Russia-Ukraine War: How It Affects The World’s Economy
The ongoing war between Russia and Ukraine seems like the inception of another world war to many people. Russia and Ukraine are at war, and even though the tensions between the countries had existed for some time, they began to get out of hand in early 2021 when the President of Ukraine, Volodymyr Zelenskyy, urged Joe Biden to allow Ukraine to join NATO. In response, Russia began sending troops near its Ukrainian border for "training exercises" late last year.
Specifically, Russia demanded NATO provide a legally binding guarantee that no military operations will be conducted in eastern Europe or Ukraine.
The new conflict between Russia and Ukraine, which borders the European Union, has repercussions for the EU. Consequently, the EU, most of which are members of NATO, has announced sanctions against Russian entities in conjunction with the United States.
While primarily the war is between these two countries, the whole
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