Effects of Russia-Ukraine conflict on Asian Economies
2 years, 7 months ago

Effects of Russia-Ukraine conflict on Asian Economies

Hindustan Times  

The ongoing Russia-Ukraine conflict has a great potential to hamper the post-Covid economic recovery of the Asian/Southeast Asia region. When it comes to the Southeast Asian region, particularly the Association of South East Asian Nations nations, they do not have direct economic links with Russia, however, there has been a surge in commodity prices, especially oil, which has become fairly expensive, thereby augmenting the producer and consumer price inflation in the region. All of the eight South Asian economies are net oil importers hence making them vulnerable to the oil shocks by making the cost of production more expensive thereby aggravating the prices of consumer goods. The rise of commodity prices, especially oil, nickel, wheat and corn is the direct impact of the Russia-Ukraine war on major Southeast Asian economies. Regional groupings in Asia such as Asean and the South Asian Association for Regional Cooperation can be used to create pressure on Organisation of Petroleum Exporting Countries, and International Energy Agency member states to increase the supply of oil and reduce the rising oil prices.

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History of this topic

Russia is locking up butter as inflation crisis reaches new heights
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Russia is locking up butter as inflation crisis reaches new heights
Top News
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Russia is locking up butter as inflation crisis reaches new heights
Top News
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Year of war in Ukraine left developing nations picking up pieces
1 year, 10 months ago

Year of war in Ukraine left developing nations picking up pieces

Al Jazeera  

Some of the harshest economic effects of the war are being felt much farther afield than Russia’s theatre of battle. Given the complex interplay between geopolitics, commodity prices and financial markets, Russia’s invasion sent shockwaves across the global economy, including developing countries. “The international community needs to adopt a portfolio approach to improve food resilience in developing countries,” Torero said, …

Russia's war on Ukraine 'could push millions into extreme poverty'
1 year, 10 months ago

Russia's war on Ukraine 'could push millions into extreme poverty'

Daily Mail  

Experts already said energy prices are 'unlikely to return to normal' until 2030s Soaring energy prices triggered by Russia's war on Ukraine could push up to 141 million people worldwide into extreme poverty, a new study reveals. Average household energy cost for households globally has increased between 62.6 per cent and 112.9 per cent since conflict began on February 24 …

War in Ukraine at 1 year: Pain, resilience in global economy
1 year, 10 months ago

War in Ukraine at 1 year: Pain, resilience in global economy

Associated Press  

An Egyptian widow is struggling to afford meat and eggs for her five children. “It’s become unbearable,” Rabie said, heading to her job as a cleaner at a state-run hospital in Cairo’s twin city of Giza. “Meat and eggs have become a luxury.” In the United States and other wealthy countries, a painful surge in consumer prices, fueled in part …

War in Ukraine at 1 year: Pain, resilience in global economy
1 year, 10 months ago

War in Ukraine at 1 year: Pain, resilience in global economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Meat and eggs have become …

Ukraine war: Vladimir Putin has been weaponising energy for years. Here’s what to look for next
2 years ago

Ukraine war: Vladimir Putin has been weaponising energy for years. Here’s what to look for next

Firstpost  

Russia shifted its strategy to attrition, specifically targeting energy infrastructure, after failing to force a quick, decisive victory against Ukraine Not since the 1970s oil crisis has the West seen such a focus on energy security. Vladimir Putin’s regime had been using selective gas supply cuts as a pressure tool against Ukraine since at least the winter of 2005-06, when …

Pacific rim economies in doldrums, sapped by inflation, war
2 years, 4 months ago

Pacific rim economies in doldrums, sapped by inflation, war

Associated Press  

BANGKOK — Economies in the Asia-Pacific are forecast to hit the doldrums this year as decades-high inflation and the war in Ukraine compound geopolitical uncertainties and the aftereffects of the pandemic. A report on Pacific Rim economies by the Asia Pacific Economic Cooperation forum said Friday that growth in the region will likely fall by more than half this year …

Russia-Ukraine conflict and the future of energy transaction
2 years, 4 months ago

Russia-Ukraine conflict and the future of energy transaction

Hindustan Times  

Russia's invasion of Ukraine has displaced millions of people and killed thousands on both sides since the conflict began. The United States and Europe should keep a careful eye on how China and India respond to Russia's persistent energy disruption. China is by far the world's largest energy consumer and emitter of greenhouse gases, while the third-largest emitter of GHGs …

