As the war in Ukraine is nearing a month since Russian troops launched a multi-front incursion against the former Soviet nation, there have been multiple repercussions globally.
Impact of Russia-Ukraine war
As the war in Ukraine is nearing a month since Russian troops launched a multi-front incursion against the former Soviet nation, there have been multiple repercussions globally.
On expected lines, oil and natural gas prices had shot up to record highs before plateauing to steep valuations. This in turn had meant that energy bills, food prices, and the cost of basic commodities across the world have gone up.
Even though once a superpower, Russia only contributes to 3% of the world’s GDP and Ukraine is in the 57th position of the world’s global economies. All this can also kindle a spiral of political instability and give rise to extremist governments and move away from the trend of liberal governments coming into power.
As the war in Ukraine is nearing a month since Russian troops launched a multi-front incursion against the former Soviet nation, there have been multiple repercussions globally.
On expected lines, oil and natural gas prices had shot up to record highs before plateauing to steep valuations. This in turn had meant that energy bills, food prices, and the cost of basic commodities across the world have gone up.
Even though once a superpower, Russia only contributes to 3% of the world’s GDP and Ukraine is in the 57th position of the world’s global economies. All this can also kindle a spiral of political instability and give rise to extremist governments and move away from the trend of liberal governments coming into power.
