Analyzing Russia-Ukraine war: The context, evolution, and global economic-cum-institutional implications
DOI:
https://doi.org/10.47264/idea.lassij/10.1.1Keywords:
Global economy, Institutional dynamics, Institutional responses, International organisations, Geopolitical interests, National interest, Power dynamicsAbstract
The Russia-Ukraine war is one of the significant geopolitical crises of the 21st century, with far-reaching political, social, and economic consequences. It begins with the legacy of the Cold War, highlighting the impact of NATO enlargement on shaping Russia’s perceptions of security. It examines President Putin’s strategic motives, based on nationalism, fear of NATO expansion toward Russian-speaking regions, and attempts to reaffirm Moscow’s regional power. This study examines political, military, and economic aspects of the Russia-Ukraine war for both countries and the global world order. Ukraine has suffered vast displacement, infrastructure damage, and long-term losses of investment and trade, whereas Russia has been hit by sanctions, shrinking exports, and currency devaluation. The war has disrupted global food and energy supplies, exacerbated inflation, and rattled supply chains. Mediation by international bodies, such as the UN and the EU, has been largely ineffective. Furthermore, the findings of this study suggest that the conflict is not merely a regional battle but also an economic one, reshaping global markets and altering political relations between countries. Sustained diplomatic engagement and strong international cooperation will be necessary to achieve lasting peace, and one cannot ignore the humanitarian and economic elements at stake.
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