Russia's invasion of Ukraine has dramatically impacted the international economy. On 24th February 2022, the Russian authority invaded Ukraine, thus creating the Russo-Ukraine war; and resulting in global economic constriction. The war has caused more substantial inflation and a weak growth rate. In contrast, Russia’s invasion has affected the global economy positively and enlightened global countries on the need for security. While we reflect on Russia's invasion of Ukraine, it is significant to understand the catastrophic global food shortage caused by war and understand energy-oil and fertilizer shortages. It is also significant to discuss inflation resulting from the Russo-Ukraine war and the need for each country's intense militarization and better changes to be imposed on UN Security Council regarding international peace and security.

Russo-Ukraine War Impact on Global Food Shortages and Increased Inflation Rates Globally

Globally there are catastrophic food shortages because of the Ukrainian invasion. Before the war, Ukraine produced approximately seven million tons of agricultural products such as wheat, barley, and cooking oil for the Middle East, Africa, and Asia. Forty percent of these products exported have decreased due to trade sanctions and disrupted supply chains. The war caused increased food prices due to increased demand and less supply. This has resulted in significant food insecurity in poor importing countries (Pereira et al., 2022). In 2020/2021, Russia produced 58.5 million tons of grains to feed the global economy. The reduction in this product has affected the sub-Saharan countries’ economies, Ukraine, Russia, and other dependent countries' economic progress. According to the UN food and agriculture organization, food shortages have led to the loss of six percent of the gross domestic product. It has sent food inflation rates high globally, thus affecting international economic development. As the inflation rates increase due to Russia's invasion, there are slow growth rates. Due to increased inflation rates, America's growth rates are expected to decrease to 2.5 percent from the previous 4.8 percent growth rate.

Russia’s Invasion Impact on Energy-Oil and Fertilizers

Russia is among the largest producers of oil and petroleum products internationally; after the war spiked, the United States banned Russia’s export of coal, gas, and oil. The trade sanction has restricted oil export from Russia, thus creating petroleum shortages, leading to high petroleum prices globally and affecting economic development. The trade and production disruption caused by the Ukraine crisis has pushed the Brent energy price to cost an average of 85US dollars per barrel in 2022, which has never occurred since the 2013 financial year (Chepeliev et al., 2022).

Additionally, the Russian invasion has caused fertilizer shortages and increased prices. Russia is a significant fertilizer producer and exporter; the imposed sanctions have affected the supply chain and increased the prices of fertilizers globally. For example, Colorado farmers are purchasing double-priced fertilizer for the same commodity they bought last season. Fertilizers are responsible for effective food growth, there is decreased food production globally resulting from the Russian invasion. This has resulted in deteriorated economic development globally. Therefore, Ukraine -Russian conflict has increased oil and fertilizer prices and resulted in their shortages leading to less economic growth. 

UN Security Council Need for Change in Peace and Security Provision Globally

In contrast, the Russian invasion has enabled the global community to understand the gap in UN Security in restoring peace and security. Currently, we can understand some members are perpetrators of aggression and other irresponsible security behaviors. The UN security structures need progressive and effective changes to prevent the future occurrence of such insecurity cases. This can be done through effective international security laws. Additionally, the International Criminal court of justice should improve in matters regarding problem-solving. For instance, the international court of justice should prosecute justice and facilitate justice provision; this can prevent future occurrences of crimes. There is also a need for a nuclear weapon regulation act to avoid their misuse. This will prevent abuse and massive killing of citizens in the future. Rules should be established against armed conflict to enable the resolution of international disputes and prevent them from affecting economic development negatively. Therefore, Russia’s invasion has enabled the global economy to identify security challenges and plan ways to prevent crises in the future (Mousavian & Mahmoudieh, 2021).

Global Strong Militarization and Military Planning

The Russian invasion has enabled the global countries to recognize the need for each country’s strong military, strong defense equipment, and military planning. If Ukraine had a better army, then Russia’s invasion could be delayed and stopped. From the attack, global countries understood that military readiness, planning, and adequate equipment are significant for a country's security and economic development. International countries need cyber security to protect against future invasions from enemies. Therefore, Russia's invasion has enhanced a better understanding of the importance of counties' adequate protection.

In conclusion, Russia's invasion of Ukraine has dramatically impacted the international economy. The war has caused more substantial inflation, resulted in a weak growth rate, and affected the global supply chain. Additionally, there is food insecurity, high petroleum prices, and increased fertilizer prices. In contrast, Russia’s invasion has impacted the global economy positively; for instance, the international community will identify the UN Security challenges in peace and security and enforce effective measures to prevent future security challenges. Moreover, global counties have recognized the importance of a strong military for economic development. Therefore, Russia’s invasion of Ukraine has Altered the Global Economy both positively and negatively. 

Bibliography

Chepeliev, M., Hertel, T., & Mensbrugghe, D. (2022). Cutting Russia's fossil fuel exports: <scp>short‐term</scp> economic pain for <scp>long‐term</scp> environmental gain. The World Economy. doi.org/10.1111/twec.13301

Mousavian, S., & Mahmoudieh, Y. (2021). Evolution of the Biden administration’s approach to Iran nuclear deal and prospects for regional peace. Pathways to Peace and Security, (2), 129-138. doi.org/10.20542/2307-1494-2021-2-129-138

Pereira, P., Bašić, F., Bogunovic, I., & Barcelo, D. (2022). Russian-Ukrainian war impacts the total environment. Science of The Total Environment, 837, 155865. doi.org/10.1016/j.scitotenv.2022.155865