Russia-Ukraine war will continue to impact global economy for years, opine WEF experts

As Russian President Vlimir Putin's intention to end war is t glimpsed in near future, an expert at World Ecomic Forum believes consequence of war will continue to impact global ecomy for years. While speaking at WEF, Vice President for Promoting European Way of Life in European Commission Margaritis Schinas ted that influx of migrants from war-torn nation will t only affect those who are welcoming refugees but, it was alrey impacting globe. same was echoed by former Finnish Prime Minister Alexander Stubb during a panel at World Ecomic Forum.

He stressed that Russian invasion of Ukraine h alrey started impacting inflation, energy prices and food security. Meanwhile, citing UNHCR data, Schinas said that problem has furr inflated as war h displaced over 8 million within Ukraine and forced more than 6 million ors to flee elsewhere. He pitched creating a holistic migration pact to deal with growing number of Ukrainian refugees. According to him, without pact, it forced country to act like firefighters rar than architects.

"Europe will always remain an asylum destination for those who are fleeing war and persecution. This is model of society we stand for. We have welcomed more than 5 million Ukrainian refugees, but we do t yet have a migration pact. This forces us to very often function like firefighters rar than architects," he said. 

Furr, Moldovian Prime Minister Natalia Gavrilița echoed her country has also welcomed a large number of refugees from Ukraine since initial days of Russia's incursion. According to Gavrilița, Moldova has also accepted Ukrainians like Poland but w she too sought a migration pact to deal with situation fairly. 

Russia-Ukraine war

It is worth mentioning that Russia initiated a full-fledged war against Ukraine nearly two days after Russian President Vlimir Putin signed a decree recognising independence of breakaway regions Donetsk and Luhansk. Putin's action came despite West's repetitive warning and speculations about his ill intention to inve Ukraine.

Since n, it has been bombarding several cities in Ukraine, resulting in killing of thousands of civilians. Millions of people fled war-torn country and have been living in neighbouring countries and European nations. Recently, during an interview with a Russian state media, Russian Foreign Minister Sergei Lavrov said, "Moscow is t in mood to wrap up ongoing military operations until goals are accomplished".