The Challenging Consequences of the Russian-Ukrainian Conflict and a New Transition in Global Trade, Energy Market and Oil Prices

Anis Benabed – Doctoral School of Economics and International Business, Bucharest University of Economic Studies, 6 Romania Square 010374, Bucharest, Romania

Andrei Bulgaru – Doctoral School of Economics and International Business, Bucharest University of Economic Studies, 6 Romania Square 010374, Bucharest, Romania

Abstract

This paper analyzes and presents how far the challenging conse­quences of the Russian-Ukrainian conflict have impacted global trade, the energy market and oil prices. The Russian-Ukrainian conflict has affected the world’s stability and economy by putting so many new challenges and obstacles to supply chains and industries. Due to the escalations of the con­flict, the energy market has known big changes, especially after oil prices that have been rising to approximately $ 110 per barrel since March 2022.

In our methodology, we based on data analysis and a review of the previous literature where the research question is: “how far the consequences of the Russian-Ukrainian conflict could introduce a new transition in Global trade, energy market and Oil prices?”

The results show that the conflict caused a big rise in Oil prices to their high­est level in 14 years and this has led to high rates of inflation, an econom­ic downturn globally and low access to food and energy in many countries.

The conclusions show that the dependence on energy after the start of the escalation and the instability of imports and exports have boosted a new transition in global trade, the energy market and oil prices

LIMEN Conference

8th International Scientific-Business Conference – LIMEN 2022 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – CONFERENCE PROCEEDINGS, Hybrid (EXE Budapest Center, Budapest, Hungary), December 1, 2022,

LIMEN Conference proceedings published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia

LIMEN Conference 2022 Conference proceedings: ISBN 978-86-80194-66-0, ISSN 2683-6149, DOI:  https://doi.org/10.31410/LIMEN.2022

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

Suggested citation

Benabed, A., & Bulgaru, A. (2022). The Challenging Consequences of the Russian-Ukrainian Conflict and a New Transition in Global Trade, Energy Market and Oil Prices. In V. Bevanda (Ed.), International Scientific-Business Conference – LIMEN 2022: Vol 8. Conference proceedings (pp. 53-59). Association of Economists and Managers of the Balkans.  https://doi.org/10.31410/LIMEN.2022.53

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Additional reading

 Esfandabadi, Z. S., Ranjbari, M., Scagnelli, S. D. (2022). The imbalance of food and biofu- el markets amid Ukraine-Russia crisis: A systems thinking perspective Biofuel Research Journal, 9 (2), pp. 1640-1647.

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