Global trade has suffered dramatically due to the Russia–Ukraine war, which has led to significant disruptions and trade diversions. Due to supply chain disruptions caused by the war, numerous industries worldwide are experiencing shortages and bottlenecks. Russia and Ukraine are important providers of raw materials, including metals, fertilizers, and neon gas for semiconductors, which are used extensively in manufacturing and production worldwide. Gas and oil exports from Russia are substantial. Energy prices have experienced significant price hikes and volatility due to the war and the sanctions. Raising food prices resulted from the war’s substantial effects on the region’s exports of grains and fertilizers to the world market. This has increased the likelihood of food insecurity and shortages, particularly in developing countries that depend largely on imports. Countries are looking for alternate suppliers of necessities to lessen the inconveniences. As a result, commerce has shifted, with nations like Brazil, India, and others raising their export levels to compensate for the trade deficit Russia and Ukraine created. The objective of the current study is to analyse how trade diversion helped developed, emerging, and transitional economies manage the effects of conflict on their exports and imports in the global merchandise trade.