By Sanjay Kapoor

In the famous Hollywood movie Schindler’s List, made against the backdrop of the Second World War in Germany, the protagonist, Oskar Schindler, a struggling businessman in the best of times, suddenly finds himself in riches and asks himself a question – why is he making money now and never in the past. The penny drops for him when he realises he is making profits due to war.

Now, it’s no different. If the reports from the ground are any indication, then it could be an unending war where Russia may find it difficult to defeat Ukraine, which is gaining funds and assistance from the West. This is more so as there is little interest in the stakeholders to end the war as everyone is making big money except the commoners everywhere.

The Ukraine war is reordering the world economy in a manner not even conceived at the time when it began six months ago on February 24, 2022. What is easy to say is that it has made oil, gas and food grain exporters unimaginably richer and most of the importers of all the above commodities poorer. What it means is that the countries of West Asia, like Saudi Arabia and UAE, are enjoying windfall profits. Russia is also known to be making a billion dollars a day since the war began, and that does not include the proceeds from food grain, fertilisers and the like. Between April and May this year, India came close to making $5 billion from the export of foodgrains but later realised that its harvest was inadequate to meet its export commitments and hastily stopped it. Despite that, it exported about 3.7 lakh tons of food grains.

In the oil and gas sector, Saudi Arabia, for instance, the world’s second-biggest producer of oil, has seen a severe jump in its revenues. The first quarter showed that its GDP had grown more than the figures in 2020.

Read the full story here:- https://theprobe.in/this-war-is-making-the-rich-richer-then-why-should-it-end/