Russia’s war to keep hitting EU economy, push up inflation
2 years, 5 months ago

Russia’s war to keep hitting EU economy, push up inflation

Associated Press  

BRUSSELS — Russia’s war in Ukraine is expected to wreak havoc with the European Union’s economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc’s economic forecast showed Thursday. “Russia’s war against Ukraine continues to cast a long shadow over Europe and our economy,” EU Vice President Valdis Dombrovskis said. Further reductions in gas supply …

US, Japan agree to cooperate on economic fallout of Ukraine war
2 years, 5 months ago

US, Japan agree to cooperate on economic fallout of Ukraine war

Al Jazeera  

The top economic officials of the United States and Japan have pledged to work together to tackle rising food and energy prices while reiterating their condemnation of Russia’s war in Ukraine. US Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki on Tuesday said the war had increased exchange rate volatility, posing risks to economic and financial stability. The …

Inflation pushed 71M people into poverty since Ukraine war
2 years, 5 months ago

Inflation pushed 71M people into poverty since Ukraine war

Associated Press  

DUBAI, United Arab Emirates — A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia’s invasion of Ukraine, the United Nations Development Program said in a report Thursday. The UNDP estimates that 51.6 million more people fell into poverty in the first …

Explained | The impact of the Ukraine-Russia crisis on global agricultural markets
2 years, 5 months ago

Explained | The impact of the Ukraine-Russia crisis on global agricultural markets

The Hindu  

The story so far: Russia’s invasion of Ukraine has not only created instability in the region and displaced millions of people but has also led to a global food shortage. FAO’s forecasts, considering that war-related disruptions can persist, say that Ukraine’s wheat export could decline by 50 per cent in 2022-23, compared to the already reduced 2021-22 level. Sunflower seed …

K.C. Singh | A fine balance? Liberalism on lips; realpolitik at home
2 years, 5 months ago

K.C. Singh | A fine balance? Liberalism on lips; realpolitik at home

Deccan Chronicle  

India and four other democracies attended the Group of Seven summit of the seven most advanced economies of the world on June 26-28. It is also correctly realised that the global liberal democratic order, now under challenge by resurgent autocratic powers like Russia and China, cannot be defended without strengthening democracy within nations and shepherding the transition of the world …

The Ukraine war and the global food crisis
2 years, 6 months ago

The Ukraine war and the global food crisis

The Hindu  

The story so far: Russia’s invasion of Ukraine and the subsequent sanctions on its economy have sent global food prices soaring, threatening to push millions of people, especially those in low-income countries, into starvation. Ukraine and its allies in the West have accused Russia of weaponising food, saying that its blockade of Ukraine’s Black Sea ports is the primary reason …

‘I can’t see the light': War fuels surging prices in Europe
2 years, 7 months ago

‘I can’t see the light': War fuels surging prices in Europe

Associated Press  

MILAN — Edoardo Ronzoni inspects a construction site near Milan that he shut down in March as costs for materials skyrocketed. We are closing all of our sites.’’ The war has accelerated inflation across Europe and the world, with prices for energy, materials and food surging at rates not seen for decades. “We can do it for a while, but …

'I can’t see the light': War fuels surging prices in Europe
2 years, 7 months ago

'I can’t see the light': War fuels surging prices in Europe

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. We are closing all of our sites.’’ The war …

Russian war, China lockdowns roil oil markets as OPEC+ meets
2 years, 7 months ago

Russian war, China lockdowns roil oil markets as OPEC+ meets

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Increasing production beyond the quotas would complicate relations among …

UN says Ukraine war threatens to devastate many poor nations
2 years, 8 months ago

UN says Ukraine war threatens to devastate many poor nations

The Hindu  

Russia’s war on Ukraine threatens to devastate the economies of many developing countries that are now facing even higher food and energy costs and increasingly difficult financial conditions, a U.N. task force warned Wednesday. “As many as 1.7 billion people - one-third of whom are already living in poverty - are now highly exposed to disruptions in food, energy and …

Will the war in Ukraine worsen global food shortages?
2 years, 8 months ago

Will the war in Ukraine worsen global food shortages?

