The Economic Costs of the Russian Vs Ukraine Conflict

The two sides of the conflict – Russia and Ukraine – are both wary of the other’s intentions. The United States is sending military equipment to Ukraine, while Europe is deploying sanctions against Russia. President Biden has accused the Russian leader of war crimes, calling the invasion a “genocide.” The Kremlin has condemned the president’s comments as unacceptable. Both sides have said that economic costs of the conflict will be felt in Russia, but the talks between the two sides have yielded no progress.

In an effort to prevent economic damage from the conflict, the U.S., NATO, and other Western nations have stepped up their support for the Ukrainians. The Pentagon has already delivered eighty percent of the 90 howitzers it promised to Ukraine. It has also trained about 170 Ukrainian soldiers to operate the howitzers. Britain has also promised to provide antiship missiles and armored vehicles to Ukraine. While the conflict in Ukraine has roiled the world’s relations with both countries, a number of experts believe that the U.S. has the best chance of preventing a global recession.

Russia has launched a full-scale military invasion of Ukraine, which has killed nearly three thousand civilians and displaced over five million people. The conflict has also caused an enormous refugee crisis, with more than one million people now living outside of their country. The United States is helping to accommodate this large influx of refugees. Several publicly released intelligence reports reveal that Russian forces have deployed heavy weaponry near the border with Ukraine. As a result, the U.S. is putting pressure on both sides to stop using chemical weapons.