The world is paying a high price for Russia’s war of aggression against Ukraine. The high humanitarian cost continues to grow and the global economic outlook has darkened further. This Interim Report focuses on the effects of the war on the world economy and the energy crisis. With the impacts of the COVID-19 pandemic still lingering, the war is dragging down growth more than anticipated. Inflation has intensified and become widespread across countries and consumer items. The risk of energy disruptions has risen.