European Energy Crisis Analysis: The Background of Russian-Ukrainian Conflict

Abstract

This paper argues that the Russia-Ukraine conflict significantly impacts the energy crisis in Europe. The conflict economy will destabilize the trade between Russia and the EU countries that mainly support Ukraine. This new international conflict opens up a new space for analyzing the impact of global conflicts on the economy and trade. In this article, the economic issues raised by the conflict will be from the energy market, trade position, financial market, and GDP, and how the two sides should adjust their domestic economic policies to cope with the crisis. The article shows that ruthless unilateral economic decisions can have a negative impact on the domestic economies of both sides. International conflict is also a significant reforming influence on the global economy.