As The Russia-Ukraine War Continues, Global Businesses Fall Exponentially
History has taught us that wars can be damaging to all of the parties involved, including the victorious ones. Be it in the medieval or modern age, wars have served no good for humanity and this is equally true today. Since the nature of wars is disruption, it is likely to be the foremost outcome. Innocent people lose their lives. Seniors, handicapped, and innocent civilians fall victim to ‘collateral damage.’ Houses get burned. Apart from that, the economy falls and poverty becomes rampant.
In April 2022, Vladamir Putin – the president of Russia – declared war on Ukraine and the Russian aggression continued for many months. Hundreds of civilians lost their lives while major cities, including Kyiv, the capital of Ukraine, were burned to ashes.
While Ukraine continues to suffer immensely under the Russian siege, they are not alone. Countries like the U.S., U.K., Canada and all European Union (EU) countries have ceased their businesses with Russia. It is pertinent to note here that Russia is the grand exporter of natural oil and gas. Since the fall of the Soviet Union, Russia has been in sync with all the globally leading countries. Similarly, Russia has been on the same page with the European Union.
Nonetheless, Russia under Putin’s presidency seems to be a whole different country. It has broken all the global agreements with the world superpowers and the EU while declaring war on Ukraine. Consequently, this has disastrous impacts on all these countries.
Global Business Fall Exponentially
As mentioned earlier, the Russian-Ukraine war has impacted all countries in the world. However, one of the devastating impacts of this ruthless war is the fallout on global businesses. Likewise, financial experts also believe that the current soaring inflation is also due to the Russia-Ukraine war.
While major countries like the U.S., U.K., Canada and other European countries have ‘ceased’ their businesses with Russia, the impact is obvious. Prices have gone up in an unprecedented way and inflation is soaring. Thus, if you are bothered by the current soaring inflation – and anticipated recession – perhaps Russian aggression in Ukraine is to blame.
Furthermore, the Bloomberg report reveals that “China – who seemingly favors Russia – is also struggling with its economy.” Getting out of the COVID, Chinese economists were anticipating a staggering growth in the Chinese economy. “The expectations of Chinese economists are lashed as we look at the latest data of May 2022,” says the Bloomberg report.
It is pertinent to note here that every country is equally hit by the soaring inflation due to the Russia-Ukraine war. Unprecedented gas prices ($6 per gallon) in the U.S., high mortgage rates in New Zealand, and soaring inflation in Canada are some of them.
More in Global
Some Financial Moves Every Salaried Millennial Needs To Make
If you are reading this title and wondering what a millennial is, do not worry. Millennials are people who are born...July 30, 2022
Putin’s War On Ukraine Crushes The Long-Awaited Russian Dream
If we look back at Russia before Vladimir Putin, Moscow was on its way to becoming a financial hub for international...July 23, 2022
IMF Considers Cutting Global Growth Outlook Significantly In The Next Review
The world’s economic situation is evident to all global citizens and it is not a good sight. From inflation to price...July 23, 2022
3 Personal Finance Advice From Billionaires
Money management is the number one stress all over America. Although there is no shortage of financial support, who would ignore...July 17, 2022
Most Executives Think They Made Wise Leadership Decisions During The Pandemic
During the pandemic, employers thought they were doing a good job supporting their employees. However, workers had contradictory opinions. According to...July 12, 2022
Shutterstock Acquires Splash Celebrity News Agency
Shutterstock has acquired paparazzi content agency Splash News, which adds 27 million editorial images to the archive, throwing down the gauntlet...July 12, 2022
Russian Prankster Duo Disguise As President Zelenesky To Make A ‘Distasteful’ Prank About J.K. Rowling
“Harry Potter” series writer and popular activist J.K. Rowling has recently become a victim of the Russian notorious prankster duo: Vovan...July 5, 2022
Queen Elizabeth Looks Elegant In Her New Hair Makeover
Queen Elizabeth has always looked fabulous in her signature short hair! Since the 2022 year was an important one for Her...July 5, 2022
Here Is The Key Strategy For Buying Bitcoin And Ethereum For Bull Markets
Investing in cryptocurrency is not a walk in the park! It’s just like any other investment that you make as it...June 27, 2022