Unveiling India’s Strategic Windfall: Leveraging Russia-Ukraine War For Economic And Energy Gains

Aman Raj, Symbiosis Law School, Nagpur

Maniyar Shaik Sharika Taskeen, Symbiosis Law School, Nagpur

Introduction

‘War’ in the recent past has been the new norm for various developed countries to create deterrence in the minds of other prominent nations. The ongoing conflict between Russia and Ukraine has reverberated across the globe, reshaping geopolitical dynamics and disrupting commercial landscapes. This paper deals with India (Indian industrialist), which has emerged as a significant player, leveraging the turmoil in the global energy market to its advantage. India and Russia have made an illegal arrangement to deal with sanctioning the United Kingdom and the United States of America.

Russia-Ukraine war and its global impact

Ukraine -Russia has been the top headlines from the past 2 years where the rights of a country's sovereignty have gone for a toss. Russia has been using its power to cripple the existence of Ukraine from the world map unofficially. Every action has an equal and opposite reaction, and this reaction comes from the strongest countries (Western countries).

The global commercial landscape has been significantly affected by the Russian invasion of Ukraine. Ukraine has suffered more significant harm than Russia. This conflict has led to disruption in the trade route, mainly to commodities like base metal, mineral oils, and agricultural products. Ukraine's primary means of livelihood is exporting commodities through ships, and Russia has faced economic sanctions that impede its participation in global markets. Imports from Ukraine have significantly declined, while Russia has gained particularly in mineral exports to Asian countries. Overall, the countries globally are directly and indirectly impacted by the Russian invasion of Ukraine. For example, Turkey, one of the significant countries directly reliant on Ukraine for the wheat supply, was affected whose cry could be heard in the global market. Regarding numbers then, Ukraine was 47.3 lower between February and August 2022. However, it cannot be asserted that Russia is totally in a monetary