Russia-Ukraine War: Economic Implications for Pakistan

Abstract

Russia attacked Ukraine on February 24, 2022, ostensibly for reasons of security. The war between Russia and Ukraine is undoubtedly going to result in serious problems, including economic repercussions for the parties involved and for the atomic nations of the globe. Serious sanctions imposed on a petro-state like Russia will have long-lasting impacts, one of which may be an increase in world oil prices. Regarding Russia, the economic effects of Putin's assault on Ukraine are mostly political. The interruptions in the supply of Brent crude oil and other Russian exports will depend on the economic penalties that Western politicians impose on Russia. While in regards to Ukraine, the disruptions in the supply of wheat, sunflower oil, and other exports would depend on the severity of the harm inflicted by Russian strikes on its infrastructure and agricultural land. The purpose of the research paper is to talk about the effects of the Russia-Ukraine situation especially on Pakistan. In summary, the prison and financial results of the Ukraine-Russia war are some distance-attaining. It has triggered countries to reassess their relationship and are searching for alternative assets of food and electricity. Cooperation among Pakistan and Europe can assist mitigate the bad effects of conflict via increasing alternate and cooperation in regions along with meals and generation