Today, the 24th of February marks the direct invasion of Ukraine by Russia. Russian President Vladimir Putin announced a military operation in Ukraine early Thursday. Putin claims his actions are self-defense against threats, that Moscow had no plans to occupy Ukraine. “we do not plan to impose ourselves on anyone” he insisted as he addressed Russian state television.
Ukraine’s President Volodymyr Zelensky introduced martial law across the country on Thursday, urging citizens to remain calm. Earlier, he said he had tried to call Putin on Wednesday but was unsuccessful.
The Russian invasion of Ukraine dates back to February and March 2014, Russia invaded and subsequently annexed the Crimean Peninsula from Ukraine. However, Russia withdrew its forces from Southern Khersin in December 2014, since Russian control over Crimea was established in 2014, the peninsula has been administered as part of the Russian Federation except for the Northern area of Arabat Spit and Syvash which are still controlled by Ukraine.
The 2014 Crimean war focuses on the status of Crimea and parts of the Donbas, which are internationally recognized as part of Ukraine.
Its important to note that the European Union, and United Nations has come out clearly condemning the invasion calling it uncalled for war. Australia which currently is the largest contributor of UN has sanctions under way. “we denounce what are unilateral hostile actions in Ukraine. Russia is Flagrantly breaching international law and the UN Charter. Russia has chosen war.” Australia’s Prime Minister Scott Morrison condemned and called Russian Invasion “brutal” and “unprovoked”. Morrison added that new sanctions could target more than 300 members of Russian Parliament. Other European countries are yet to comment and act probably with more stringent sanctions or nothing
The invasion already saw European stocks fall sharply and expected to fall more after Russia’s attack on Ukraine, this definitely may force other states to join in to sanction.
Africans states more likely to be affected in terms of increase in petroleum prices, a crisis that already started several months ago. Uganda being one of the most affected considering the inflated fuel prices which has directly inflated prices of commodities.
Though other Members of Parliament link increase in commodity prices to the death of the BOU Governor Emmanuel Tumusiime Mutebile, that left a vacuum in economic leadership, it’s imperative to note that probably the increase in fuel prices could be linked to the fact that the country has no fuel reserves and has failed to regulate fuel prices.
For the commoners, unless government comes out with viable solution, we should expect inflation to increase even more. Where there’s war, economic crisis is bound to happen. It’s sad though that most states, Uganda inclusive just re-opened the economy after several lockdowns resulting from Covid-19 with expectations of recovery.