Since Russo-Ukranian War, Russia has been heavily criticized by the international community. As a chief oil and energy producing country, Russia’s involvement in series of war not only disrupted the supply chain of raw materials but also increased inflation rate as prices of raw materials soared. During the war, Wagner Group, Russia’s Private Military Company, supported the invasion of Ukraine, noted for its cruelty and military power. Yet, Russia’s operations in Africa were less known despite its ripple economic effect on African countries.
Read MoreOn 24 February 2022, Russia launched a full-scale invasion of Ukraine, escalating the war that started in 2014 (World Economic Forum, 2023).
The invasion has sparked extensive global apprehension and garnered widespread condemnation from numerous nations, prompting them to affirm their commitment to supporting Ukraine by curtailing Russia’s earnings that are used to spearhead their invasion and attacks on the country (World Economic Forum, 2023). This includes the enforcement of an oil embargo, which rendered Russia unable to export oil to various countries.
Read More