World Trade Organization
Discussing the global impact of the
Russo - Ukraine War on trade
The World Trade Organization, established on 1 January, 1995 is mainly concerned with the regulation and facilitation of international trade. The Russo - Ukraine War, which has devastated and displaced thousands of people in both countries, has impacted trade all over the globe. Both Russia and Ukraine are both important suppliers of food, energy and fertilizers. The war has further disrupted the world wide supply chain. Ukraine has a significant comparative advantage in sunflower seeds, maize, barley and wheat which is directly affected by the Russian invasion. Russia has been economically shunned by numerous countries who are against the Ukrainian invasion. This has influenced the daily lives and standard of living of Russians. Globally, higher prices of fuel have reduced the real income, increased transport expenses and foreign trade with a greater impact throughout the continent of Europe. It is now up to you to find a way to deal with the issue at hand and bring the world closer to trade stability.