Global Geo-Economic Consequences of the Russia-Ukraine War

Global Geo-Economic Consequences of the Russia-Ukraine War

Irakli Kervalishvili
Copyright: © 2023 |Pages: 19
DOI: 10.4018/978-1-6684-8521-7.ch012
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Abstract

Russia-Ukraine war and sanctions, which have been adopted against Russia, have seriously affected on the socio-economic development of Russia and world economy in general. In 2022, GDP of Russia reduced by about 2.1%, but after the entrance into force the sanctions in the field of energy, the damage for Russian economy in the beginning of 2023 have been increased significantly. First of all, those sanctions affected on the increasing the budget deficit of Russia, which prevailed 30 billion USD within the first three months of 2023.
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Introduction: What Does It Mean Geoeconomics?

Geoeconomics is a scientific discipline that studies the economic situation in a particular country, based on various indicators - its geographical location, historical development, culture, in order to determine its level of economic development and place in world politics, taking into account only the level of economic influence. It is closely related to other social and social sciences, therefore it also comes into contact with geopolitics, the study of globalization.

As a political strategy, geoeconomics is a new geopolitics (geopolitical economy), which develops a strategy for increasing the influence of the state from the standpoint of its economic power and ensures the achievement of foreign policy goals, world or regional power by economic means.

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