We are already facing many crises due to the arrival of the Covid-19. With the increase in calamity, survival has become very hard these days. With the invention of the new vaccination and adaptation to the changes, we have almost succeeded in making positive progress.
However, it was not too long before Omicron’s impact was reduced. An international crisis emerged due to the conflict between Russia and Ukraine last week.
It was a shocking situation that came in front of the media creating anger and sadness all across the globe. This news impacted all countries individually, whether the country is developed or developing. Countries affected financially, psychologically, and economically by this war include New Zealand also.
Why did Russia invade Ukraine?
After Ukraine’s president, Viktor Yanukovych, was overthrown in 2014 after widespread protests opposing his government, President Putin has regularly condemned the country of someone being taken over by extremists.
Russia replied by taking Crimea’s area supporting separatists against Ukrainian soldiers in a battle that has lost 14,000 people.
Close to the end of 2021, Russia started massing soldiers near Ukraine’s boundaries, although constantly rejecting the claim that it intended to attack. Then, in 2015, Mr. Putin canceled a negotiated peace settlement for the east and declared rebel-controlled areas autonomous.
Russia has strongly opposed Ukraine joining the NATO and European Union, the West’s alliance. NATO has blamed Russia for creating endangerment for this invasion.
Impact on the economy of New Zealand
Putin’s actions have made global consternation. According to experts, the aftershocks would soon hit New Zealand too.
Although New Zealand is relatively separated, it trades with over 100 nations around the globe. As a result, these occurrences would have a significant influence too.
Different businesses have the imports from the other countries.
Due to the conflict, there has been an increase in prices which created an impact on the economy of New Zealand. But these are indirect effects caused as New Zealand is a state that runs independently, getting less affected by other countries.
New Zealand’s response to this conflict
New Zealand has taken several steps in reaction to Russia’s assault of Ukraine, notably imposing a travel restriction on Russian diplomats and restricting diplomatic interactions.
New Zealand will impose a specific travel restriction on Russia and others linked to the Russian invasion of Ukraine. There would be a prohibition on the shipment of commodities to the Russian army and security personnel and a suspension of bilateral foreign office interaction till further announcement.