In addition to all the destruction, suffering and horror for the people affected, Russia's invasion and war of aggression against Ukraine has also led to a profound instability of what is commonly understood as the world order. The annual CBEES State of the Region report provides an up-to-date overview of the multiple challenges facing the region and its countries today, both at the macro level and at the grassroots level, and provides an initial analysis of the implications for the future of the region.