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The economic impact of the Ukranian conflict

Russia-Ukraine crisis

February 2022

War not only involves loss of life and property, it also affects the economies of surrounding countries, and therefore the entire world given the great interdependence in the global economy.

This time, it is about the military aggression of the Russian Federation, which has the third largest army in the world (first the USA, second China) with 900,000 active soldiers and a population of 144 million inhabitants, which however, it has a GDP of 1.4 billion USD, lower than that of Italy and slightly higher than that of Spain. The attacked country, Ukraine, 44 million inhabitants and 0.155 billion USD of GDP, a huge country, which has no possibility of defending itself, as it was impossible for them to oppose the annexation of part of its territory, Crimea last 2014, through a referendum not recognized by the international community.

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