Earlier this week, Ukrainian intelligence officers shared
what they claimed was Russia’s invasion blueprint. The classified document,
supposedly compiled before Russian troops crossed the border, envisages the
complete takeover of Ukraine: seizing private property and taking over banks,
transport, ports and elected institutions. Unfortunately, and understandably so,
the recent discovery of this information has not made recent peace negotiations
between Ukraine and Russia any less abrasive. However, Ukraine has continued to
display a high caliber of integrity and honor in these recent meetings of
powers, despite Russia’s persistent stubbornness.
In how this situation relates to the world’s economic health,
Ukraine’s continued devotion to ending this conflict with Russia cordially is
very encouraging, as the longer it persists, the more adverse effects it is
going to have on prices, supply-chains, and international trade policies in not
just Russia and on Russian goods, but on goods and services throughout Europe
and the East.
Another effect that has resulted from this conflict is that
many nations within the G20, which is basically an intergovernmental forum
comprised of 19 countries and
the European Union that works to address major
issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development, are threatening
to boot Russia from its ranks. While banning Russia from this committee could destabilize
them in several ways, possibly leading to an end of the conflict by
discouraging the spending of more funds on weaponry and military vehicles, Russia
is still one of the world’s largest economies and controls a large portion of
highly valuable internationally traded commodities such as fossil fuels. Anyone
living in the United States right now is experiencing the effects of what
happens when such strain is placed on the flow of goods and
I don’t think that continuing to punish Russia financially, while deserved, is
going to do anybody or any economy any favors down the line.
https://www.economist.com/europe/2022/03/23/ukraines-government-is-willing-to-make-big-concessions-to-end-the-war
I agree with you that Russia deserves to be punished financially. However, just like you said, Russia is not the only country getting punished. Almost the whole world suffers from the consequences of the war and the sanctions on Russia. It will be interesting to see if countries keep up their sanctions for Russia, or if they will remove these sanctions to protect the economy
ReplyDeleteI also believe Russia should be punished and I stand with Ukraine. As Puck said, the US and many other countries prices are suffering due to Russia. I would like to know if putting these bans is doing more good than harm, because it seems like It has more damaging effects. What steps would move us in the right direction?
ReplyDeleteI think if we see OPEC countries and others, like the US, increase oil and natural gas production we would see Russia's economy sidelined. I think the fact that Russia plans to take over Ukraine's economic resources backs up the claim that Russia's economy is weak because it's largely based on oil exports. Cut them out and their strength would likely weaken.
ReplyDelete