Berliner Boersenzeitung - Russian invasion of Ukraine upends international relations

EUR -
AED 4.243687
AFN 80.258579
ALL 97.948265
AMD 440.592197
ANG 2.067962
AOA 1058.465478
ARS 1362.804464
AUD 1.778285
AWG 2.082842
AZN 1.968988
BAM 1.955765
BBD 2.322859
BDT 140.58751
BGN 1.96051
BHD 0.433992
BIF 3425.439333
BMD 1.15553
BND 1.477574
BOB 7.949859
BRL 6.406145
BSD 1.15048
BTN 98.998247
BWP 15.463726
BYN 3.764933
BYR 22648.378878
BZD 2.310959
CAD 1.569961
CDF 3324.458889
CHF 0.938796
CLF 0.027884
CLP 1070.051049
CNY 8.298556
CNH 8.307576
COP 4778.715365
CRC 579.88973
CUC 1.15553
CUP 30.621533
CVE 110.263047
CZK 24.84493
DJF 204.866372
DKK 7.461301
DOP 67.948797
DZD 150.258339
EGP 57.438983
ERN 17.332943
ETB 155.208151
FJD 2.59792
FKP 0.850086
GBP 0.852443
GEL 3.166602
GGP 0.850086
GHS 11.84979
GIP 0.850086
GMD 81.469282
GNF 9968.823444
GTQ 8.840843
GYD 240.695737
HKD 9.070231
HNL 30.026468
HRK 7.537177
HTG 150.877328
HUF 402.707866
IDR 18834.322544
ILS 4.183484
IMP 0.850086
INR 99.58874
IQD 1507.073308
IRR 48647.793814
ISK 144.037202
JEP 0.850086
JMD 184.196738
JOD 0.819316
JPY 166.518785
KES 148.637368
KGS 101.051502
KHR 4612.918301
KMF 492.837731
KPW 1039.948197
KRW 1579.771091
KWD 0.353847
KYD 0.958683
KZT 590.089549
LAK 24822.560372
LBP 103080.774354
LKR 344.473899
LRD 230.095925
LSL 20.704233
LTL 3.411979
LVL 0.698969
LYD 6.285889
MAD 10.518914
MDL 19.701651
MGA 5194.907994
MKD 61.53391
MMK 2425.72657
MNT 4133.999506
MOP 9.301035
MRU 45.673191
MUR 52.588586
MVR 17.800977
MWK 1994.864669
MXN 21.898152
MYR 4.905805
MZN 73.89655
NAD 20.704233
NGN 1782.335411
NIO 42.33925
NOK 11.454538
NPR 158.397195
NZD 1.920457
OMR 0.444022
PAB 1.15048
PEN 4.152526
PGK 4.805915
PHP 64.814084
PKR 326.153924
PLN 4.273513
PYG 9179.837417
QAR 4.196726
RON 5.027136
RSD 117.197924
RUB 92.187067
RWF 1661.270578
SAR 4.337388
SBD 9.645657
SCR 16.420505
SDG 693.899733
SEK 10.959036
SGD 1.481278
SHP 0.908065
SLE 25.479855
SLL 24230.880068
SOS 657.488355
SRD 43.364756
STD 23917.128362
SVC 10.066822
SYP 15023.749872
SZL 20.690634
THB 37.444978
TJS 11.619594
TMT 4.044353
TND 3.40414
TOP 2.70637
TRY 45.531654
TTD 7.801862
TWD 34.111657
TZS 2973.947329
UAH 47.720955
UGX 4145.926572
USD 1.15553
UYU 47.299162
UZS 14617.741108
VES 118.057029
VND 30130.432615
VUV 138.103265
WST 3.030441
XAF 655.945383
XAG 0.031814
XAU 0.000336
XCD 3.122877
XDR 0.815786
XOF 655.945383
XPF 119.331742
YER 281.198532
ZAR 20.713272
ZMK 10401.156591
ZMW 27.812507
ZWL 372.080039
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Russian invasion of Ukraine upends international relations
Russian invasion of Ukraine upends international relations

Russian invasion of Ukraine upends international relations

Russia's war against Ukraine is a week old, but its consequences are already reverberating across the globe: it has upended international relations, left Moscow isolated, united a previously divided West, and raised the specter of a nuclear standoff.

