The impact of COVID-19 pandemic on the economic security of Russia and European countries

Abstract

Purpose: The study investigates the impact of the COVID-19 pandemic on Russia and European countries' economic security. Design/Methodology/Approach: The research began with a multifaceted analysis of oil prices before and after the COVID-19 pandemic declaration. It then examined oil demand and air passenger volumes in European countries to impact world oil prices. Findings: The article deals with issues related to oil prices, passenger air transport, multivariate analyzes, and economic security. Practical Implications: Categorized line and bar charts and indicators of dynamics on a fixed base were applied to analyze economic security better. This article focuses on European countries, while the core matter of oil prices is its demand and the number of passengers transported by air in European countries. Originality: The lack of analyzes in the literature related to the impact of the COVID-19 pandemic in Russia and European countries' economic security.