The war against Russia in an open world where everything is social
Russia’s aggression in Ukraine is one of the least recent incidents in the West. Many countries have come together to take a cautious response to Russia’s efforts to end the war in Ukraine.
It initially came in the form of major economic sanctions. Russia has been removed from SWIFT, Mainly reducing their international banking capacity. The United States has cut off oil imports from Russia and removed the ability to buy Russian bonds. And several countries have frozen Russia’s foreign reserves.
On top of that a number of organizations have suspended all activities within Russia, prompting several look-ups to pop up as Russia removes all U.S. intellectual property rights. All of this works for a recession of up to 15% in the Russian economy throughout 2022, but the effects are not just economic.
As support for Putin grows, Russian citizens are now being ignored. The United States is seeing skyrocketing gas prices and lower stock prices, and Russia and its citizens are being blamed. Dissatisfaction continues to grow but Russian citizens are only serving for losses.
High interest rates, fluctuating currency, complete blockchain of remittances, these are some of the issues that Russian citizens are dealing with. One only has to look at all the displaced people in Ukraine to understand that civilians are the most affected during the war.
However, action must be taken against Russia. It is important to recognize the effects of the war on the people of places like Ukraine, Russia and even the US war and it is a natural consequence of the steps taken by all. It remains to be seen what the future holds for these countries.