IMPACT OF THE RUSSOUKRAINIAN WAR ON BLACK SEA TRADE: GEOECONOMIC CHALLENGES

This paper investigates the strategic importance of the Black Sea region in the context of the ongoing conflict in Ukraine. Focusing on trade dynamics, geopolitical actors, and regional cooperation, the study analyzes the region's transformation and the resulting implications for global trade....

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Bibliographic Details
Published inEconomics & sociology Vol. 17; no. 1; pp. 256 - 279
Main Authors Nate, Silviu, Colibăşanu, Antonia, Stavytskyy, Andriy, Kharlamova, Ganna
Format Journal Article
LanguageEnglish
Published Ternopil Centre of Sociological Research (NGO) 01.01.2024
Subjects
Agricultural commodities
Coasts
Cold War
Cooperation
Decades
Energy resources
Geopolitics
Grain
International trade
Invasions
Regions
Role conflict
Sanctions
Supply chains
Trade relations
Trends
Romania
United States > US
Europe
Africa
Ukraine
Black Sea
Russia
Middle East
Armenia
Azerbaijan
Turkey
China
Georgia
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Summary:This paper investigates the strategic importance of the Black Sea region in the context of the ongoing conflict in Ukraine. Focusing on trade dynamics, geopolitical actors, and regional cooperation, the study analyzes the region's transformation and the resulting implications for global trade. The paper examines how the conflict has redefined trade relationships among Black Sea nations and major powers. For this purpose, trend models are evaluated for three-time samples for the export and import of products of 7 countries of the Black Sea Basin in both nominal and relative dimensions. In total, the evaluation and analysis encompass 1764 econometric models. Noteworthy trends include the evolving roles of the EU, the Middle East, and Russia, the potential resurgence of Ukraine, and Turkey's mediating role. The post-conflict landscape could witness heightened Western influence and continued Chinese engagement.
ISSN:2071-789X
2306-3459
DOI:10.14254/2071789X.2024/17-1/16