new Delhi: Russian President Vladimir Putin has announced a special military operation against Ukraine on Thursday. After that the situation will get worse. The echo of the war in Russia-Ukraine has reached the world. After which there is also a fear that the war starting with Russia and Ukraine may not turn into the Third World War. At the same time, experts believe that, in the face of war, there will be a situation of huge loss in the world, as well as there will be a huge impact on many things.
Actually, Russia has prepared to attack Ukraine. President Vladimir Putin on Thursday announced a military operation in Ukraine (Ukraine-Russia War), claiming it was aimed at protecting civilians. Putin said in a televised address that the action was being taken in response to threats posed by Ukraine. He said that Russia’s goal is not to occupy Ukraine. Putin said Ukraine’s “regime” was responsible for the bloodshed. Putin warned other countries that any attempt to interfere with Russian action “will have consequences they have never seen before”.
Our plans (of special military operation) in Ukraine do not include occupying Ukrainian territory. We will aim at demilitarization and denazification of Ukraine : Russian President Vladimir Putin in his address pic.twitter.com/YZLh3PWQw3
— ANI (@ANI) February 24, 2022
Stock market fall after Putin’s announcement
Heavy selling in global stock markets after Russia announced the launch of military operations in Ukraine had an impact on domestic markets as well. The Sensex and Nifty lost over 2.5 per cent in early trade. During this period, the 30-share BSE Sensex fell 1,461.35 points or 2.55 per cent to 55,770.71, while the NSE Nifty was down 430.10 points or 2.52 per cent at 16,633.15.
Huge losses in all Sensex shares
All the Sensex shares were trading with heavy losses in the early trade. The biggest losers were Airtel, IndusInd Bank, Tech Mahindra and SBI. Russian President Vladimir Putin announced the launch of a military operation in Ukraine, triggering a massive sell-off in world markets.
Sensex slips 1,428.34 points, currently at 55,803.72
(This is an immediate opening, post the announcement of a ‘military operation’ in Ukraine by Russian President Vladimir Putin) pic.twitter.com/uTqXp9r7Bx
— ANI (@ANI) February 24, 2022
Crude oil rises to US$ 100 per barrel for the first time in eight years
Brent crude oil rose to US$100 a barrel for the first time in eight years in the wake of the Ukraine-Russia crisis. Foreign institutional investors sold shares worth Rs 3,417.16 crore on Wednesday, according to provisional data from the stock market. In fact, amid the Ukraine crisis, the price of crude oil has reached the highest level in the international market. Earlier on Tuesday, crude oil had gained 2.03 percent. After that the price has increased continuously. Experts believe that, crude oil prices will increase and the prices may increase further. On the other hand, if crude oil is expensive in the international market, then it will have a direct impact on the domestic market as well. Due to which the prices of petrol and diesel in India may also increase.
Indian rupee also recorded a fall
The rupee fell 55 paise to 75.16 against the US dollar in early trade on Thursday following Putin’s announcement of a military operation in Ukraine. Similar figures were seen in the past days after the tensions in Russia and Ukraine for the past days. The rupee fell by 24 paise to 74.79 against the US dollar in early trade on Tuesday. On the other hand, in early trade on Wednesday, it gained 21 paise to Rs 74.63 per dollar. The rupee opened at a strong level of 74.64 against the dollar in the inter-bank foreign exchange market. After some time it got better and reached 74.63 rupees per dollar. Sriram Iyer, Senior Research Analyst at Reliance Securities said that the Indian currency opened strongly on Wednesday. The rupee was supported by the softening of Brent crude prices compared to a day earlier. However, currencies of most Asian and emerging economies remain weak against the US dollar. The reason for this is that again a cautious attitude can be seen among investors.
Nifty at 16,647.00 currently, down by 413.35 points
— ANI (@ANI) February 24, 2022
gold too expensive
According to a report, gold prices on Wednesday fell by Rs 315 to Rs 50,013 per 10 grams in local futures trade as participants offloaded their positions amid a weak global trend. On the Multi Commodity Exchange, gold for delivery in April fell by Rs 315, or 0.63 per cent, to Rs 50,013 per 10 grams. It had a business turnover of 11,129 lots. Market analysts said offloading of positions by investors in view of a weak trend in global markets mainly led to the fall in gold futures prices. Globally, gold fell by 0.48 per cent to $1,898.2 an ounce in New York.
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Other things can have a huge impact
Experts believe that India has good relations with both Ukraine and Russia. On the other hand, if the crisis between Ukraine and Russia deepens, then it can also have a direct impact on India’s trade relations with Ukraine and Russia. In a report, quoting data from Trading Economics, it has been told that in the year 2020, exports between Ukraine and India were $ 1.97 billion. About $ 720.21 million was imported between the two countries. Apart from this, in the same year i.e. in the year 2020 itself, India did import business of $ 5.94 billion to Russia and $ 2.12 billion to Ukraine. The data shows that, in the event of a war, both imports and imports can be affected.
Trade between Ukraine, Russia and India
According to media reports, in the year 2020, Ukraine had imported mineral fuel, oil, machinery, nuclear reactors and boilers, oil sheds, grain sheds and many types of fruits from India. At the same time, Russia had exported fertilizers, vegetable fats and oil, besides electric and electrical equipment from India.