COMMENT

De-escalating the tension

The impact of developments in Ukraine on the global economy may be much more far-reaching than initially anticipated. If the European Union and the United States, on the one hand, and Russia, on the other, become embroiled in a vicious cycle of escalating sanctions, it may cause havoc all around the world.

The global economy is in a precarious position and any issue that may affect its operation needs to be approached with realism and self-control.

Making threats and opening up new fronts of conflict is a risky game that makes the world a much more dangerous and unpredictable place. This unstable situation demands some level of cooperation between the West and a stable and powerful Russia at the very least, and there are plenty of international voices calling for the adoption of this stance. We can only hope that these voices will be heeded and that the situation does not escalate any further.

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