After getting battered by the pandemic, supply chain chokeholds and leads in pricing the global economy is poised to be sent on yet another unpredictable course by an armed clash on Europe’s border.

Before the Kremlin ordered Russian troops into separatist territories of Ukraine on a Monday, the tension had taken a toll. The promise of punishing sanctions in return by President Biden and the potential for Russian retaliation had already pushed down stock returns and driven up gas prices.

An outright attack by Russian troops could cause dizzying spikes in energyand food prices, fuel inflation fears and spook investors, a combination that threatens investment and growth in economies around the world.

How does this affect you? As business owners you need to be aware if you will be paying more to get goods imported from foreign countries or not.