How the situation in Ukraine affected the economy of Russia Essay

How the situation in Ukraine affected the economy of Russia - Essay Example It’s noteworthy that the essay demonstrates the short review of the main economic points of Russia, namely: exchange rates, interest rates, inflation risks and GDP, chart - CPI inflation, the economic sanctions and gives the brief conclusion of the situation. The Russia-Ukraine crisis has caused grievous economic consequences on the Russian economy, especially due to economic sanctions imposed on Russia by the Western countries. Since the beginning of the Ukraine and Russia conflict, the Ruble has been on a downward trend making it the worst performing currency globally after the annexation of Crimea. The diagram in the paper shows the Ruble has been weakening after the Ukraine Crisis began. The diagram in the paper demonstrate how interest rates have been increasing in the Russian economy after the country’s currency exchange rate started declining and inflation increased forcing the Bank of Russia to increase interest rates a move that drew similar reaction from lenders in the banking system resulting in high interest rates in the domestic market. Since the start of the Ukraine-Russia conflict, inflation rates in Russia have been accelerating in because of a weak currency that has made imports expensive hence raising the rates of inflation in the economy. The paper contains diagrams of inflation in Russia (2014) and Russian GDP. Russia was slapped with economic sanctions due to its entry into the Ukraine conflict by several Western nations such the U.S. and EU concerning trade.

See the instructions Research Paper Example | Topics and Well Written Essays - 500 words

See the instructions - Research Paper Example Two planes hit world trade center that eventually collapsed (Bodden, 25). The events of this day changed the airport security procedures in relation to modern aviation. The terrorist attacks reduced the passenger’s confidence in air travel. There was massive job loss, and many companies went to receivership. A solution was needed fast since the terrorist attack threatened the existence of the industry. Airport security was about to receive a transformation that would remain as a mark in the aviation industry. It was clear that old security systems used previously were not working in the industry. Modern aviation airport security changed from the events of that fateful day. The country was quick to introduce full body scanners backed by the NTC regulations (Price and Forrest, 64). Previously airport security was limited to only x-ray scanners used to search and screen passengers. The procedure proved to be ineffective as 19 terrorists entered passenger planes and led to massive loss of life and over 10 billion $ in property loss. Airport security also started screening passengers using other databases from other arms of the government. The screening is intense for passengers who fail to produce government issued IDs in United States of America. The homeland security introduced the blacklist that contains names of passengers who are not allowed to board planes. The blacklist contains people who are as a potential threat to the passengers and the crew on board. The type of luggage that passengers carry onboard a flight is after discovery of the possibility of liquid bombs aboard airlines. Some of the airlines introduced armed flight marshals to act in case of any danger. The new measures increased the cost of air travel but effectively boost security on airlines. In conclusion, the events of September in 2001 changed the way airport security is conducted concerning modern