The effect of the conflict between Russia and Ukraine
The war between Russia and Ukraine had become the most intense and perhaps the most terrifying news of this time. The number of casualties is massively increasing day by day. Today, we can only see the short-term effects directly related to the conflict between the two nations. The war devastated the capital of Ukraine but perhaps the most affected ones are the civilian who suffered not only physical but emotional, mental, and spiritual damages as well.
According to the article written by Lee A., some of the death reports are not related to combat but because of the wider effects of the war on public health. He additionally uttered that invasion of Russia will surely bring catastrophic suffering and health consequences.
Beyond the effect of the conflict between Russia and Ukraine in their respective borders, the war also affects the world, especially the world market. According to BP, International food Policy research institute, Russia accounts for 8 to 10% of the world oil supply exporting 6.5 million barrels of oil a day, 17% of natural gas production also came from Russia as well as 15% of global trade in nitrogenous fertilizers and 17% of global Potash fertilizer exports.
Russia and Ukraine also account for 29% of all wheat exports, and 75% of all sunflower oil exports. Given these data, the world market will suffer from tremendous inflation, in fact, the global crude price has jumped 15% since Russia invaded Ukraine. The sudden fluctuation of global prices greatly affects other nations that are dependent on global trade prices like the Philippines. For the past consecutive weeks, there has been a continuous oil price hike but this is because of the shortage of supply and the continuous jumping of world market prices. The department of energy said that the war doesn’t have a direct effect on the oil price hike yet. Additionally, the department of energy states that sooner or later, the effect of the war on the world market will soon be felt.
For now, that’s all I can explain but I guess sooner or later the long-term effects of the conflict between Russia and Ukraine will rise and be felt by all of us. So, that’s it for this article, I hope the war between Russia and Ukraine will soon be ended and may peace be with all of our hearts. May God bless us all.