Understanding the Effects of the Russia-Ukraine Conflict on the Global Economy

Abstract

The present paper outlines how the Ukraine-Russia conflict has proven to be something beyond the humanitarian crisis. Since the war has started, the risks to financial stability are increasing, and the after-effects of Western countries’ huge sanctions against Russia can finally be observed and analyzed. The article sets the record straight by explaining in detail how the war between the two countries has caused the current economic crisis.

Keywords

• global economy
• ukraine-russia conflict
• economic crisis
• labour market
• inflation rate