Phil Cannella and Joann Small Explain Just How Impacting International Conflict Can Be On Your Retirement
Threats continue to be exchanged among world powers over the future of Ukraine. The US and the EU (short for European Union), have promised to collapse Russia’s economy if it continues to meddle in Ukraine’s affairs. Russia has responded with promises of its own, even going as far as to say that the Russian government is prepared to seize assets from US and EU companies that are on Russian land.
What we are watching unfold is an entirely new type of warfare; what could become an economic world war.
In an attempt to prevent further violence surrounding the conflicts in Ukraine, world leaders are turning to economic weapons as a means to pursue their enemies.
Russian President Vladimir Putin has shown little response to the threats US and EU leaders have sent, and has even sent military forces to take control of parts of Ukraine just one day after Obama warned him to stay out of Ukraine’s affairs.
The recent actions by Russia may be forcing the hand of the US and the EU to act on their promises to cause economic harm to Russia by way of seizing trade, banning visas and cancelling exports to Russia.
Although Russia likely faces the most economic damage if these sanctions take place, no market is safe from the turmoil that is sure to follow. In today’s global economy, all nations are so economically intertwined that if one should fall, the rest will be dragged down along with it.
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