The effects of regional wars on the global economy the case of Russia-Ukraine War

Human history is intertwined with wars. What distinguishes man from other creatures is his ability to dominate and conquer nature; he does this by using his own logic and by making the tools that pave the way for the production and accumulation of capital. In order to protect his interests and realize his desire for domination, man creates weapons that develop further in parallel with other tools. Industrial societies produce and trade weapons to strengthen their economies. The advancement of technology and science in the service of political powers has led to competition for power and dominance in the world, resulting in the proliferation and production of weapons of mass destruction. Disarmament and arms control programs and international regulations have had no effect in reducing and preventing war. The proposals of the opponents of war are not enough to change the social structure, and the theories that see the effort to eliminate war as futile are also questioned and criticized. War, as the most ominous and surprising social phenomenon, has terrible effects and consequences, which has caused the explanation of the nature of war and its causes to be widely noticed by thinkers in various fields. In 1990, after the collapse of the Soviet Union, one of the issues that worried the countries of Western Europe and the United States was the countries of Eastern Europe. It was necessary to bring these countries, which until then had been members of the Warsaw Pact, into the Western camp, so that in the future under no circumstances would they again become allies of Russia. This is why the issue of NATO's eastward expansion has been pursued ever since. Russia's massive invasion of Ukraine in February 2022 and the severe financial sanctions imposed against Moscow have not only affected Russia economically, but the consequences of this crisis have also affected the international economy. Inflation caused by the Ukrainian crisis, which has already damaged most of the world's economies, is constantly increasing due to the sharp rise in the price of oil and gas, industrial and agricultural products. Therefore, this study seeks to analyze the economic impact of the war between Russia and Ukraine in 2022 on the key players of the global economy, particularly the US and Europe, which have imposed severe financial sanctions against Russia. Therefore, the main research question is, what is the impact of the 2022 war between Russia and Ukraine on the international economy? The research hypothesis is that given the political and military aspects of the conflict in Ukraine, the leaders of the countries prioritize political issues over economic issues in their decisions regarding this crisis, which causes the economy, which was considered as a lower policy issue during the Cold War period, to be influenced by higher policy issues again, and that recession and an increase in global prices will be faced.