10 Ways The Ukraine Crisis Could Damage Global Economy
After almost 1 year and 5 months since the Ukraine crisis began with President Viktor Yanukovych refusing to sign an association with the European Union, 1 year and 2 months since the outburst of the people and 1 year and 1 month since the annexation of Crimea, the actual situation could have multiple consequences for the whole world.
With some partial interests and a whole country devastated and terrorized by the eminent war that halts at its wall’s, Ukraine is the major chess in a major distortion in the global economy.
Let’s see in the following which are the major effects to the world economy that are in the process of going viral.
10. Economic Sanctions
A first immediate effect given by the fact that Russia defies any suggestions from the European Union and from U.S. attracted upon officials and businessmen a series of sanctions.
The whole Crimean incident gave the western world the chance to punish some of Putin close people and officials who were directly involved in the mater.
This caused sanctions from the U.S. regarding the visa control on businessmen who come to America to do certain affairs.
With a long list of countries prepared to do the same thing, the sanctions could come against Putin and his way of treating this matter, resulting in the shift of majority of businessmen who suffer from these sanctions and lose money due to them.