The Russian-Ukrainian War in 2022 (economic and political effects)

Abstract

The Russian-Ukrainian war that broke out in February 2022 led to global effects, especially in the economic and political field. In the economic field, it led to a significant rise in prices, especially in the energy markets. The reason for this rise in prices is the exacerbation of tensions on the Russian-Ukrainian border due to the presence of military build-ups. Because Russia reduced its gas supplies to Europe, before the outbreak of the military operation, which was met by the countries of the Western bloc with intense economic sanctions, most of the Russian sectors were targeted, except for the energy sector, because it is a vital element for European countries, and the high rates of global inflation negatively affect the world. This is due to the lack of supply and the lack of risk in it, which causes increased demand and high prices, and by reading the global economic reality, an important question is raised in this regard: Will the high global inflation rates remain a continuous or temporary crisis? The answer to such a question lies in all countries of the world developing quick economic solutions, such as removing taxes and fees on production inputs and local industries and providing support to them, as well as the agricultural and commercial sector. These proposals are more effective in developing countries because they are the most affected by the problem of high rates of inflation ، In the political sphere, the sanctions imposed on Russia have an economic aspect. But its essence is political, because every measure that disrupts the economic wheel is a direct and clear effect of politics. Relations with countries may worsen, and this creates political pressures that will influence the reversal of some decisions that create problems in international politics. A good example of that is the following table, which will clarify the nature of sanctions. imposed by some countries on Russia.