economy/2022/6/8/russia-ukraine-war-threatens-long-lasting-impact-on-global-eco]World economyI look to it that the war affecting the economy of every country and with research about it , Al-Jazeera gave detail of how some countries is affected and if the war did not stop , more of the country will keep suffering. Russia is part of the biggest supplier in oil and the short suorpply is affecting the world. The war is affecting the europe countries hard because two countries in the war are two big supplies to europe. Russia cut supply of oil to euro and that affecting production, gas use. The Ukraine economy supply large amount of iron, steel, ore,stag and ash to the world and euro now in shortage include animal vegetable fats and oil to euro and the other countries.
This is hard time for economy to survive what is your thinking about the collapsing of world economy with highing inflation.
The war has negative impact on Nigeria's wheat supply value chain because Russia is one of the country's primary source of wheat.
Since the start of the war, price of flour has gone high because they is cut in supply of durum wheat.
Though, the government are set to increase their local domestic wheat production, but even so; the action will take some time before it began to yield positive outcome.
My take in this is that, countries should focus on boosting their local domestic production, unless if such resource
/materials isn't present in the locale.