What caused the Russian invasion of Ukraine and what were its effects?

Answer from top 10 papers

The Russian invasion of Ukraine, initiated on February 24, 2022, has been identified as a significant geopolitical event with far-reaching implications. The causes of the conflict are multifaceted, including Ukraine's sense of national identity, the idiosyncrasies of the leaders involved, and immediate triggers such as Ukraine's sovereignty and the status of Crimea, Donetsk, and Luhansk, as well as international alliances (Devadoss & Ridley, 2023). The effects of the invasion are extensive, impacting global economic, political, and social spheres. Economically, the invasion has led to disruptions in the supply of commodities like Brent crude oil, wheat, and sunflower oil, causing price surges and affecting global markets (Karazanashvili, 2024). The energy sector, particularly in countries like Germany and the UK, has been significantly affected, with shifts in energy trade and electricity generation (Fidelis & Ahmed, 2023).
Interestingly, while global wheat prices generally increased, prices in Ukraine fell dramatically, leading to a substantial loss in producer surplus for Ukrainian wheat producers (Bao & Chen, 2023). The conflict has also resulted in systematic risk effects on European non-financial firms, with those having higher foreign sales managing to reduce their exposure to the geopolitical event (Prakasa et al., 2022). The human cost is also profound, with tragic suffering, loss of life, and long-term health impacts that will persist beyond the conflict (Luschini et al., 2024).
In summary, the Russian invasion of Ukraine is a complex event with deep-rooted causes and widespread effects. It has disrupted global commodity markets (Piserà et al., 2024; Zaliska et al., 2022), influenced international relations and strategic interests (Shah et al., 2022), and affected sectors such as civil aviation (Alam et al., 2022). The consequences of this conflict are likely to shape the geopolitical landscape for years to come.

Source Papers

Implications of Russia- Ukraine War on World Peace and Security

The lingering tension between Ukraine and Russia have been visible since Ukraine gained its independence in 1991 not until 20 February, 2014 following the Ukraine’s revolution of dignity, and in February 2022 Russia lunched a full scale invasion of Ukraine. Russia’s invasion of Ukraine is the most violent interstate conflict in the world since the second invasion of Iraq and Afghanistan in 2003 and 2001 respectively by the United States of America. The paper examined the nature and causes of this war, and consequences of the war. The Qualitative method of data analysis through the use of Secondary sources of data was used in achieving the said objectives. The paper adopts the power theory as theoretical framework in investigating the nature of the war, remote and immediate causes of the war. The paper found out that the war is hybrid in nature and there are remote causes such as Ukraine’s sense of national identity, idiosyncrasy of the leaders’ involved and immediate causes such as Ukraine’s sovereignty, and status of Crimea, Donetsk, and Luhansk, international alliances, that triggered the occupation of Ukraine by Russia in February of 2022. The paper recommends that respect for a state’s sovereignty as enshrined in international law and United Nation’s charter should be a thing of national concern of both countries, that referendum should be considered especially with issues surrounding the status of Crimea. Also the paper recommends mutual tolerance and respect for international law, to avert plunging the world into avoidable crises of unimaginable proportion

Open Access
Commodity and Currency Correlations of the Russia-Ukraine War

On February 24, Russia's Special Military Operations invaded Ukraine in what became one of Europe's most significant military conflicts since the Cold War. Meanwhile, this military operation inevitably affected the rest of the world instead of only being a localized engagement. For instance, the USA and western Europe went on high alert about the impact of the invasion on the global economy. These fears were confirmed as the world economy followed a path affected by the Russia-Ukraine crisis, particularly concerning commodities and currency. In one of our recent studies, we investigated the correlation between commodities and currencies. During our research, we looked at the link between past localized conflicts and how they impacted various nations' commodity prices. The relationship between the two variables can explain the significant damage to a country's production and export capacity and the driving force behind inflation. In this dataset, we first calculate the correlation ratios based on evidence such as the production and export of oil, wheat, and the state of the Russian currency (rubles). The changes in these aspects were investigated before and during the war, as the conflict is still ongoing. Then, we combine these correlations with similar conditions in other conflicts to conclude. Finally, we empirically investigate the correlations between these commodities and currencies.

Open Access
The Effect of Russia--Ukraine War on International Aviation Sectors

The Russian invasion of Ukraine has already killed hundreds, sent thousands of refugees fleeing, and sent ripples throughout the entire world. With closed airspaces in and around the conflict leaving some stranded and flights rerouted, impending fuel price jumps, airlines and countries cutting off Russia and its national airline. The European Union’s potentially impactful sanctions on aircraft parts. The airline industry has faced 2 years of significant challenges, and it is unfortunate that as the pandemic begins to wane, they get no respite before dealing with more triage. This research focused on studies: (1) How is the impact of Russia v. Ukraine in several sectors of civil aviation? (2) How the international law regulated civil aviation during an armed conflict situation, also strategies and response for far away from worse impact Russia v. Ukraine conflict in civil aviation sectors. The research method used in this research focused on the traditional regulatory approach and a comparative approach to discuss the invasion of Russia v. Ukraine, this research also focuses on the several impacts on international aviation during wartime Russia v. Ukraine following legal, and regulatory standards regarding international aviation law. The results of this study show, several impacts in the international aviation sectors, such as in air passenger traffic, air cargo traffic, jet fuel prices, and airfares, also on the development of a broader economy. Strategies and Response for far away from worse impact Russia v. Ukraine conflict in civil aviation sectors, accelerate peace agreement. Compliance with international law regarding security and safety for international civil aviation. Recovery of the several impacts in aviation sectors during wartime, and strengthening the aviation industry to survive during crises as an impact of war.
 Keywords: invasion, Russia vs. Ukraine, international aviatio

Open Access
The Impacts of the Russia–Ukraine Invasion on Global Markets and Commodities: A Dynamic Connectedness among G7 and BRIC Markets

The conflict between Russia and Ukraine has been causing knock-on effects worldwide. The supply and price of major commodity markets (oil, gas, platinum, gold, and silver) have been greatly impacted. Due to the ongoing conflict, financial markets across the world have experienced a strong dynamic regarding commodities prices. This effect can be considered the biggest change since the occurrence of the financial crisis in the year 2008, which explicitly influenced the oil and gold markets. This study attempts to investigate the impacts of the Russian invasion crisis on the dynamic connectedness among five commodities and the G7 and BRIC (leading stock) markets. We have applied the time-varying parameter vector autoregressive (TVP-VAR) method, which reflects the way spillovers are shaped by various crises periods, and we found extreme connectedness among all commodities and markets (G7 and BRIC). The findings show that gold and silver (commodities) and the United States, Canada, China, and Brazil (stock markets) are the receivers from the rest of the commodities/market’s transmitters of shocks during this invasion crisis. This research has policy implications that could be beneficial to commodity and stock investors, and these implications could guide them to make many decisions about investment in such tumultuous situations. Policymakers, institutional investors, bankers, and international organizations are the possible beneficiaries of these policy decisions.

Open Access