Globalisation a casualty of Russia-Ukraine war

The prolonged war in Ukraine and considerable hardening of attitudes on both the sides can hurt global trade and economy

Last week, many leaders of Europe and America met at Brussels and decided to impose sanctions on more Russian individuals and defence entities. They also decided to reduce the dependence of Europe on Russia for fossil fuels. The idea is to cripple the ability of Russia to finance its war efforts. However, Russia has remained defiant and continued its war in Ukraine.
 

The relations between Russia and the alliances led by the United States have deteriorated so much that the probability of a diplomatic solution to resolve the issues has diminished considerably, although it cannot be ruled out. The prolonged