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The Russia-Ukraine Conflict: Economic Consequences on Europe and the World

Author: Philip Fwaldin Kasuwa
Institution: Pope John Paul II Catholic University in Lublin
ORCID: https://orcid.org/0000-0001-7118-6461
Year of publication: 2022
Source: Show
Pages: 63-82
DOI Address: https://doi.org/10.15804/npw20223403
PDF: npw/34/npw3403.pdf

A number of international sanctions have been placed on Russia since it launched an attack on Ukraine on February 24, 2022, in order to persuade the country to de-escalate the conflict. The sanctions imposed on Russia, while designed to harm the Russian economy, had unintended consequences on the world economy, primarily through the disruption of global supply chains. Energy supply shocks, commodities and trade supply shocks were all caused by the conflict. In many nations, this resulted in an increase in worldwide inflation. Despite the fact that Israel and Turkey were instrumental in mediating a peaceful end of the conflict between Russia and Ukraine, the economic fallout from the crisis continued to reverberate throughout Europe and beyond.

Российско-украинский конфликт: экономические последствия для Европы и мира

После нападения на Украину 24 февраля 2022 года на Россию был наложен ряд международных санкций, чтобы убедить страну в необходимости деэскалации конфликта. Санкции, введенные против России, хотя и были призваны нанести ущерб российской экономике, имели непредвиденные последствия для мировой экономики, в первую очередь из-за нарушения глобальных цепочек поставок. Сбои в поставках энергоносителей, сырьевых товаров и торговли были вызваны конфликтом. Во многих странах это привело к увеличению мировой инфляции. Несмотря на то, что Израиль и Турция сыграли важную роль в мирном разрешении конфликта между Россией и Украиной, экономические последствия кризиса продолжали сказываться на всей Европе и за ее пределами.

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