The Russian sanctions appear to have had a significant impact on Europe. These severe consequences include inflation, which is now at 8% after briefly reaching 10%.
-
Humanitarian catastrophe, global economic crisis: Implications of Russian sanctions
Following Russia’s military operation in Ukraine, major Western countries and blocs such as Japan, European Union, Canada, the United States, the United Kingdom, and Canada imposed various sanctions on Russia. These included restricting secondary trade in Russian government bonds, prohibiting interaction with Russian banks, barring exports of critical technology to Russia, freezing assets, and prohibiting travel for elite Russians.
These measures undoubtedly have global political and economic implications. Economic and financial sanctions imposed on Russia will alter the international economic system, with long-term implications for how the global economy operates. The Russian…
