global inflation Archives

Ukraine Crisis: Impact On World Economy If Russia Stops Gas, Oil Export

Aditi priya singhMarch 10, 20220

The United States has announced a ban on the import of oil, gas and energy from Russia in order to increase pressure for showing aggression on the neighbouring country Ukraine. Energy resources are the main source of Russia's economy and the purpose of the move announced by US President Joe Biden is to teach a lesson to Russia. Biden has taken a big step forward to bleed Russia's economic system. The energy sector is undoubtedly the heart of the Russian economy. It is also called the country's blood boil. Russia supplies oil worth $1 billion a day to the United States. The current ban is on Russian oil, LPG and coal, and also prevented Americans from doing business or investing in Russian oil and gas companies. With this move, not only Russia and America, but the oil prices of...

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Inflation Following Russia Attack: Smartphones, Houses And Crude Oil To Become Expensive; Check Out Reasons

Aditi priya singhFebruary 25, 20220

Russia's attack on Ukraine may give to inflation in several places across the world. If we talk about electronic gadgets like laptops and smartphones, these products will be affected as well as the houses and crude oil prices will shoot up. According to a report, 90% of semiconductor grade neon is supplied to the US from Ukraine and 35% of Palladium is supplied from Russia to America. Both of these products are very important in assembling chips or memory cards. Now, in such a situation of War, the supply may be stopped which can affect manufacturing and will cause global inflation in electronic gadgets. Japan has expressed concerns over this matter. Due to this war, oil, cement and many other items will become expensive. Meanwhile, realtors body CREDAI has said that housing pri...

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Russia-Ukraine Tensions: India Suggests Peaceful Solution

Pooja YadavFebruary 22, 20220

India is trying to opt for a balanced and preventive approach in the ongoing Russia-Ukraine crisis. Earlier, India remained silent and was appealing to sort out the differences between the countries peacefully in the international community. On January 30, 2022, India abstained from voting in UNSC when the US demanded the Russia-Ukraine crisis discussion. India neither voted in favour of it nor against it. The response, however, was not surprising for many experts as in 2014 when Russia attacked Crimea, India abstained from voting in UNSC on the resolution passed by the US. The country had passed a resolution against Russia in the UNSC. Russia took India's step as a pro-Russian view. India boycotted the Winter Olympics in China where Russia aimed to promote its views on Ukrai...