“International Political Happenings in last ten years and its effect“
Have you heard the news?
It has been more than two decades when the last war is ever recorded. It was even the United States of America versus Afghan forces. Just recently, everyone was flabbergasted to see bombs and bullets raining down on Ukraine’s capital. Russia was intending to invade former members and allies. Trying to demonstrate their prowess and strength in order to be the best. The rapidly deteriorating conflict between these two countries assures undeniable repercussion for the entire world.
Russia – World’s Major Oil Producers
To begin with, given that Russia is one of the world’s major oil producers, and many countries, particularly those in Europe, rely on its fuel, this conflict creates a significant gap in global oil flows. In fact, European Union leaders agreed now to forbid the major portion of Russian crude oil and petroleum product imports, but nations had already begun to avoid the country’s oil, disrupting world’s oil flows. According to Kpler data, much oil is being shipped to India and China than ever before. Moreover, according to the WTO, the most instantaneous economic consequences of the Ukraine conflict has been dramatically increasing commodity prices. Food, energy, and fertilizer supplies from Russia and Ukraine are also threatened by the dispute. It even stated that the Ukraine conflict would have an impact on international trade in commercial services. This includes the transportation industry, which involves vessel shipping as well as passenger air travel. As of now, the Russian attack will prevent up to 30% of crop fields in Ukraine from being cultivated or harvested this year. Furthermore, supply chains from Ukraine have been impacted following the closure of Black Sea ports and the constrained ability to transport commodities across the Western border.
Second, in one of the fastest-growing refugee crises in recent antiquity, over 5.8 million people have fled Ukraine. Hundreds of thousands of people have been left without power supply, water, or essentials as a result of Russian attacks that have targeted heavily populated cities. Hence, the rapid rise with which Ukrainians have been displaced has transitioned international policy focus away from other developing nations and peoples who are experiencing vulnerability, dispute, and violence. It’s also shifted lawmakers’ attention away from financial migration and toward the necessities of refugees. The U.N. Ukraine’s human rights desk reported over 900 dead civilians, including 75 children, and 1,459 injuries. Nonetheless, the fact implies the “true toll is much relatively high.”
Russian Invasion of Ukraine
Finally, the Russian invasion of Ukraine raises matters of national sovereign rights, democracy versus autocratic, civil rights, and the global order. This means that, whatever the consequence, it could be a watershed moment in the global security assets. Furthermore, as seen by Fitch Ratings, there is a greater risk for lenders doing enterprise in these countries or with their government agencies, as well as entities or countries that impose sanctions or are presumed to intrude. In fact, several businesses have stated that they experience an increase in breaches and swindles as a direct consequence of the Ukraine crisis, with risk assessments usually depend on to whether the corporation has direct connections to Ukrainian national banks or even other essential infrastructure. Currently, government agencies and organizations are reportedly emphasizing rising cyber risk as the conflict worsens.
However, from a Russian standpoint, this dispute is not cause for concern because it provides a positive vision of the future. Such as an expansion of domestic product consumption, a boost in export markets, an upsurge in the efficiency of economic activity planning or economization, and so on. Furthermore, if Russia emerges victorious in this conflict, it will place a constraint on other countries. Having said that, many countries may choose to form alliances in the aforementioned region. With many potential benefits on their hand, this could prompt towards another conflict in the future.
In conclusion, looking at the big picture, this war has had a bunch of negative ramifications not just for Ukraine, but for the entire world. It is because various legislation and institutions have been developed solely to ensure the peace and justice of all humanity. Learning from earlier centuries when many nations had no choice but to incorporate themselves in a battle for their loved ones and fellow countrymen, which we should not allow to happen now. Ultimately, it should not be the kind of world and environment in which children should dwell. They do not need to take up arms or carry guns and bullets for their future. They should live their lives with the same freedom and liberty as everyone else. Something that we all indeed deserved.
By: Jazel JR. B. Sevilla