IMPACT OF THE RUSSIA – UKRAINE CONFLICT ON INTERNATIONAL TRADE

ABSTRACT

This research work examined the impact of the Russia and Ukraine war on international trade and on the international economy. It examined which economic and trade relations dynamics, especially the imposition of sanctions and divestment, had on the trade relations among Russia, Ukraine, the European Union and the international system at large and also the implications of the war on the international economic system. The project work is divided into three parts with the first part analysing the historical origins of the conflict. The second part focuses on the impact of the war on the conflicting parties and the European Union while the third part focuses on the effects of the war on the international trading system.

The present hostilities began on February, 2023 but the conflict had long been visible since Ukraine’s independence from the Soviet Union in 1991. Since 1991, series of events have taken place, slowly exposing the realities of the severity of the conflict. One significant event which brought the reality of the complexity of the conflict to the consciousness of the international system was the Russian invasion of the multi-ethnic Crimean peninsula with certain economic sanctions against Russia adopted by European Union, the U.S and other Western powers to checkmate the progress of what was perceived a global security threat. The current conflict which is currently on going has resisted fervent attempts to secure a long lasting resolution to the conflict. This is an indication that the conflict is beyond the immediate perception of a territorial violation and is rather a conflict deeply ingrained in cultural and historical incongruity.