The invasion of Ukraine by Russia has been one of the most looked down upon events of recent times in the West. Many countries have gotten together to take careful responses against Russia in some effort to dissuade the war in Ukraine.
This has come in the form of major economic sanctions primarily. Russia has been removed from SWIFT, majorly reducing their international banking capabilities. The U.S has stopped all importation of oil from Russia and removed the ability to buy Russian bonds. And several countries have frozen Russia’s foreign reserves.
On top of this several companies have suspended all operations within Russia, prompting several lookalikes to pop up as Russia removed all U.S intellectual property rights. This all serves for up to a 15% downturn in Russia’s economy throughout 2022, but the effects are not just economic.
Russian citizens are now being looked down upon as support for Putin only grows. The U.S is seeing skyrocketing gas prices and low stock values and Russia and its citizens are being seen as the ones to blame. Resentment continues to grow but Russian citizens are only serving to be harmed.
Higher interest rates, fluctuating currency, the complete block of money being sent abroad, these are some of the things Russian citizens are dealing with. In times of war common citizens are the ones most harmed, one must only look at all the displaced people of Ukraine to understand that.
Although action must surely be taken against Russia. It’s important to recognize the effects of war on the people of Ukraine, Russia, and even places like the U.S. War takes a toll on everyone and that’s a natural consequence of actions taken to promote its end. What the future holds for these countries is only yet to be seen.
Source: USGoldBureau.com
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