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No direct impact of Russia-Ukraine crisis on India

International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement,” a Bank of Baroda Economics Research report said.

February 25, 2022 / 07:08 PM IST
Smoke and flame rise near a military building after an apparent Russian strike in Kyiv, Ukraine. (Image: AP)

Smoke and flame rise near a military building after an apparent Russian strike in Kyiv, Ukraine. (Image: AP)

There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday.

International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement,” a Bank of Baroda Economics Research report said.

Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life.

The West is ramping up financial sanctions against Russia and support for Ukraine.