HomeUncategorizedRussia-Ukraine war: Sensex nosedives, PM Modi to meet FM Sitharaman

Russia-Ukraine war: Sensex nosedives, PM Modi to meet FM Sitharaman

New Delhi: As the Indian stock market or BSE Sensex on Thursday tanked by 2,702 points in response to the Russian invasion of Ukraine, Prime Minister Narendra Modi is likely to hold an emergency meeting with Union Finance Minister Nirmala Sitharaman and other officials to discuss the economic impact of the Russia-Ukraine war, media reports said.

The Prime Minister will also discuss ways to mitigate the impact of rising prices of crude oil in the aftermath of the Russian invasion of Ukraine, Reuters reported.

Earlier on Thursday, as Russian troops landed on Ukrainian soil by land and by air, Ukraine’s President Volodymyr Zelenskiy tweeted, “Russia treacherously attacked our state in the morning, as Nazi Germany did in the WW2 years. As of today, our countries are on different sides of world history. Russia has embarked on a path of evil, but Ukraine is defending itself & won’t give up its freedom no matter what Moscow thinks.”

Also read: Envoy ‘deeply dissatisfied’ with India’s position

Explosions were reported on Thursday morning (Indian time) in multiple cities in Ukraine and at least 40 people, both civilian and military, have been killed, according to an adviser to President Zelenskiy. In a televised speech early Thursday, Russian President Vladimir Putin said he had ordered a “special military operation” in Ukraine. Zelenskiy has since cut diplomatic ties with Russia and has declared martial law.

According to Reuters and other agency reports, Russian military vehicles were said to have breached the border in the north, south and east, including in Belarus and Crimea, and local journalists had reported that emergency sirens had begun sounding in the Ukrainian capital of Kyiv (Kiev) on Thursday morning.

Also read: Air India flight returns to Delhi

Meanwhile, US President Joe Biden said he “condemned this unprovoked and unjustified attack by Russian military forces” and would work with the G7 and allies to impose “severe sanctions”. The fact that Russia’s attack has come despite Biden’s best efforts to head it off has put the US President under the spotlight, and how Biden handles the Russia-Ukraine crisis is expected to have profound implications for his political fortunes and US relations with the rest of the world.

On the other hand, European Union (EU) leaders have declared the imposition of new sanctions on Russia, freezing its assets, halting its banks’ access to European financial markets, and targeting “Kremlin interests” over its “barbaric attack”on Ukraine, senior EU officials said on Thursday.

Indiablooms News Service & Agencies

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