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Why Is Russia Inclined to Stop the War in Ukraine?

Following a phone call between Chinese President Xi Jinping and Ukrainian President Volodymyr Zelensky, the Kremlin recently declared its openness to any actions that might lead to a settlement in the war in Ukraine.

Russia is now more inclined to stop the war for a number of reasons. The effect of Western sanctions on the Russian economy is one of the main causes. Since Russia's annexation of Crimea in 2014, sanctions have been in place and have significantly harmed Russia's economy and prestige. The Russian leadership is aware that it cannot continue to disregard the effects of the sanctions on the country's economy, and that a peaceful resolution of the conflict is necessary to lift them.

Another factor is the rising expense of the conflict for Russia. While Moscow has had some success in eastern Ukraine, there have also been significant setbacks. Russia has a costly and destabilising presence in the region as a result of its inability to completely secure and occupy the lands it has seized.

Another important development is that China is currently taking part in mediation. Russia's largest commercial partner is China, and Beijing's involvement may give Moscow a chance to expand its influence in the region while simultaneously preserving good relations with Beijing.

Despite their willingness to communicate, Russia and Ukraine continue to have very different demands. Peace talks cannot begin, according to Ukraine, until Russia is driven from all of the areas it occupies, including Crimea. On the other hand, Moscow has insisted that any agreement must acknowledge the Russian sovereignty over the region it annexed last year.

The fact that Russia is open to talks, despite the fact that a peaceful settlement to the situation is far from likely, is a good development. Although it is unclear whether China's involvement will open up new possibilities for resolving the conflict, the fact that both parties are amenable to mediation is a positive development.

Both Russia and Ukraine have suffered serious economic and diplomatic losses as a result of the ongoing conflict. Losing its coal mines in the Donbas region, which were a key source of revenue and jobs for the nation, has been one of Ukraine's biggest economic losses. Due to its dependence on imported coal as a result of the closure of these mines, Ukraine's energy expenses have dramatically increased. Due to investors' reluctance to place money in a nation that is engaged in warfare, there has been a substantial fall in foreign investment as a result of the war.

The financial losses have also been substantial for Russia. Western sanctions that have targeted the nation's financial and oil sectors have severely hurt it. Due to these sanctions, Russia now has far less access to foreign capital, which makes it more challenging for the nation to finance its economy. As a result of having to pay for its military presence in Ukraine and back the separatist rebels in the Donbas region, Russia's military and economic resources have also been severely depleted as a result of the conflict.

It is imperative that the conflict between Ukraine and Russia halts before it is too late. Significant economic and diplomatic losses have already been incurred as a result of the war, and the longer it lasts, the more harm it will produce. Both nations must acknowledge that the conflict is not in their best interests and that the only way to proceed is through a peaceful conclusion.


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