Market Views: How will G7 sanctions against Russia affect commodities?

Since the beginning of Russia’s war on Ukraine, the commodity markets have experienced high volatility due to the impact of sanctions on exports. Western sanctions on Russia have had global ramifications as both Russia and Ukraine export many commodities. Russia is the world’s largest exporter of wheat, pig iron, natural gas, and nickel, and accounts for a significant share of coal, crude oil, and refined aluminium exports. The European Union imports a substantial share of its e…