Impairing Globalization: The Effects of the Russo–Ukrainian War, Western Economic Sanctions, and Asset Seizures on the Global Economic Order

Abstract

The Russo-Ukrainian War has profoundly reshaped the dynamics of globalization by disrupting international trade, financial systems, energy markets, and geopolitical relations. This study examines how the conflict, the economic and political consequences of sanctions and asset confiscations, has challenged the principles of economic interdependence and global integration. The research explores the effectiveness of sanctions as a tool of economic statecraft and analyzes their implications for global supply chains, cross-border investments, financial stability, and international legal frameworks. Furthermore, it investigates how these measures have accelerated economic fragmentation, encouraged the formation of alternative trade and payment systems, and intensified geopolitical polarization. By assessing the economic and political consequences of sanctions and asset confiscations, the study highlights the emerging trends of deglobalization, strategic decoupling, and regional economic realignment. The findings suggest that while sanctions have imposed significant costs on Russia, they have also generated unintended consequences for global markets and the broader international economic order. The paper contributes to understanding the evolving relationship between conflict, economic coercion, and the future trajectory of globalization in an increasingly multipolar world.