Ukraine—A Test of the Multilateral System

Russia’s invasion of Ukraine sent shockwaves through global markets, putting additional pressure on already-strained supply chains, with cascading impacts on energy, food, and economic security around the world. With countries still struggling to emerge from the global pandemic, the conflict has exacerbated inflationary trends and contributed to commodity price spikes affecting developed and developing countries—but carrying devastating and acute effects for the most vulnerable, most of whom reside in the Global South.

Not only have these complex and compounding impacts from conflict, COVID, and climate required an urgent and coordinated global response, they have also revealed fractures in the international community’s ability to respond to the crises and provide the level of support needed to safeguard economic and human security around the world. Global dynamics continue to test the capability and willingness of the multilateral institutions to meet the challenge, with the current circumstances presenting an opportunity for a reset.

Amid ongoing geopolitical and market instability, and on the occasion of the 77th Session of the UN General Assembly, Foreign Policy, in partnership with the Open Society Foundations, will bring together leading policymakers, development practitioners, and investors for a frank discussion on the fallout from the Russia-Ukraine crisis, and how the multilateral institutions can identify targeted strategies to quell the crisis and more effectively support the world’s most vulnerable.