THE IMPACT OF THE UKRAINIAN CRISIS ON INTERNATIONAL TRADE FLOWS AND FOOD SECURITY

Abstract

The Ukrainian war has greatly changed the concept and landscape of the
global economy, leading to a range of undesirable consequences. This war
crisis has disrupted global financial markets, production, exports and
supply chains, led to a sharp rise in world energy and food prices, as well
as to inflationary pressures, caused a dramatic humanitarian catastrophe,
threatened global food security and increased transport costs, menacing the
global GDP growth itself. This article examines the impact of the Ukrainian
crisis on the functioning of global trade, as well as on the world food
market and food security. It is concluded that the contemporary world is
now days more connected than it has ever been through international trade,
global production, production and supply chains and financial, commodity,
agricultural and other markets. The crisis in one part of the world is
spilling easily and efficiently over to its other parts, causing crucial
negative effects on the global and national economies, energy and food
security, world prices, living standards and the environment.