The Caribbean cannot escape the economic and financial consequences of the Russian Federation’s invasion of the sovereign, independent nation of Ukraine. The effects of these consequences are already being felt in higher oil prices (at the time of writing, on March 3, the global oil benchmark, rose to $113.94 a barrel, the highest since June 2014), and they will intensify if the Russian action continues, forcing the world community to show its displeasure through the many sanctions that have been imposed on Russia, not only by countries but also on bodies responsible for international sport.Rightly, Caribbean countries have participated fully in expressing their disapproval of Russia’s infringement of the United Nations Charter, the Charter of the Organization of American States and of international law by its unlawful, unjustified, and unprovoked invasion of Ukraine. On February 24, all CARICOM states jointly issued a statement, making it clear that “the hostilities against Ukraine go counter to the principles of respect for sovereignty, territorial integrity, non-interference in the internal affairs of another sovereign state and the prohibition on the threat or use of force, and the peaceful resolution of disputes, which are the bedrock of this Community”.
