Russia and Ukraine War Effects on the Global Economy of the World

Abstract

The study was carried out in August 2023. The major objective was to analyze the Russia and Ukraine war Effects on the global economy of the world. A total of 22 articles were downloaded from the web and read again and again and analyzed the situation. The analysis shows that due to this war, the whole world was affected negatively. The study further analyzed that 30 percent of wheat, sunflower, petrol, and steel were exported to European countries in the past by Russia and Ukraine and those countries were the big exporters of the world. Now after 24th, February 2022, the exports by Russia and Ukraine were stopped due to war and sanctions by the World Organization. Due to the blockage of exports, the price of wheat, sunflower, petrol, and steel prices was raised in all countries of the world and the recession started. The majority of industries were closed due to the unavailability of raw materials which increased the unemployment of the world. Due to this war, the ecological zones of Russia and Ukraine were polluted which made the environment unfavorable. In this war, 16000 people were killed and the majority of people were displaced from their homes while the war continued in Ukraine. Now the European countries, America, and NATO organizations are struggling to stop the war but still, the war is going and there is no end to the war, If the war continues, then it will affect the whole world economy the in the long run. At the start the export items namely oil, wheat steel prices were raised due to a shortage of imports. War has always affected the economy negatively and raised the crime rate in the world. There is also the chance of a nuclear war and Putin has also made a threat to other countries of the world, if someone goes against Russia then he will attack those countries with a nuclear weapon, so now a day world is in great trouble while UNO and America have imposed sanctions on Russia for stopping the war if the situation is such that then there is a great chance of the World War III. Food crises in the whole world were raised and the majority of developing countries were affected by this war. All world organizations try, how to control the war to escape Ukraine. The wars always disturbed the world economy negatively in the past. There are few countries of the world which have captured 80 percent resources of the world forcefully and enjoy life. There are few people in the country who have captured the resources of the nation forcefully and enjoy life, so this is the big problem which has affected the whole countries of the world. Everyone tries to bring justice to the world while still the situation is not good, The people and countries of the world attack on one another and pollute the ecological zone of the world. The people are killed and no one asks about the situation, or why the killing is going on in the world. On the basis of the problem, the study recommends that to ban nuclear weapons in the world; Never Supper power attacks on lower countries of the world; Respecting the surroundings of their countries; Providing peace to the whole world; and Never thinking only for their own countries while also think for other; Never fight with one another in the world while provide peace to their nation for uplifting world economy and always help the poor and never attack on them. Then there will be peace and there will be enjoyment in the whole world.

Keywords: Russian and Ukraine, War, Effect, World Economy