The Russia effect: Putin’s invasion of Ukraine has bleak implications diplomatically & economically. India won’t escape them

News: Russia’s invasion of Ukraine and possible sanctions by the US will impact India adversely.

What are the probable adverse impacts on other countries?

Implications for Europe: If the US supports Ukrainian resistance groups, Europe will see a conflict that can drag out for months, or more, with all kinds of possible consequences.

Implications for the US: The Ukrainian crisis has again shown the limitations of the world’s most powerful country, the US, whose reputation had already taken a hit following its chaotic withdrawal from Afghanistan.

Implications for India

India’s foreign Diplomacy is at a crossroads: India’s relationship with the US-led West is more important than ever before, both diplomatically and trade and investment-wise. Now, India might require a recalibration of its current diplomatic stance related to the Ukrainian crisis.

Impact on Indian Economy: Owing to Sanctions on Russia, the rupee will weaken and the global capital’s flight to safety may hit already affected India’s stock markets even more.

Read more here: https://forumias.com/blog/flashpoint-ukraine/

Source: This post is based on the article “The Russia effect: Putin’s invasion of Ukraine has bleak implications diplomatically & economically. India won’t escape them” published in ToI on 25^th Feb 2022.