Answer to Question #316707 in Macroeconomics for A.vee

Question

The recent global development of Russia invading Ukraine has led to USA and European countries imposing sanctions on Russia. Given that Russia is a major player in OPEC, discuss the implication of this in South African economy.

Answer 1

Due to more sanctions still on the way for Russia, South African has raised concerns on the continuous surging of oil prices. Due to this continuous increase in oil prices, the South African may experience low or at all no growth of her economy.