Russia’s large-scale military invasion of Ukraine in February 2022, coupled with the severe financial sanctions imposed on Moscow, has generated profound economic consequences not only for Russia but also for the global economy, particularly the United States and Europe. Inflation triggered by the Ukraine crisis continues to affect major economies worldwide, fueled by sharp increases in energy prices—especially oil and gas—as well as industrial and agricultural commodities. Previous studies have sought to examine the economic ramifications of the 2022 Russia-Ukraine conflict on principal global actors, especially the United States and Europe, which have imposed stringent financial sanctions on Russia. Accordingly, the primary research question is: What has been the impact of the 2022 Russia-Ukraine war on the international economy, particularly on the United States and Europe? The research hypothesis posits that, given the political and military dimensions of the conflict, national leaders prioritized geopolitical objectives over economic considerations. These re-elevated economic issues—historically considered secondary policy concerns during the Cold War—to the forefront of high-level policy deliberations, resulting in economic stagnation and global price increases. A descriptive-analytical methodology has been employed to systematically analyze the data.