemented financial sanctions such as refusing to purchase oil and gas from Russia. As a result, global demand for fossil fuels has surged, leading to increased inflation and slow growth. However, the supply demand has created some positives as the US is now positioned as a net primary energy exporter, which should lessen the economic impact. Further, the transition to net zero is expected to accelerate as Europe seeks alternatives to Russian fuel and reduces the reliance on fossil fuels in general.