Al Jazeera  

The UN is warning of a ‘perfect storm’ of crises for developing countries as Russia’s invasion of Ukraine has upended the flow of food, fuel and money around the world. Russia’s invasion of Ukraine has upended the flow of food, fuel and money around the world. Food prices are up 34 percent compared with last year, the highest levels ever …

Russia's attack on Ukraine may burn a hole in your pocket too, daily items' prices set to rise
2 years, 8 months ago

Russia's attack on Ukraine may burn a hole in your pocket too, daily items' prices set to rise

India Today  

Food prices are surging globally, including in India, as the war in Ukraine blocks crop supplies to push inflationary pressure on the consumer pocket. Taking cues from the global situation, the Reserve Bank of India today raised the inflation forecast for the current fiscal year by 120 basis points to 5.7 per cent. After easing to 4.3 per cent in …

Ukraine war disruptions send food prices to their highest ever
2 years, 8 months ago

Ukraine war disruptions send food prices to their highest ever

Al Jazeera  

World food prices hit an all-time high in March following Russia’s invasion of agricultural powerhouse Ukraine, a United Nations agency said on Friday, adding to concerns about the risk of hunger around the world. Russia and Ukraine, whose vast grain-growing regions are among the world’s main breadbaskets, account for a huge share of the globe’s exports in several major commodities, …

Russia Ukraine War: International food prices soar to record high levels after massive supply disruptions
2 years, 8 months ago

Russia Ukraine War: International food prices soar to record high levels after massive supply disruptions

India TV News  

Highlights Prices of grains and vegetable oils reached their highest levels ever last month UN FAO said the war was largely responsible for the 17.1% rise in grains Russia and Ukraine together account for around 30% and 20% of global wheat and corn exports Prices for food commodities like grains and vegetable oils reached their highest levels ever last month …

Ukraine-Russia war updates: Aid groups under siege alongside civilians
2 years, 8 months ago

Ukraine-Russia war updates: Aid groups under siege alongside civilians

ABC  

Food price rises caused by the Russian invasion of Ukraine are increasing the risk of malnutrition for millions of children in the Middle East and North Africa, the UN children’s agency warns. Since then, intense fighting in different parts of the country has disrupted food exports, and Western countries have imposed crippling economic sanctions on Russian institutions. Ukraine and Russia …

Household budgets on rise as petrol-diesel to vegetable, oil, milk prices spike
2 years, 8 months ago

Household budgets on rise as petrol-diesel to vegetable, oil, milk prices spike

India Today  

Prices of petrol, diesel, vegetables, oil, milk and other essential commodities have gone up rapidly across the country. EDIBLE OIL The country, which is dependent on the imports of edible oil to meet over 60 per cent of its domestic demand, has seen a sharp rise in retail prices of various types of cooking oils in the last couple of …

Russia-Ukraine war: What Nitin Gadkari said about hikes in fuel prices
2 years, 8 months ago

Russia-Ukraine war: What Nitin Gadkari said about hikes in fuel prices

Live Mint  

Union Minister Nitin Gadkari on Friday justified the hikes in fuel prices, thrice in the last four days, saying that the oil prices had gone up within the international market owing to the ongoing war between Russia and Ukraine, which was beyond the Indian government’s control, according to news agency PTI report. While speaking at a session titled “New India, …

Explained: How the Ukraine conflict rocked commodity markets
2 years, 9 months ago

Explained: How the Ukraine conflict rocked commodity markets

The Hindu  

Just as the first Russian tanks and military vehicles rolled into the Ukrainian territory on February 24, commodity prices surged with oil breaching $100 a barrel, aluminum climbing to a record high and wheat prices soaring to a nine-year high. The surge reflected traders' worries that the war involving Russia — a key supplier of oil, natural gas, coal, aluminum …

Gas rationing, food vouchers and hunger: Economic pain from Russia’s war is getting real
2 years, 9 months ago

Gas rationing, food vouchers and hunger: Economic pain from Russia’s war is getting real

CNN  

New York CNN Business — As Russian soldiers bear down on Ukraine, increasingly desperate Ukrainians are running out of food and medicine. Inside Ukraine, some towns have less than a four days’ worth of food, the aid agency Mercy Corps said Tuesday, warning that the humanitarian system in the country “is entirely broken down.” At least 70% of the population …

Asian shares rise, eyeing Ukraine, inflation, energy costs
2 years, 9 months ago

Asian shares rise, eyeing Ukraine, inflation, energy costs

Associated Press  

TOKYO — Asian shares were mostly higher Tuesday as investors eyed the war in Ukraine, inflationary risks and surging energy prices. Shares ended modestly lower on Wall Street after bouncing around for much of the day and bond yields rose sharply after Federal Reserve Chair Jerome Powell said the central bank was prepared to move more aggressively if need be …

Edible oil prices rise due to Ukraine-Russia war
2 years, 9 months ago

Edible oil prices rise due to Ukraine-Russia war

Deccan Chronicle  

ANANTAPUR: The Ukraine-Russia war impact has impacted edible oil prices across the country. The groundnut seed scarcity to have serious impact on the coming rabi season, the peak season for seed production in all major oil seed producing states. The hike in groundnut oil prices is also due to the huge demand in the market. Anantapur joint-collector Kethan Garge said …

