Putin’s invasion of Ukraine is a decisive event with major implications, initially humanitarian and subsequently economic. It caught the vast majority of western observers off guard – including asset managers like us.
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![Oil refinery Finland. Credits: Carlos "Grury" Santos / Unsplash](https://images.investmentofficer.com/cdn/ff/z7gfGi--hLqn6M3c-mcg3sluahSkctIkN_0H1WYFlfo/1774357697/public/styles/thumbnail/public/2026-03/carlos-grury-santos-Me4Vgoi9Gd8-unsplash.jpg?itok=Ojyen-Qi "Oil refinery Finland. Credits: Carlos "Grury" Santos / Unsplash")
