Hegemonic sanctions and global economic ramifications in the context of the Russian-Ukrainian conflict: a commentary

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dc.contributor.authorSaridakis, George
dc.contributor.authorAlexiou, Constantinos
dc.contributor.authorHosein, Roger
dc.contributor.authorSatnarine-Singh, Nirvana
dc.date.accessioned2022-08-31T07:44:49Z
dc.date.available2022-08-31T07:44:49Z
dc.date.issued2022-08-31
dc.description.abstractThe outbreak of the Russian-Ukrainian military conflict has sent chills down the spines of policy makers around the world. In this paper we offer an account of the unfolding military intervention in Ukraine and its concomitant global economic ramifications. By assessing the events that have led up to the apparently inevitable showdown through the lens of hegemonic order theory, we provide tentative, yet comprehensive, insights into Russia’s military incursion. We further discuss the potential impact of the military conflict on international trade and the prices of energy, food, and metals. Whilst the analysis suggests that the efficacy of the economic sanctions will depend on a variety of factors, it is envisaged that the United States (US) is likely to be an important resource player to replace Russia's gas exports to Europe. Also, countries that primarily trade with Russia and which have refrained from imposing sanctions (e.g., Turkey and China) may benefit from increased trade with the rest of the world. In contrast, many energy- and food-dependent European economies are, like the developing countries, expected to face increased inflationary pressures given the depressed global economic environment and the ongoing supply-side disruption.en_UK
dc.identifier.citationSaridakis G, Alexiou C, Hosein R, Satnarine-Singh N. (2022) Hegemonic sanctions and global economic ramifications in the context of the Russian-Ukrainian conflict: a commentary. Spoudai: Journal of Economics and Business, Volume 72, Issue 1-2, August 2022, pp. 34-55en_UK
dc.identifier.issn1105-8919
dc.identifier.urihttps://spoudai.unipi.gr/index.php/spoudai/article/view/2950
dc.identifier.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/18377
dc.language.isoenen_UK
dc.publisherUniversity of Piraeus, Greeceen_UK
dc.rightsAttribution 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/*
dc.subjecteconomic sanctionsen_UK
dc.subjectRussiaen_UK
dc.subjectUkraineen_UK
dc.subjectconflicten_UK
dc.subjecttradeen_UK
dc.subjectenergy marketen_UK
dc.subjectfood priceen_UK
dc.subjectrare earth metalsen_UK
dc.subjecttheory of hegemonyen_UK
dc.titleHegemonic sanctions and global economic ramifications in the context of the Russian-Ukrainian conflict: a commentaryen_UK
dc.typeArticleen_UK

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