RUSSIA - UKRAINE WAR: ECONOMIC IMPACT ASSESSMENT

The war between Russia and Ukraine has raised many consequences out of it. This military action by Russia launched with a reason that Russia want to make Ukraine Nazi less and want to protect the rights of people of some of the regions of Ukraine. Whereas, the reasons for this actions seems very much rooted than it appears. Russia, after the break of USSR, has faced many problems as a country but today has secured a very great position on the world map. The third largest manufacturer of oil, second largest manufacturer of natural gas, is getting some troubles for their business and hence this action of war seems to be taken. This war has affected and is affecting the world economy and Indian economy as well. The increased prices of crude oil have resulted in inflation worldwide. Further Russia and Ukraine being the major players in wheat growing and exporting, an uncertainty is dwelling for harvesting the crop of this season which will lead to the increased rates of wheat worldwide. These are some the effects of this war. The intention behind this paper is to study the economic impact this war.