Russia’s invasion of Ukraine—and the associated sanctions—interrupted the COVID-19 pandemic recovery in Central and West Asia. The resulting supply chain disruptions and surging inflation have undermined business in the region, particularly for smaller firms. Yet impacts have differed creating two distinct groups of countries: those with limited impact but increased business opportunities and those where the spillovers from the invasion have left businesses struggling. The seminar will discuss key findings from the business surveys conducted in seven Central and West Asian countries and explore needed policy actions.