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The Impact Of The Russian-ukraine War On International Trade
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1.2 Statement of the problem
After Russian soldiers invaded Ukraine
by air, land, and sea, global financial and energy markets were shaken,
leading oil prices to rise and financial instruments to plummer
Mamonov,(2022). Given that the utilities sub-basket accounts for 32.6
percent of core inflation, they predict core inflation to rise in the
near term, with a negative impact on headline inflation, particularly
given the persisting shortage created by contaminated fuel import Tuzova
(2022). Similarly, with substantial food imports from Russia, such as
wheat, there are fears about food inflation if the tensions persist
Tuzova (2022). The war heightened tensions around the globe, from Europe
to Asia to Africa, when President Vladimir Putin called his opponents
and other world leaders on their bluff and proclaimed a full-scale
military campaign in Ukraine Stone (2022). The global economy was also
shaken, resulting in unequaled losses for investors throughout worldwide
and investment clusters. Stone(2022). The forex and cryptocurrency
markets, which operate 24 hours a day, were the first to fall victim to
the onslaught. As the world markets sank, bitcoin, the most popular
cryptocurrency, dropped nearly 10% in a few of hours, resulting in the
liquidation of over $72 million in long bets in the early hours of the
day, according to Stone (2022). The total crypto futures position
holders lost $242 million because to liquidations, as meme and altcoins
fell 10% to 35% in a wild slide Stone (2022). Global stock markets were
not spared the carnage, with the Moscow Stock Exchange, as predicted,
leading the losers' chart, with almost 50% of capitalization wiped out
as a result of asset dumping panic throughout Europe and the rest of the
globe Poroshenko (2022). As a result, it is necessary to investigate
the effect of the Russian-Ukraine conflict on world commerce.
1.3 Objective of the study
The
general objective of the study is the impact of the Russian-Ukraine war
on international trade. The specific objectives are as follows:
i. To examine the factors responsible for the Russian - Ukraine war.
ii. To evaluate the impact of the Russian-Ukraine war on European trade.
iii. To investigate the global prospect of the Russian - Ukraine war
1.3 Research Questions
The following questions have been prepared for the study
i. What are the factors responsible for the Russian - Ukraine war?
ii. What is the impact of the Russian-Ukraine war on European trade?
iii. What is the global prospect of the Russian - Ukraine war?
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