A Political Assessment of The Effect of Russian-Ukrainian War on The Energy Markets

Authors

  • Fatih Tuna tekirdağ namık kemal üniversitesi

Abstract

In this study, we wanted to reveal the problems caused by the Russia-Ukraine war, which is the most important conflict of the century we live in, especially in terms of energy. We also want to draw attention to the possible problems. Russia's invasion of Ukraine has been very effective both regionally and globally, and as the latest developments show, the trouble will continue to get worse. While nearby geographies felt the effects of the war in a short time, negative economic results emerged in distant geographies. The fact that the two countries that were the parties to the war had a say in the field of raw materials and energy, aggravated the effects of the war. The fact that Russia is a significant energy supplier to the world has complicated the situation in many respects. Another side of the problem is that the western world, which supports Ukraine, is categorically opposed to Russia. In this sense, almost all the western countries have turned against Russia. Strict economic embargoes were applied on Russia, who used energy cards. It was tried to be put under constant pressure to end the war. The Western world's desire for the continuation of the war and the relative support it provided to Ukraine will not be short-lived, and the economic and energy crisis will continue. The previously mentioned crisis mostly affects European countries with developed economies. With the start of the war, companies that produce and use Russian energy began to suffer, costs increased, and there were serious price increases in the market. However, especially with the approach of the winter months, the trouble will spread to the houses.

 

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Published

2022-10-22

How to Cite

Tuna, F. (2022). A Political Assessment of The Effect of Russian-Ukrainian War on The Energy Markets. Journal of Financial Economics and Banking, 3(2), 73-76. Retrieved from http://jofeb.org/index.php/jofeb/article/view/39

Issue

Section

Research Letters