The government on Friday said it is in the process of analysing the impact of sanctions on Moscow for India-Russia bilateral trade and economic cooperation.
The US and several Western countries have imposed crippling economic sanctions on Russia for its invasion of Ukraine.
“Many countries have imposed sanctions on Russia due to the conflict. These are expected to have an impact on the global economy, including through disruption of supply chains. Its impact on energy and commodity prices is already visible,” Minister of State for External Affairs Meenakashi Lekhi said.
She was replying to a question in Lok Sabha.
“We are in the process of analysing its impact on India-Russia bilateral trade and economic cooperation, in consultation with all stakeholders. India’s relations with Russia stand on their own merit,” Lekhi said.
She also referred to discussions on the conflict at the United Nations and said India has called for an immediate cessation of violence and an end to all hostilities.
“We have expressed deep concern at the worsening situation and called for an immediate cessation of violence and end to all hostilities,” she said.
Lekhi said India has reiterated that there is no other choice but the path of diplomacy and dialogue to resolve the crisis.
“We have emphasised to all member states of the UN that the global order is anchored on international law, UN Charter and respect for territorial integrity and sovereignty of states,” she added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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The government on Friday said it is in the process of analysing the impact of sanctions on Moscow for India-Russia bilateral trade and economic cooperation. The US and several Western countries have imposed crippling economic sanctions on Russia for its invasion of Ukraine. “Many countries have imposed sanctions on Russia due to the conflict. These are expected to have an impact on the global economy, including through disruption of supply chains. Its impact on energy and commodity prices is already visible,” Minister of State for External Affairs Meenakashi Lekhi said. She was replying to a question in Lok Sabha. “We are in the process of analysing its impact on India-Russia bilateral trade and economic cooperation, in consultation with all stakeholders. India’s relations with Russia stand on their own merit,” Lekhi said. She also referred to discussions on the conflict at the United Nations and said India has called for an immediate cessation of violence and an end to all hostilities. “We have expressed deep concern at the worsening situation and called for an immediate cessation of violence and end to all hostilities,” she said. Lekhi said India has reiterated that there is no other choice but the path of diplomacy and dialogue to resolve the crisis. “We have emphasised to all member states of the UN that the global order is anchored on international law, UN Charter and respect for territorial integrity and sovereignty of states,” she added.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.) Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Support quality journalism and subscribe to Business Standard. Digital Editor