The war that happened between the two powerful nations Russia and Ukraine due to the disturbance of their land territories. The war became very massive and created a historical event globally. The Russia-Ukraine War harmed a lot of property and lives of both nations and affected the world economy.
The effect of Russia-Ukraine War affected other counties through the financial and trade sectors and also politically. The war created the breaking of international law which has implemented many financial and travel sanctions on Russia and taken over many rights in the meeting of the united nations.
We are going to discuss the major effects of Russia-Ukraine War on the global economy, trade, travel, foreign exchange and international diplomatic relations-
The economic downturn in the global economy:
If Russia and Ukraine go to war, the entire globe might be thrown into chaos. Oil prices, as previously stated, would have already ruined everything to a large extent. At the same time, the war will have an impact on markets all around the world.
In the foreign exchange market, there will be an atmosphere of uncertainty, and there may be an economic slowdown. The global economy has already been set back by the corona pandemic.
The world will split into two halves and it will create diplomatic imbalances:
The globe can be divided into two halves if there is a conflict. As America has stated, if a war occurs, it will impose severe penalties not only on Russia but also on countries that support it. At the same time, other European nations are seen supporting Ukraine. The effect of the Russia and Ukraine war has the tendency to damage the international relations
England and France, for example, have already begun to assist by providing weapons and other items. In such a scenario, the countries bordering Russia and the countries bordering Ukraine will be split in half. The conflict might stretch on in this situation for a long time.
Ukraine has the potential to become a second Afghanistan:
Ukraine could become another Afghanistan if a war breaks out and Russia invades the country. Russia may suffer as a result of this predicament. It will be the same as what occurred in Afghanistan in 1992. For a long time, Russia was stranded there. He had to return with an unfinished task in the end. The Soviet Union disintegrated as well.
There will be no end to the war which will disturb the other countries:
It will be impossible for anyone to halt a war if it occurs. Russia, in fact, is no longer a post-dissolution country. In many ways, he has established himself as a powerful figure. It has a sizable following in Central Asia. He is armed with advanced weapons. This is the resultant effect of the Russia and Ukraine war.
Even when it comes to nuclear weapons, Russia has the ability to defeat anyone. At the same time, the United States and a number of large European countries are supporting Ukraine. All of these are really powerful. It will be impossible to control this war quickly in such a situation.
Wheat crisis on a global level:
If there is a war, there may be a worldwide wheat shortage. In truth, Ukraine, Russia, Kazakhstan, and Romania all export considerable amounts of wheat to the rest of the world. If there is a conflict, this export will be halted. All these situations will arise from the effect of the Russia and Ukraine war.
Impact on India and its economical and diplomatic relations:
If we look at the impact on India, we can see that if there is an economic crisis, India’s economy will be in shambles as well, but India’s relations will be relatively unaffected. In reality, India has pushed on the conversation throughout this process. He has also received appreciation from Russia. The cause of the impact on India is the effect of the Russia and Ukraine wars.
