This brief article provides a well-documented and concise overview of the war’s profound global effects, beginning with the combatants’ losses in lives and treasure. Beyond this it assesses the war’s impact on global trade and economy; energy and food price inflation and their effects on poverty, hunger, and mortality; the redirection of humanitarian and official development assistance; the total sum of aid to the Ukrainian war effort, and the estimated cost of postwar reconstruction and recovery. Also examined is the war’s effect on global defense spending.