Markets remain worried as energy rich Russia faces harsh sanctions from western countries

• Indian markets fell sharply on Monday as rising international geopolitical tensions continue to rule the market.
• In the latest development on the Russia Ukraine war, western countries have announced a new set of sanctions to punish Russia for invading Ukraine.
• As a reaction to the Russia-Ukraine war, crude oil prices have risen, further escalating tensions over rising import bills for India.

Indian markets started another week on a negative note as the Russian-Ukraine crisis continued to worsen.

In the latest development on the Russia-Ukraine war, western countries have announced a new set of sanctions to punish Russia for invading Ukraine. This includes blocking some banks from the SWIFT international payments system that do trillions of dollars worth of transactions. The international messaging service SWIFT is used by banks to send money around the world.

Addition of more severe sanctions on energy rich Russia kept equity markets across the word under pressure.

The Russia-Ukrainian war is an ongoing and protracted conflict that started in February 2014 over geopolitical issues and the situation has now become dangerous now.

This weakness is expected to continue especially after the Russian President Vladimir Putin put his nuclear forces on a higher alert in reaction to the latest stiff measures by western countries.

Along with the Russia-Ukraine crisis, investors might also be worried about the next move of the US Fed on likely raising rates in March 2022.
Adding to the woes, oil prices continued to remain high at $100 per barrel because of the Russia-Ukraine conflict.

Considering India imports more than 80% of its oil requirements, the development is a major drawback for the country.


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