War in Ukraine will affect food prices – the real question is how badly
2 years, 9 months ago

War in Ukraine will affect food prices – the real question is how badly

The Independent  

The focus is shifting from energy to food. Quite aside from what happens in Russia, there will not be much planting of wheat in Ukraine this spring, so the question will be whether North America, France and other countries can increase production. The world’s largest importer of wheat is Egypt, and since it gets some 70 per cent of that …

Russia-Ukraine war: How rising crude oil prices impact us in ways we don't quite notice
2 years, 9 months ago

Russia-Ukraine war: How rising crude oil prices impact us in ways we don't quite notice

India Today  

Russia’s invasion of Ukraine continues. Crude oil prices had been rising even during the build-up of Russia’s President Vladimir Putin’s special military operation in the Soviet-era constituent, Ukraine, backed externally by the US-dominated military alliance called Nato. India’s latest Economic Survey has projected 8-8.5 per cent growth for the financial year 2022-23, assuming that oil prices would remain between $70 …

How will the Ukraine-Russia conflict affect crude oil prices? | In Focus podcast
2 years, 9 months ago

How will the Ukraine-Russia conflict affect crude oil prices? | In Focus podcast

The Hindu  

The Russia-Ukraine conflict has begun to have a major impact on the world energy markets. Ever since the conflict started, and especially after the announcement of economic sanctions on Russia, crude prices have been steadily climbing. U.S. President Joe Biden’s decision to ban Russian oil is further set to roil energy markets. India, which relies on imports for the bulk …

UN: War in Ukraine to hurt poor nations importing grain
2 years, 9 months ago

UN: War in Ukraine to hurt poor nations importing grain

Associated Press  

ROME — Poorer countries in northern Africa, Asia and the Middle East that depend heavily on wheat imports risk suffering significant food insecurity because of Russia’s war in Ukraine, and the conflict is poised to drive up already soaring food prices in much of the world, the U.N. food agency warned Friday. With the conflict’s intensity and duration uncertain, “the …

Ukraine-Russia war poses new threat to global food security
2 years, 9 months ago

Ukraine-Russia war poses new threat to global food security

Al Jazeera  

Russia and Ukraine combine for nearly a third of the world’s wheat and barley exports. The crisis in Ukraine and Russia, one of the world’s main sources of grain, fertilisers and energy, presents new challenges in securing food supplies on top of a prolonged pandemic, a United Nations official said Thursday. “We weren’t going well even before the pandemic, the …

In Thailand, businesses feel economic shock of Ukraine war
2 years, 9 months ago

In Thailand, businesses feel economic shock of Ukraine war

Al Jazeera  

Countries across Asia are bracing for rising inflation and supply chain disruptions amid sanctions against Russia. “We’ve basically lost market access to Russia,” Enloe, managing director of Purithai Produce, which ships fresh and frozen produce to Europe, America and Russia, told Al Jazeera. “But higher global energy prices and slower global trade will weigh on Asia’s recovery, notably for countries …

Russia Ukraine War: Petrol, diesel price hike likely from next week
2 years, 9 months ago

Russia Ukraine War: Petrol, diesel price hike likely from next week

India TV News  

Highlights Petrol and diesel prices are likely to be hiked this week as oil companies prepare to pare losses The US oil benchmark rose to USD 130.50 per barrel Petrol and diesel prices need to be increased by Rs 15 a litre for fuel retailers to break even Petrol and diesel prices are likely to be hiked this week as …

How Russia's invasion of Ukraine will impact Australians' wallets
2 years, 9 months ago

How Russia's invasion of Ukraine will impact Australians' wallets

ABC  

Money knows no emotion and, sometimes, even less morality. War and sanctions could push petrol over $2 a litre Photo shows Shipping containers are stacked at a port Australia's mining companies and farmers might benefit from Russian sanctions, but consumers will lose out. Photo shows A composite image of Joe Biden and Vladimir Putin shot in profile The Russia-Ukraine conflict …

Ukraine war could send bread, noodle and livestock feed prices skyrocketing
2 years, 9 months ago

Ukraine war could send bread, noodle and livestock feed prices skyrocketing

ABC  

The Russian tanks and missiles besieging Ukraine are also threatening the food supply and livelihoods of people in Europe, Africa and Asia who rely on the vast, fertile farmlands of the Black Sea region — known as the "breadbasket of the world". Key points: Russia and Ukraine combine for nearly a third of the world's wheat and barley exports Wheat …

Explained | Will sanctions against Russia impact long-term supply of wheat, oil, metals and other goods?
2 years, 9 months ago

Explained | Will sanctions against Russia impact long-term supply of wheat, oil, metals and other goods?

