Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Mon, 28 Feb 2022 02:20 PM IST
Summary
Russia-Ukraine War Raised Indias Concern: The war between Russia and Ukraine has intensified. On the fifth day of this struggle, Union Finance Minister Nirmala Sitharaman expressed her concern about the impact it would have on India. He said that we are serious about this issue and are considering the import bill.
hear the news
Expansion
Government serious about the problem
In a post-Budget interaction with business and industry leaders in Tamil Nadu, Sitharaman said the government was closely monitoring the evolving situation in the Russia-Ukraine region and assessing the impact of the conflict on the country’s trade. The Finance Minister said that as far as the impact of this war on our immediate imports and exports to Ukraine is concerned, we are deeply concerned about this. The situation in Ukraine will affect many other sectors including edible oils in India. In addition, we are serious about what will happen to our exporters, especially the peasant sector of Russia and Ukraine, from this conflict. He said that we are discussing seriously on both these issues.
essential things will be affected
Nirmala Sitharaman said that the government is already facing an emergency situation and in this crisis, I will have to do a full assessment through various concerned ministries and only then can a clear comment be made on it. He said that however, we have understood this matter very well as it is going to have an impact on the essential things to come. The Finance Minister further said that India is seriously looking into the impact on exports and imports due to the ongoing war between Russia and Ukraine and for this an import bill is also being considered.
Crude oil prices sky high
Significantly, Russian President Vladimir Putin announced military operations on the Ukrainian border last Thursday. After this, Western countries have imposed strict sanctions to stop Putin, terming the decision to attack as wrong. Due to all this, the price of crude oil reached its highest level in eight years and there was an outcry in the stock markets. On Thursday, the price of crude oil had reached a record high of $105 per barrel.