Big blow to the global economy due to Russia-Ukraine war, problems caused by supply chain problems

As the Russian-Ukraine war completed six months, many small and medium companies have been on the verge of closure due to the disruption of natural gas supplies from Russia to European countries. Due to this a large number of people are also at risk of becoming unemployed.

The supply of natural gas from Russia to European countries has been disrupted as the Russo-Ukraine war completes six months. (Representational Image)

Between the completion of six months of the Russo-Ukraine war, the European countries with Russia natural gas Due to disruption in supply, many small and medium companies have reached the verge of closure. Due to this a large number of people are also at risk of becoming unemployed. Six months after the Russo-Ukraine war, its disastrous consequences are beginning to be seen on the global economy. Analysts believe that if the tense situation does not improve, the situation may worsen further.

Huge jump in the price of natural gas

Due to this war, not only has natural gas become very expensive, but its availability has also been negatively affected. If Russia completely cuts off supplies to Europe to avenge Western sanctions, European countries’ troubles will only increase in the coming winter.

Martin Kopp, the head of the Association of German Zinc Companies, said that if the gas supply were cut, all the equipment would be useless. Governments, businesses and families around the world are feeling the economic effects of war. Europe is on the verge of recession due to rising inflation and rising energy costs. Inflation has reached decades high in many European countries.

Exports of fertilizers and grains hindered

High food prices can lead to widespread hunger and unrest in the developing world. The situation has worsened as fertilizer and grain exports from Russia and Ukraine were disrupted. Meanwhile, the International Monetary Fund has slashed its forecast for the global economy for the fourth time in less than a year.

Apart from this, let us tell you that the head of the United Nations World Food Program (WFP) David Beasley has said that the US will buy 1.50 lakh tonnes of grain from Ukraine in the next few weeks. Beasley said that Ukraine would supply the food grains from ports that are not under the control of the ongoing war with Russia. However, it is not yet decided where this grain is to be sent. But it is certain that this grain will be sent to the areas facing food shortage.

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