Commentary On Feb. 24, a new war shocked Europe when Russia launched a major military campaign against her southern neighbor, Ukraine. The force Russia has mustered—ground troops estimated to be in the range of 190 000—implies that the aim of the invasion is to take all of Ukraine if not a major part of it. While the human suffering of war can be enormous, its economic consequences can also be dire. Effects consist of both direct economic effects and those caused by sanctions. What we see happening now is both military and economic escalation spreading more widely into other arenas, even social media and the world of sports.  Let’s look at some key areas and their likely impacts so far. Combined, Ukraine and Russia produce around a third of all the wheat exported globally. It should be no surprise that wheat prices have increased notably. Moreover, Russia produces a large share …