Initial signs of an end to the war between russia and ukraine that has been going on for more than 3 years have begun to appear. If this ceasefire comes into effect, it will not only benefit the global economy but also the indian economy. Let us take a closer look at this. The war between ukraine and russia broke out in february 2022. Although there has been a long-standing conflict between russia and ukraine, no one expected it to erupt into a full-scale war. But, Russian President Putin suddenly ordered the start of a war on ukraine in 2022. That war has been going on for more than 3 years now. If the casualties caused by the war are on one side, it has also caused a lot of economic losses. Those effects are also echoing internationally. It is in this context that US President trump is taking various steps to end the Russia-Ukraine conflict.
Perhaps if russia ends the ukraine conflict, it will bring about various good things internationally. First, energy prices in europe will come under control. If the european countries lift the economic sanctions on russia after the war ends, the energy exported from russia will reach the pre-war level and stabilize. This is not only good for the Russian economy. It will reduce energy prices in all european countries. Similarly, trade in the Black sea has been severely affected by this war. If the war ends, the Black sea trade will also stabilize. This will greatly help the world's supply chain. Moreover, ukraine has an important place in wheat exports to Russia. While exports have been affected by the war, that too will stabilize.
This ceasefire has many benefits for India, too. First of all, we mostly import sunflower oil and fertilizer from ukraine and Russia. Especially due to the war, we are unable to get sunflower oil and some types of grains from Ukraine. Due to this, the price of sunflower oil has also increased significantly in India. In this context, if the ceasefire comes into effect, there is a possibility that the price of sunflower oil and fertilizer will decrease significantly. Many countries of the world have imposed economic sanctions on russia due to the war. Due to this, there are some practical problems in purchasing crude oil from Russia. These are also expected to be resolved once the ceasefire comes into effect.
The implementation of the ceasefire is mainly good for the indian defense sector. We buy 25% of our military equipment from Russia. In particular, we buy S-400s, T-90Ss, etc. from Russia. Although the acquisition of S-400s was not prohibited after the war began, the delivery of S-400s was delayed due to the war and its consequences. There is no doubt that this problem will also be resolved once the war ends.