This conflict will likely hit the European Union the hardest. Russia was the largest supplier of oil and natural gas in 2021 to the European Union, and it is one of Europe's largest suppliers of agricultural commodities. However, the E.U. released an official statement of restrictive measures taken against Russia, which includes provisions such as banning transactions with the Russian Central Bank and supplying arms and resources to Ukraine. Although there is no outright sanction on oil, the breakdown of diplomacy, nonetheless, puts European nations at significant risk for panic purchasing, soaring costs and consequent decreases in demand, and product shortages.

With the global supply chain in turmoil, companies must look for ways to develop greater visibility into their logistics operations. It is, thus, crucial for businesses to adopt technological solutions that can help improve every step of the supply chain during the ongoing disruptions.