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

Global trade;
Oil prices;
Supply chain;
Russian-Ukrainian conflict;
Energy market



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

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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:

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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.


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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.

Morecroft, J. D. W. (2017). Enduring Feedback Structure and Long-term Futures for the Up- stream Oil Industry, Systems Research and Behavioral Science, 34 (4), pp. 494-509.

OECD. (2022). Impacts of the Russian Invasion of Ukraine on Financial Market Conditions and Resilience: Assessment of Global Financial Markets. OECD Publishing, Paris.

O’Sullivan M.  L.  (2017).  Windfall:  How  the  New  Energy  Abundance  Upends  Glob- al Politics and Strengthens America’s Power, climate-geopolitics-petrostates-russia-china/

Pandey, D. K., & Kumar, R. (2022). Russia-Ukraine war and the global tourism sector: A 13- day tale. Curr. Issues Tour.

Pereira, P., Basic, F., Bogunovic, I., & Barcelo, D. (2022). Russian-Ukrainian war impacts the total environment. Sci. Total Environ. 837, 155865.

Prohorovs, A. (2022). Russia’s war in Ukraine: Consequences for European countries’ business- es and economies. J. Risk Financial Manage. 15 (7), 295.

Ruiz Estrada, M. A. (2022). How Much Inflation and Unemployment Worldwide Can Generate the Russo-Ukrainian War Crisis?. SSRN

Ruta, M. (2022). The Impact of the War in Ukraine on Global Trade And Investment. World Bank Group, Washington, D.C.

Tollefson, J. (2022). What the war in Ukraine means for energy, climate, and food. Nature 604, 232–233.

UN. (2022). Global Impact of the War in Ukraine: Billions of People Face the Greatest Cost-Of- Living Crises In A Generation. UN global crises response group on food, energy, and fi- nance Brief No. 2.

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