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Reuters
Reuters
Business
Jan Strupczewski

Ukraine war shows 'end of globalisation as we know it' - EU's Gentiloni

FILE PHOTO: European Commissioner for Economy Paolo Gentiloni attends a news conference on the European Commission fiscal guidance for 2023, in Brussels, Belgium March 2, 2022. REUTERS/Yves Herman/File Photo

The war in Ukraine has shown the limitations of the decades-long German approach of seeking to change Russia through trade and spells the end of globalisation as we know it, the European Economic Commissioner Paolo Gentiloni said on Thursday.

Speaking at the Peterson Institute in Washington, Gentiloni said the Russian invasion of Ukraine on Feb. 24 would also reshape global alliances and put further strain on global supply chains, already fragile after two years of the pandemic.

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