The Global Impact of the Russia/Ukraine War

🍞📈 Bread may soon cost more dough. India, the world’s second-biggest wheat producer, announced a ban on most wheat exports over the weekend as prices within the country spiked to record highs. G-7 leaders also warned of an increased risk for a global hunger crisis due to the war between Russia and Ukraine, which together account for ​​nearly a third of the world’s overall wheat supply.

🌍 NATO is inching closer to two new members. Sweden joined Finland yesterday in formally announcing it'll seek NATO membership after more than 200 years of being militarily “non-aligned." A spokesperson for Turkish President Recep Erdogan, who had expressed opposition to the move last Thursday, told Reuters over the weekend that: “We are not closing the door [on the applications].”

🚫🍔🍟 Goodbye, golden arches: McDonald’s is leaving Russia for good. The fast-food joint has begun to sell its ~850 restaurants in the country to a local buyer, citing the "humanitarian crisis" and "unpredictable operating environment" caused by the war. It expects to write off a ~$1.4 billion charge as a result.

• McDonald’s has long played a symbolic role in Russia – its first location opened 32 years ago in Moscow, months before the collapse of the Soviet Union. 
• Russia’s state-run TASS news agency reported yesterday that McDonald’s restaurants in the country will reopen under a different name soon.