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Russia’s War in Ukraine: Consequences for European Countries’ Businesses and Economies

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  • Anatolijs Prohorovs

    (Faculty of Business and Economics, RISEBA University of Applied Sciences, 3 Meža Street, LV-1048 Riga, Latvia)

Abstract

Companies and countries have needed to adapt their activities to the consequences of the Russian war in Ukraine. The analysis in this article shows that both the Russian war in Ukraine and the subsequent trade restrictions have become a powerful trigger, significantly increasing the level of inflation and exacerbating the existing issues of economies. As a result, the confrontation between the West and Russia has greatly escalated, which will have a long-term, large-scale negative impact on most European companies and economies. There could also be a lasting restructuring of world trade. The article notes that not only the end date of the war in Ukraine may be important for business and economies, but also which of the trade and financial restrictions can be lifted from Russia, and when. The article also makes recommendations that may help company leaders plan, in a timelier and more accurate fashion, the changes necessary to maintain company sustainability.

Suggested Citation

  • Anatolijs Prohorovs, 2022. "Russia’s War in Ukraine: Consequences for European Countries’ Businesses and Economies," JRFM, MDPI, vol. 15(7), pages 1-15, July.
    • Handle: RePEc:gam:jjrfmx:v:15:y:2022:i:7:p:295-:d:854728
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    References listed on IDEAS

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    1. Elliott Ash & Sharun Mukand & Dani Rodrik, 2021. "Economic Interests, Worldviews and Identities: Theory and Evidence on Ideational Politics," CESifo Working Paper Series 9501, CESifo.
    2. Elbahnasawy, Nasr G. & Ellis, Michael A., 2022. "Inflation and the Structure of Economic and Political Systems," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 59-74.
    3. repec:ocp:ppaper:pb18-22 is not listed on IDEAS
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    Cited by:

    1. Katarzyna Karakiewicz-Krawczyk & Krzysztof Zdziarski & Marek Landowski & Agnieszka Nieradko-Heluszko & Artur Kotwas & Paweł Szumilas & Anna Knyszyńska & Beata Karakiewicz, 2022. "The Opinions of Poles about the Need to Provide Humanitarian Aid to Refugees from the Area Covered by the Russian–Ukrainian War," IJERPH, MDPI, vol. 19(20), pages 1-14, October.
    2. Oleh Semenenko & Maryna Sliusarenko & Andrii Onofriichuk & Vitalii Onofriichuk & Artem Remez, 2024. "Impact of the Russian–Ukrainian War on the National Economy of Russia," Journal of Interdisciplinary Economics, , vol. 36(1), pages 41-57, January.
    3. Lim, Seo-Yeon & Choi, Sun-Yong, 2024. "Dynamic credit risk transmissions among global major industries: Evidence from the TVP-VAR spillover approach," The North American Journal of Economics and Finance, Elsevier, vol. 74(C).
    4. Florin Aliu & Jiří Kučera & Simona Hašková, 2023. "Agricultural Commodities in the Context of the Russia-Ukraine War: Evidence from Corn, Wheat, Barley, and Sunflower Oil," Forecasting, MDPI, vol. 5(1), pages 1-23, March.
    5. Charalampos Basdekis & Apostolos Christopoulos & Ioannis Katsampoxakis & Vasileios Nastas, 2022. "The Impact of the Ukrainian War on Stock and Energy Markets: A Wavelet Coherence Analysis," Energies, MDPI, vol. 15(21), pages 1-15, November.
    6. Tetiana Shkoda & Oleksandr Savych, 2022. "Transformation Of Marketing In Wartime And Postwar," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 8(5).

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