One of the big uncertainties of the global economy – and the Philippine economy – is the Ukraine War. The war has already helped to escalate the tightness of food and energy prices, further aiding inflationary forces in the world economy. The economic sanctions war. The side-effect of the invasion of Ukraine is the sanctions war, which the United States and its NATO and other allies have imposed on Russia for invading Ukraine. The arsenal of sanctions unleashed against Russia was designed to help cripple the Russian economy and its capacity to wage the war against Ukraine. Half of Russia’s $58…