Consulting Engineer Emad El-Sherbiny: The Russian-Ukrainian war has a direct impact on the economy and the global market

Written by: Sally Mazrou

Consulting engineer Emad Hassan El-Sherbiny, Chairman of the Canadian office Egypt for engineering consultancy, said that Russia and Ukraine are among the largest suppliers of wheat, energy and iron in the world, as Europe depends on more than 40% of energy on Russia, and most African and other countries depend on wheat from Russia and Ukraine in addition To the precious metals, imposing economic sanctions in this way on Russia will directly affect the economy and the global market، Since the first moments of imposing the sanctions, we have seen a rise in the prices of bread, grains and foodstuffs, and a crazy rise in the prices of cement and iron, and thus the real estate market will be directly affected

 

Adding that the crisis of high prices resulting from the Russian-Ukrainian war, will include the integrated system, as the rise in energy prices affects transportation and thus the prices of food, construction and building materials to reach real estate, as well as the rise in gold prices and the decrease in the value of the pound in return and the stock exchange indices fluctuated, the entire system will be affected by the rise in prices And the impact will ultimately be borne by the target consumer of the service, and in the real estate sector, there is no doubt that it will witness an increase in prices, especially after the rise in iron and cement prices, even if the Russian-Ukrainian war ends and economic sanctions against Russia are lifted