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The Impact of Geopolitical Conflicts on the Global Economy:A Comparative Analysis of the Russia-Ukraine and Iran-Israel Conflicts

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Authors : Umrah Fatima, Manya Saraf

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Abstract :

This research paper seeks to examine the serious economic implications of the Russia-Ukraine war and the Israel-Iran conflict in comparison, concentrating particularly on their disruptive consequences for global economic activities. However, while most of the extant literature studies the abovementioned geopolitical situations separately, the current paper attempts to bridge a major research gap by comparing them in one single frame of reference. Using the qualitative approach based on the thematic analysis of secondary data
from international sources, the paper reveals that regional tensions result in extensive economic instability in our highly interconnected world. Notable observations suggest that both the disputes have caused serious fluctuations in energy prices, congestion of the seas atnkey strategic chokepoints, and inflationary pressure across the globe. Moreover, it is important to note that the analysis highlights the significant vulnerability of the Global South, where dependency on food, fuel, and raw materials from other countries has made their
currencies devalue and made them vulnerable to food shortages and debt repayment burdens.

Keywords: Geopolitical Conflicts, Global Economy, Russia-Ukraine War, Israel-Iran Conflict, Energy Market, Supply Chain Disruptions, Inflationary Pressures, International Trade Global South, Interdependence.

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