Are We Going To War With Russia 2022? How War Would Change Economy

Are We Going To War With Russia 2022? How War Would Change Economy

Russia’s “unprovoked and unjustified” attack on Ukraine will be held accountable by the world, President Joe Biden said on Wednesday.

According to Biden’s statement following Putin’s announcement of military action against Ukraine, Putin has chosen a premeditated war that will result in catastrophic losses of life and human suffering.

On Thursday, Vice President Joe Biden will deliver a speech to the nation in which he plans to announce new sanctions the United States has imposed.

Russian President Vladimir Putin made the announcement in a televised speech on Wednesday night, just a few minutes earlier.

Russia’s president, Vladimir Putin, said the move is in response to Ukraine’s threats. He went on to say that Russia doesn’t intend to take over the country and occupy it. Vladimir Putin blamed Ukraine’s “regime” for the bloodshed.

Are We Going To War With Russia 2022?

Considering that the two countries have over 8,000 deployable nuclear warheads each, this is a very serious matter. “MAD” – Mutually Assured Destruction – is still relevant today.

“Putin will not attack Nato, according to a senior military source in the United Kingdom on Tuesday. In other words, he’s looking to make Ukraine into a satellite state of Belarus.”

However, Putin’s mental state is the wild card here. On Monday, he sounded more like an angry dictator than a calculating chess player or judo fighter, and that’s not a compliment.

When he referred to NATO as “evil,” he implied that Ukraine had no right to exist as a sovereign country apart from Russia. It’s a little concerning.

The United States has gone further, and Germany, for example, has now postponed giving the green light to the massive Nord Stream 2 gas pipeline from Russia, but the United Kingdom is leading the charge for sanctions.

Russian retaliation is almost inevitable. It’s likely that Western companies doing business in Russia will suffer, but Putin has the power to make things worse, much worse.

The National Cyber Security Center has already warned that “revenge” could come in the form of cyber attacks. Banks, businesses, and even critical national infrastructure are all possible targets of these crimes.

After years of deteriorating relations with Moscow, including the poisoning of Russian dissidents on British soil, there is now almost no mutual trust between Russia and the West.

How War Would Change Economy

Reducing supply and increasing demand for energy and food, as well as a possible increase in inflation as a result of rising gas and food prices around the world, could have an impact on the global economy.

Prices of oil and natural gas have risen sharply as a result of the escalating geopolitical conflict in Russia. A major food supplier to Europe, it is the world’s largest exporter of wheat.

If a conflict in Russia causes a commodities crunch, the price of raw materials and finished goods will rise at least temporarily in the rest of the world, including the United States, which is already experiencing rapid inflation.

American consumers could also be spooked by global unrest, resulting in a reduction in spending and economic activity. Increasing borrowing costs could be difficult for the Federal Reserve, which plans to raise interest rates in March, if the slowdown becomes more severe. Geopolitical risks “could cause increases in global energy prices or exacerbate global supply shortages,” according to minutes from the most recent meeting of central bankers.