The Hindu  

The story so far: Commodity prices have gone into a tizzy after Russian forces invaded Ukraine last month. Many fear that a drop in the supply of essential commodities such as oil, metals, and agricultural goods could negatively affect the global economy that is still recovering from the pandemic. Commodity traders have been unwilling to purchase oil and other commodities …

Russia-Ukraine War: Europe’s Costly Energy Transition Has Accelerated the Great Power Contest
2 years, 9 months ago

Russia-Ukraine War: Europe’s Costly Energy Transition Has Accelerated the Great Power Contest

News 18  

The interplay between great power competition and the green energy transition has in large part brought forth the spectre of inflation. Energy price inflation soared, damaging industrial competitiveness, reducing consumers’ disposable income, pressuring central banks and threatening Europe’s economic recovery. Great Power Competition and Energy Wars Europe’s increased dependency on gas has played a role in Russia’s geopolitical calculus. Such …

What Russia’s invasion of Ukraine could mean for the US economic recovery
2 years, 9 months ago

What Russia’s invasion of Ukraine could mean for the US economic recovery

CNN  

Editor’s Note: Mark Zandi is chief economist of Moody’s Analytics. Painfully high inflation has become the nation’s number one economic problem, ignited by the pandemic, and set to get worse as Russia’s invasion of Ukraine sends gasoline prices higher. If sustained, $100-a-barrel oil would ultimately add as much as half a percentage point to year-over-year consumer price inflation, based on …

Economic dangers from Russia’s invasion ripple across globe
2 years, 9 months ago

Economic dangers from Russia’s invasion ripple across globe

Associated Press  

WASHINGTON — Moscow’s war on Ukraine and the ferocious financial backlash it’s unleashed are not only inflicting an economic catastrophe on President Vladimir Putin’s Russia. “We know there are consequences that we cannot predict.’’ For now at least, the damage to the overall global economy appears to be relatively slight, if only because Russia and Ukraine are not economic powerhouses. …

Economic dangers from Russia's invasion ripple across globe
2 years, 9 months ago

Economic dangers from Russia's invasion ripple across globe

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We know there are consequences that we cannot predict.’’ …

Stocks fall, oil tops $100 a barrel as Ukraine war rages
2 years, 9 months ago

Stocks fall, oil tops $100 a barrel as Ukraine war rages

Associated Press  

BEIJING — Asian stock markets slid Wednesday and oil prices surged more than $5 per barrel as Russian forces stepped up attacks on Ukrainian cities. “Russia pumps more than that in just six days.” Late Tuesday, President Joe Biden announced he was joining U.S. allies in closing the country’s air space to Russian aircraft. Economists say Asian economies are less …

EXPLAINER: What does Ukraine invasion mean for energy bills?
2 years, 9 months ago

EXPLAINER: What does Ukraine invasion mean for energy bills?

Associated Press  

FRANKFURT, Germany — Even as gunfire sounded in Ukraine’s capital, natural gas kept flowing normally Friday through the major pipelines from Russia to Europe. Russia’s attack on Ukraine has whipsawed energy markets, not least because Europe depends on Russian supplies of natural gas. Prices for both dropped after U.S. and European officials said sanctions against Russia would not interrupt energy …

Russia-Ukraine crisis: 'Commodity, raw material prices may see steady rise; steel output to be hit'
2 years, 9 months ago

Russia-Ukraine crisis: 'Commodity, raw material prices may see steady rise; steel output to be hit'

Firstpost  

Both Russia and Ukraine are net exporters of steel, cumulatively to the tune of almost 40 million tonnes, which will affect international steel availability, said Indian Steel Association New Delhi: Amid the Russia-Ukraine crisis, the commodity and raw material prices, including coking coal, will see a steady increase and this will in turn impact the input cost of steel production, …

How The War In Ukraine Could Hurt The U.S. Economy
2 years, 9 months ago

How The War In Ukraine Could Hurt The U.S. Economy

Huff Post  

LOADING ERROR LOADING WASHINGTON ― Russia’s war on Ukraine could spike gasoline prices in the U.S., increasing overall inflation as well as the odds of a layoff-inducing slowdown. “Landing the economic plane on the tarmac was already going to be difficult for the Fed because of the pandemic and high inflation, but Russia’s invasion makes it more likely the economic …

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