News Highlights
The Russian president called up 300,000 reservists to fight in Ukraine and backed a plan to annex parts of the country.
Key Takeaway
- It was Russia’s first such mobilisation since the Second World War and signified the biggest escalation of the Ukraine war.
- A shell damages a water pipe at the Zaporizhzhia nuclear power plant, Europe’s biggest nuclear plant.
Story so far
- Association Agreement (AA) with the EU:
- In 2013, Ukraine’s then-President decided against signing an Association Agreement (AA) with the European Union (EU), sparking major pro-European protests in Ukraine. He was impeached by the Parliament.
- Crimean annexation:
- In 2014, Russia annexed Crimea, an autonomous peninsula in southern Ukraine with strong Russian loyalties, with the excuse of defending its interests and those of Russian-speaking citizens. The EU, the United States and other countries imposed sanctions on Russia.
- Minsk Protocol I:
- In 2014, a peace plan for eastern Ukraine (the Minsk Protocol I) was signed. However, the agreement quickly broke down,with violations by both sides.Its provisions included prisoner exchanges,deliveries of humanitarian aid and the withdrawal of heavy weapons.
- Minsk II agreement:
- Russia, Ukraine, the Organisation for Security and Cooperation in Europe (OSCE) and the leaders of two pro-Russian separatist regions signed a 13-point agreement in February 2015 in Minsk. France, Germany, Ukraine and Russia agreed to a new ceasefire for the implementation of the agreements.
Reasons for the war
- The NATO membership:
- For Russia, Ukraine should not join the North Atlantic Treaty Organisation (NATO) as a member. But it is essential for Ukraine’s national security policy, especially after the Russian annexation of Crimea in 2014.
- Integration with EU:Â
- Ukraine wants to join the European Union (EU) for early integration of its political and economic relations with the EU, which Russia doesn’t want Ukraine to do.
- Eurasian Economic Community:
- Russia wants Ukraine to join Eurasian Economic Community (EAEC), which is a free trade agreement for post-Soviet states, so that Russia can control the resource-rich Ukraine.
- Boost to Russian Navy:
- Russia retains a strategic grip on the region and the ability to project its naval power to the Mediterranean and beyond.
- Failure of international institutions:
- The UN was created after World War II to keep a check so that there would be no 3rd World War, while it’s the failure of international organisations collectively to check tensions in the Euro-Asia region.
- Russian Energy Exports:
- Russian Oil and Gas exports, especially to Europe, have been Russia’s bargaining chip and too many economic sanctions can cause an energy crisis in Europe.
The war’s effects on India.
- The arms trade with Russia:
- Russia remains the major arms supplier of India, but the war has once again increased US threats of application of Countering America’s Adversaries Through Sanctions Act (CAATSA).
- The crisis comes precisely as India’s purchase of the Russian S-400 missile system is underway and India hopes for a waiver of U.S. sanctions on this.
- Brings Russia and China closer:
- The Crisis will make Russia more dependent on friends like China and build a regional bloc that India is not a part of.Â
- Russia is already opposed to the Indo-Pacific concept and the Quad as a revival of Cold War bloc politics and views them as being against its Asia-Pacific interests.
- Gas Prices:
- Gas prices have increased over 50% this year after a five-fold rise last year. This price rise increases India’s import bill and the current account deficit.
- Agriculture:
- The conflict has opened new opportunities for India in wheat export, and on the other hand, it has caused hardships over fertiliser availability, and sunflower oil as Ukraine accounts for 1.4 metric ton (MT) of India’s imports out of a total 1.9 MT imports every year.
- Metals:
- Russia is a significant producer of Titanium, Palladium, Scandium, Rough Diamond etc. War and sanctions will negatively impact India’s diamond industry (reduced imports) and supply chain issues for the semiconductor industry, automobile companies, etc.
- Flight of capital:
- Foreign portfolio investors(FPI) have been selling their holdings in Indian equities over the last four months.
- As FPIs pulled out, domestic institutions emerged as net investors.
- Indian students:
- A lot of Indian students have been studying in Ukraine, especially medicine, but the war forced students to return to India.
Zaporizhzhia Nuclear Power Plant
- It is located in Ukraine.
- It is the largest nuclear power plant in Europe.
- It is one of the ten largest nuclear power plants in the world.
- The former Soviet Union built it.
- It is located on the southern shore of the Kakhovka Reservoir on the Dnieper river.
Pic Courtesy: The Indian Express
Content Source: The Hindu