Russian economy is further isolated by the global economy

In addition to the economic sanctions - United States and its allies are stripping Russia from its normal trade partner status.

As the situation worsens on Russia and Ukraine's borders, countries continue to use economic weapons to retaliate. The Russian-Ukraine crisis has been renamed and is now called Russia's invasion on Ukraine - rightfully so. Russian troops have taken over urban cities, hospitals have been shelled, more than two million people have fled Ukraine, and Russia has ceased Europe's second-largest nuclear plant.

Henceforth, the situation is dire.

In retaliation US and its allies have taken a vote to isolate the Russian economy and strip multiple links it has to the global economy. The European Union and 7 other countries have collectively approved the usage of stricter sanctions against Russia. Allowing the imposition of higher tariffs on Russian imports, and restricting the Russian government from borrowing funds from multilateral financial institutions such as the International Monetary Funds and the World Bank.

The United States has banned niche imports of liquor and diamond, which would amount to a $1 Billion annual loss for the Russian economy. The various trade restrictions remain unique to every nation and vary in intensity/impact.

These strict sanctions result from Russia being stripped from its preferential trade status. The preferential trade status immunised Russia from targeted tariffs and other state-specific restrictions. However, that mandate has been lifted amongst the growing war in Ukraine.

While the decisions are being made in the "good" light - we must realise that this is not a sustainable strategy. The European Union has been one of the largest Russian oil, mineral and wood trade partner - by imposing restrictions - the European nations would face long-run economic suffocation.

The United States can continue to do so as it has not engaged in large trades with the Russian economy. Moreover, the larger reason to second such sanctions is more symbolic.

The impact of these sanctions would add a considerable amount of pressure on the economy's value and the livelihood of the daily man. The food prices in Russia have almost doubled, while the stock market remains shut, and majority businesses are slumped due to closing supply chains.

Conclusively, we should realise that the economic sanctions are a bold short-run move. However, the sanctions are simultaneously throwing the European Union under the bus. Therefore, a different and permanent solution is to be sought as Ukraine is urged to begin a second round of negotiations with Moscow. Furthermore, a more sustainable solution would be hoped for while the West-world attempts to suffocate the Russian economy.

Essentially, a lot rides on the second round of negotiations, time will tell what the outcome is.

Moreover, as a closing note, we should not ignore the hypocrisy "great" nations showcase. Several episodes of similar magnitude have been arguably funded/ignored by our "great" nations. Syria, Israel-Palestine, and Afghanistan being some of the few victim locations.

So - it is still a bit too soon to know where our hearts truly are.

Nonetheless, I will try to keep you updated on this invasion to the best of my ability.