Business and economic impact of the war in Ukraine

The effect of the war in Ukraine on business

Russia's invasion of Ukraine is a humanitarian tragedy. It is also disrupting business in those countries, in Europe, and around the globe.

Operating through volatility: Five pillars to manage business continuity

Accenture outlines how organizations can build an ongoing business continuity strategy and framework to adapt to volatility and current geopolitical risk.

Four areas of focus for finance and risk

Accenture outlines four main areas of focus for finance and risk resulting from the war in Ukraine.

From disruption to reinvention: The future of supply chains in Europe

Explore our research to see how European businesses can redesign their supply chains for resilience, relevance and sustainability.

How businesses can survive and thrive through high inflation

Accenture outlines the impact of inflation on business and how leaders can survive and thrive through a high inflation environment.

A moment of reckoning for the oil and gas industry

Accenture offers six priority actions to help oil and gas companies respond to the war in Ukraine.

Addressing the crisis and preparing for its impact

Accenture outlines the human, economic, and business impact of the war in Ukraine and guides organizations on how to adapt.

Video briefings

The economic and business impact of the war in Ukraine: World Economic Forum 2022 panel

World Economic Forum panel discusses the economic and business impact

The WEF Davos panel explores the economic and business impact that the war in Ukraine continues to have on supply chain networks.

View Transcript
Building supply chain resilience through visibility

How visibility can boost supply chain resilience

New research based on 30 supply chain executives found that visibility improves performance in times of disruption.

View Transcript
War in Ukraine: Actions for Utilities resiliency

How war in Ukraine impacts energy and utilities

Scott Tinkler covers the implications of war in Ukraine on utilities along with six actions to strengthen resiliency.

View Transcript
The impact on finance and risk

Four finance and risk responses to the war in Ukraine

Jason Dess examines four operational risks resulting from the war in Ukraine and what leaders can do in the short term.

View Transcript
The impact on oil and gas

The war in Ukraine: Six priorities for oil and gas

Muqsit Ashraf outlines three potential scenarios and six actions to help companies to respond to war in Ukraine.

View Transcript
The impact on global supply chains

Why Ukraine’s supply chain impact may surprise you

Kris Timmermans breaks down the impact of war in Ukraine on supply chains, revealing a few counterintuitive insights.

View Transcript
The Impact on Consumer Goods

Five questions for CPGs around the war in Ukraine

Oliver Wright covers the impacts of war in Ukraine on Consumer Goods, from energy costs to supply chain and food insecurity.

View Transcript
Operational Considerations

Ukraine: Two ways to promote operations resilience

Operations Lead Eloi Decottignies provides two steps businesses can take to drive continuity in light of war in Ukraine.

View Transcript
The next era of security & banking

How war in Ukraine affects security and banking

Michael Abbott and Valerie Abend discuss impacts of the war and reveal several themes around cyberthreats to the banking system.

View Transcript
War in Ukraine: Addressing the crisis and preparing for its impact

War in Ukraine: Addressing the crisis and preparing for its impact

Michael Brueckner, Accenture's European Growth and Strategy Lead on some of the consequences of the war in Ukraine. Click here for the latest data.

View Transcript


Our latest in-depth analysis and countermeasures.

How we help

Accenture is donating $5 million in cash to non-profit organizations as well as matching funds employees donated through an employee giving program, which has generated about $1.5 million.

Earlier in the year, Accenture sponsored an Academy for women refugees from Ukraine to help them build technology skills.

View All

Frequently asked questions

In only a few weeks, thousands of lives have been lost. More than 4.9 million refugees have fled Ukraine to date and at least 7.1 million people have been displaced within the country.1 The growing humanitarian crisis has led to an influx of public and private aid. On March 10, the US Congress, for example, approved US$13.6 billion in emergency spending for Ukraine.2 The E.U. has announced €10 billion (US$11 billion) in aid for Ukrainian refugees.3

1Ukraine Refugee Situation,” UNHCR (2022) as of April 18th 2022.

2Ukraine Supplemental Appropriations Act, 2022,” US government website (2022.); “Visualizing the $13.6 billion in US Spending on Ukraine,” The New York Times (2022).

3War in Ukraine: MEPs Unlock Emergency Funds for Refugees,” European Parliament (2022).

Not every company may be affected in the same way. Organizations that operate in Ukraine and Russia have been most immediately affected and are focused on the welfare of their people. For organizations outside the conflict zone, the focus has been on complying with sanctions, responding to supply chain disruptions and assessing the impact on customers. Different industries could also feel the war’s impact to different extents. High oil and gas prices, for example, mean energy-intensive manufacturing sectors may be most affected. In parallel, inflationary pressure may accelerate the rise of wage inflation in some countries and industries. The industries that could be most impacted by wage inflation are those in which labor represents a large part of their overall cost structure.

The current view among leading forecasters is that the war will lead to a material deceleration in growth. But the economic impact will vary widely by country and region. Compared to the US, Europe’s stronger trade linkages to Russia and heavier reliance on Russian energy imports make it more vulnerable to a growth slowdown. European countries with higher dependency on Russian oil and gas would be more significantly impacted. The US, meanwhile, would primarily be affected by higher oil prices and their knock-on effect on household wealth and consumer spending. Beyond Europe and the US, net oil and commodity importers like Japan and India would be affected by a sustained period of high oil and commodity prices. Emerging-market commodity importers in Asia and Africa would be particularly exposed to higher prices. These nations also would be affected more by the strain on food supply chains.

Stay in the know with our newsletter Stay in the know with our newsletter