Tensions between Ukraine and Russia have Grown
Image Credit: Deccan Hearld
Tensions between Ukraine and Russia have Grown; Know about the Five Significant Ramifications for India
Once again, tensions between Ukraine and Russia have risen. The situation has deteriorated once more into a state of war. According to the United States, an additional 1.5 lakh soldiers have been deployed along the Ukraine-Russia border. In the middle of all of this, a crucial concern on the minds of Indian citizens is what will be the impact of a war between these two countries on India? Let us explain each one's impact one by one.
1. Far-reaching complicated or unexpected results of an action
Let's start with its far-reaching consequences. India is yet to make a judgment about who it will work with. If a war breaks out between Ukraine and Russia, Ukraine will be forced to take a stand. If India backs Russia, America will be enraged. Because the United States is continually pressuring Russia to end the conflict. If India supports Ukraine because of the United States, its relations with Russia would deteriorate, which will be unsatisfactory in the eyes of China.
Tensions between Ukraine and Russia have Grown
2. It will affect Stock market repercussions
Due to the sound of war, stock markets all around the world have been severely impacted in recent days. Its impact has been seen in the Indian stock market as well. If a war breaks out, the stock market could plummet. Thousands of crores of rupees could be lost as a result of this.
3. Crude oil prices are expected to climb
If Russia and Ukraine go to war, the price of crude oil is expected to rise from $ 100 to $ 120 per barrel. Aside from that, the natural gas supply will be impacted. In such a case, petrol and diesel prices in India may reach new heights.
Tensions between Ukraine and Russia have Grown
4. Trade relations with Ukraine will be harmed
India's commerce with Ukraine has risen dramatically in recent years. According to the research, the two countries will conduct business worth $ 2.69 billion in 2020. Ukraine had exported $ 1.97 billion to India throughout this period. India imports edible oil, fertilizers, nuclear reactors, and boilers from Ukraine. In the event of a war, all of these will be affected.
5. Pakistan will be given an opportunity
If the relations between India and Russia are harmed as a result of the conflict between Ukraine and Russia, Pakistan will profit, which will be detrimental to India. China is already allied with Pakistan. Pakistan has been attempting to improve bilateral relations with Russia for some time. It will not be helpful for India if Russia moves closer to Pakistan. India's commerce with Russia is likewise measured in billions of dollars.