Connor Leach
Staff Reporter
On February 24, 2022, Russian President Vladimir Putin has cause one of the biggest crises in the world since the invasion of Poland in WW2, with the invasion of Ukraine. An attack involving 150,000 Russian soldiers and multiple missile attacks, they have entered Ukraine through several direction from Belarus and the east. But according to analysts, the Russian military may have underestimated the level of Ukrainian soldiers defending, and the amount joining the army. With about 200,00 active Ukraine soldiers.
But why does Russia want Ukraine? While it is unclear what Putin’s exact plans and desires are with Ukraine, analysts have an idea of what It can be. Putin, being 69, is coming near to the end of his political career, he has experienced being an agent in the cold war, while the USSR (Union of Soviet Socialist Republics) was still active. He has said that he regrets the Soviet union’s break-off and has made clear that he does not accept Europe’s post-Cold war security architecture. A USSR rebuild is an option. NATO (North Atlantic Treaty Organization), made up of 30 countries, is trying to expand eastward. But according to Putin, he believes that Ukraine is still a part of Russia. In the past 15 years, Ukraine has been trying to join NATO, by obtaining a membership action plan. If Ukraine were to join NATO, the alliance would be allowed to help defend against Russia expansion.
What is NATO doing about this? On February 24, in the morning when Russia started their invasion, Jens Stoltenberg (Secretary General of NATO) stated Russia’s attack “a brutal act of war.” But because Ukraine is not a member of NATO, NATO will not send any troops to Ukraine.
What does this mean to Canada? With Russia being one of the biggest natural resource producers, the main two being gas and minerals. Canada will see an increase in inflation due to a cutoff in resources from Russia. Then with Russia obtaining Ukraine, Globally, there will be a lower supply and fluctuation in price with agricultural products, with Ukraine being the fifth largest producer in agricultural. The world will see a drop in the stock market. On February 24th, according to MarketWatch “In the first minutes of trading, 93% of the S&P 500 were down, with 71 stocks having fallen 4% or more,”
Sources:
https://www.cnn.com/europe/live-news/ukraine-russia-putin-news-03-01-22/index.html
https://www.wsj.com/articles/russia-ukraine-putin-nato-11643121821