Why Ukraine joining NATO is such a big deal

This is because according to an article in the Treaty of NATO, if there is an attack on any NATO country, then all other NATO member countries will provide military support to that country.

And therefore Russia does not want Ukraine to be a part of the European Union and NATO under any circumstances.

Russia-Ukraine crisis 2022

Russia-Ukraine crisis 2022

However, in a meeting between the President of Ukraine and the Chief of NATO on 16 December 2021, Ukraine expressed its commitment to join NATO.

Russia-Ukraine crisis 2022

A few days ago, the US National Security Advisor even said that Russia can invade Ukraine at any time. In such a situation, many countries have also asked their citizens to come back from Ukraine.

Russia-Ukraine crisis 2022

According to the latest updates, Russia has declared Ukraine’s two eastern regions, Luhansk and Donetsk, as independent regions. In response, the US has also announced financial sanctions against these territories and can also impose sanctions on Russia.

Russia-Ukraine crisis 2022

In such a situation, the Security Council of the UN has also called an emergency meeting between Ukraine, the US, Mexico, and the Five European Nations.

Russia-Ukraine crisis 2022

All these tensions are having a huge impact on the financial market as well. Whether it is equity markets or crypto markets and its impact will also be on the Indian economy. This is because Russia is a commodity export powerhouse.

Russia-Ukraine crisis 2022

Russia is the largest exporter of crude oil and natural gas. Apart from this, Russia is a key supplier of many metals such as aluminum, copper, etc., and Agri products such as wheat to many countries.

Russia-Ukraine crisis 2022

If a trade or economic sections are imposed on Russia, then all those countries which import goods from Russia will be affected. India is a net importer of crude oil.

Russia-Ukraine crisis 2022

Similarly, crude oil prices may also touch $100 per barrel, which will have an impact on the price of all goods and services and will also lead to a rise in inflation.

Russia-Ukraine crisis 2022

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