THE INTERNATIONAL COMMUNITY SANCTIONS, ARISING FROM RUSSIA-UKRAINE CONFLICT AND ITS IMPACT ON EUROPEAN ECONOMY

Abstract: This study examined the international community sanctions resulting from the Russia-Ukraine conflict and how these sanctions have impacted the economy of Europe. The study clarified the concept of sanction and conflict. The Ex- Post Facto research design was used for the study. Accordingly, data was sourced through secondary sources like, textbooks, newspaper, journal articles, and internet. Qualitative analysis was used to analyse the data, although tables were presented where required. Evidences drawn from these sources were prudently examined in order to establish a reasonable trend from which conclusions were drawn. The study found out that Germany halted accreditation of the Nord Stream 2 gas pipeline, which was meant to carry natural gas from Russia straight to Europe. The finding also showed that combination of factors is expected to make Estonian economy to go into recession in 2022 as well as making the inflation to reach 10.2 percent, 2.4 percent, and 1.7 percent in 2022, 2023, and 2024, respectively. However, it was concluded that the sanctions that was given to Russia was expected to make Russia to end its war in Ukraine but the sanctions have not ended the war but has affected the economy of most countries in Europe. Keywords: Economy, government, global, military, inflation, energy. Title: THE INTERNATIONAL COMMUNITY SANCTIONS, ARISING FROM RUSSIA-UKRAINE CONFLICT AND ITS IMPACT ON EUROPEAN ECONOMY Author: Tamunopubo Big-Alabo, Adokiye Big-Alabo International Journal of Social Science and Humanities Research ISSN 2348-3156 (Print), ISSN 2348-3164 (online) Vol. 11, Issue 3, July 2023 - September 2023 Page No: 134-144 Research Publish Journals Website: www.researchpublish.com Published Date: 18-August-2023 DOI: https://doi.org/10.5281/zenodo.8261455 Paper Download Link (Source) https://www.researchpublish.com/papers/the-international-community-sanctions-arising-from-russia-ukraine-conflict-and-its-impact-on-european-economyInternational Journal of Social Science and Humanities Research, ISSN 2348-3156 (Print), ISSN 2348-3164 (online), Research Publish Journals, Website: www.researchpublish.co