Summary:

This thesis explores how global governance and international risk management mechanisms are adapting to an evolving world order marked by increased revisionism and intensified competition among great powers. It centers on the Russia-Ukraine conflict as a contemporary and multifaceted case study, examining the ways in which this war has acted as a catalyst for geopolitical, institutional, and strategic transformation. The conflict not only reflects the return of high-intensity warfare in Europe but also reveals the limitations and resilience of the current international governance system.

The central aim is to investigate how global institutions and risk management frameworks respond to complex and overlapping crises—ranging from security threats and energy dependency to institutional paralysis. The thesis focuses particularly on the roles and interactions of key international actors and mechanisms such as the United Nations (UN), NATO, the G20, and the Organization for Security and Co-operation in Europe (OSCE), evaluating their effectiveness in managing the Russia-Ukraine crisis.

The theoretical foundation of the study is rooted in International Relations (IR) theory, integrating insights from realism, neoliberal institutionalism, and constructivism. These perspectives allow a multidimensional analysis of state behavior, institutional efficiency, and the normative structures that shape global order. The study also draws upon key conceptual frameworks such as “global governance,” “revisionism,” and “strategic competition,” to structure its inquiry.

Methodologically, the research adopts a qualitative case study approach. It employs institutional analysis combined with a PESTLE framework—categorizing risks into Political, Economic, Social, Technological, Legal, and Environmental dimensions. This dual analytical lens enables a comprehensive mapping of the crisis’s impacts across domains and helps assess the adaptive capacity of global governance structures.

The empirical section provides a chronological and strategic breakdown of the Russia-Ukraine conflict, analyzing key turning points, external responses, and institutional interventions. It identifies how this conflict redefines the role of international law, norms of sovereignty, and collective security frameworks. The study further explores how energy security, economic sanctions, information warfare, and the weaponization of interdependence have reshaped the nature of contemporary risk.

In its concluding analysis, the thesis evaluates the strengths and shortcomings of existing governance mechanisms. It argues that while institutions like NATO have demonstrated operational adaptability, others such as the UN have shown significant limitations in crisis response. The study offers forward-looking proposals aimed at enhancing institutional resilience, reinforcing legal norms, and improving multilateral coordination in risk management.

Ultimately, the research underscores the urgent need to recalibrate global governance for a multipolar and volatile era. It advocates for reforms that not only address immediate geopolitical tensions but also foster long-term conflict prevention, strategic stability, and cooperative security architectures.

Keywords: Global Governance, Risk Management, Russia-Ukraine Conflict, Great Power Competition, International Institutions

JEL classification codes:

F51 – International Conflicts; Negotiations; Sanctions

F53 – International Agreements and Observance; International Organizations

F02 – International Economic Order and Integration

H56 – National Security and War

D74 – Conflict; Conflict Resolution; Alliances; Revolutions