Russian-Ukrainian War's Effects on the World Economy

Abstract

Purpose: This study looks at how the Russian-Ukrainian War affected the world economy in the month that followed the conflict. Design/methodology/approach: The study has used publications and other research evaluating the facts and the consequences of the war. Findings: The invasion of Ukraine by Russia in February 2022 increased geopolitical tensions between the West and Russia, which decreased expectations for global growth because it was unclear how the conflict would affect the global supply chain in particular. Additionally, Western nations' sanctions against Russia have a ripple impact on the world economy. Conflicts have sparked shocks in the energy supply, the commodities and trade supply, and increased prices for commodities, food, and energy, which has resulted in worldwide inflation in many nations. Practical implications: The conclusions can be used from both parties for further analysis and better policies to negotiate the end of the war.