Lots of death and destruction in Ukraine. Human suffering and misery. A new refugee crisis because many Ukrainians, and probably Russians, will try to flee the conflict. I think that there won't be direct military intervention by other countries out of fear of escalation, but who knows. Certainly a lot of sanctions, and a lot of cold and exploding electricity bills ( Russian gas supplies will be cut off either by Russia for pressure or European countries as sanctions).

Also, the global oil and gas prices will increase, countries like Qatar will benefit from washing their image. Russia should be banned from Olympics and other sporting competitions ( the World cup comes to mind). And the stock market, especially in European countries, will dive a bit.