Reflections of the Ukraine-Russia War on World Trade and Supply Chain and Examination of Its Effects on Turkey

Abstract

Russia launched the Russia-Ukraine war by launching an armed attack on Ukraine on February 24, 2022. In response to international attacks on Ukraine, serious sanctions were imposed on Russia. Although the imposed sanctions targeted the Russian economy, they deeply affected the whole world, especially Europe, with the disruption of the global supply chain. This war caused an increase in energy, commodity, and food prices as well as increased inflation in many countries. In this study, the effects of the Russia-Ukraine war on Turkey's imports, exports, and supply chains were revealed through literature review. Extreme increases in commodity prices due to the war damaged the purchasing power of households. On the other hand, with Turkey's important role in the supply chain and its role as an intermediary in both trade and logistics sectors in Russia, the importance of Turkey during this war period was better understood by the countries in the region.