Text size:

- Russia, a 'pariah' state -

Moscow's offensive marks a turning point for the whole world.

Above all, Russia's attack shattered "the hope that post-Cold War Europe would be spared a large-scale land war," said Ali Wyne, Senior Analyst with Eurasia Group.

Europe, the United States and United Nations Secretary-General Antonio Guterres came together to denounce Russia's attack on its neighbor as a flagrant violation of the international rules-based order built after World War II.

Punishment was quick and painful.

From crippling Russia's financial system, to slapping penalties on its oligarchs and President Vladimir Putin himself, to banning Russia from European airspace and major sports competitions, the West has unleashed an unprecedented cascade of sanctions on Moscow.

"Going forward, Russia will be a pariah, and it's hard to see how they can restore anything resembling normal interactions in the international system," said Sarah Kreps, professor at Cornell University.

- NATO awakens -

In 2019, French President Emmanuel Macron declared that NATO was experiencing "brain death," riven by disagreements between members and belittled by Donald Trump.

When Joe Biden was elected, he sought to breathe new life into the alliance, hoping to rely on NATO in his standoff with China. That prompted more internal divisions, with some members saying that confronting Beijing was not part of NATO's mission.

Born at the start of the Cold War with the aim of protecting Europe from the Soviet threat under the US nuclear umbrella, the transatlantic military alliance is now rediscovering its purpose -- and its key enemy -- by stepping up against Moscow.

"Russia's invasion has strengthened NATO, deepened transatlantic alignment, and, perhaps most notably, compelled Germany to reverse its longstanding stance on shipping lethal weapons to conflict zones," said Wyne. "Whether greater short-term Western cohesion yields a shared long-term approach to dealing with Moscow remains an open question."

- Europe re-arming -

French diplomat and economist Jean Monnet, who played a significant role in rebuilding Europe after World War II, famously said that Europe will be born out of crises as well as out of its solutions to those crises.

His words ring true today.

Heeding a longstanding call by Paris to beef up Europe's military might, the European Union's 27 members approved a total of half a billion euros in defense aid to Ukraine.

In a dramatic move, Berlin broke with its long-standing doctrine when it announced that it would send lethal aid to Ukraine.

And German Chancellor Olaf Scholz declared that his country, often criticized by the US as an understudy in NATO for its small defense budget, would significantly boost military spending to modernize its army.

- Neutrality picking sides -

"Neutrality is not indifference."

This is what Swiss President Ignazio Cassis said when he announced that his country would back all of the EU sanctions against Russia, in a major break with its longstanding tradition of neutrality and its reputation as an international banking center.

And Finland and Sweden, traditionally non-aligned with NATO, are moving closer in its direction.

Japan, South Korea and Singapore condemned Russia's invasion, although India and the United Arab Emirates have not.

- China's 'awkward position' -

But Russia has its own allies.

Moscow has the support of Venezuela's Nicolas Maduro. And Chinese President Xi Jinping offered Putin his support shortly before Russia invaded Ukraine.

It remains to be seen to what extent China will help Russia offset the effect of Western sanctions.

And China remains cautious. It chose to abstain, rather than veto a UN Security Council resolution "deploring" Russian aggression in Ukraine while expressing "deep regret" to Kyiv over the war.

"Russia's invasion has placed China in an awkward position," said Wyne, the Eurasia Group analyst.

"The more protracted and bloody the conflict becomes, the more challenging it will grow for China to balance its support for core Russian positions (such as opposing NATO expansion) and its desire to avoid incurring further transatlantic opprobrium."

- Nuclear weapons no longer taboo -

Last week Putin put his strategic nuclear forces on alert, causing ripples across the globe.

"Russian leaders have now repeatedly made not-so-veiled references to their nuclear arsenal in the hopes of deterring the West from bolstering Ukrainian defenses," said Kreps from Cornell University.

"The problem is that its approach to doing so has eroded the nuclear taboo that's been in place for decades."

(K.Lüdke--BBZ)