The Impact of the Russo-Ukrainian War on Russia's Macroeconomy

Abstract

On February 24, 2022, the largest war in Europe since World War II, the Russo-Ukrainian War broke out. The war on the Russian macroeconomy is one of the key issues in today's research. Researchers have found that sanctions have had a squeeze and impact on the Russian economy, however, there is a lack of a unified explanation and perception of the war in Ukraine on the Russian macroeconomy. Therefore, this paper explores various aspects of the Russian economy by collecting and organizing data on the Russian economy to investigate the impact of the war in Russia and Ukraine on the Russian macroeconomy. It is found that the Russian-Ukrainian war did not hit Russia's resulting sanctions as hard as expected, thanks to the efforts of the Russian government and central bank. However, in many areas such as exports have also contributed to the contraction and decline of the Russian macroeconomy. The war continues and shows no sign of stopping and needs to be watched.