Russia on Thursday (February 17) announced a new drawdown of military forces from the Moscow-annexed Crimean peninsula, continuing a troop withdrawal. While the United States warned that Moscow's announcement of a troop withdrawal is false.

Russia on Thursday (February 17) announced a new drawdown of military forces from the Moscow-annexed Crimean peninsula, continuing a troop withdrawal. While the United States warned that Moscow's announcement of a troop withdrawal is false. A senior White House official said that Russia has increased its presence on the border with Ukraine "by as many as 7,000 troops". In a statement that was published by Russian news agencies, the country's defence ministry said: "Units of the southern military district that ended tactical exercises at training grounds on the Crimean peninsula are returning by rail to their permanent bases." IN PICS | Russia's next wonder weapon: Kedr intercontinental ballistic missile The defence ministry said that tank units of the western military district had departed on a military train for their bases 1,000 kilometres away. However, no details were provided to specify the number of troops or equipment involved. Meanwhile, the senior White House official said that Russia could launch a "false" pretext to invade Ukraine "at any moment". The official added that while Russia has said it wants to reach a diplomatic solution, its actions indicate otherwise. IN PICS | Satellite pictures: New Pontoon bridge & Russian troop deployment along Ukraine Western countries have claimed that Russia has amassed well over 100,000 troops and significant military hardware near Ukraine's borders. The West also fears that such massive troops build-up could result in the potential invasion of Ukraine, which Washington says could take place "at any time". On the other hand, Russia has repeatedly denied any plans for an attack but has agreed that "large-scale" military exercises are taking place in various areas. Russia has never specified the number of troops present at the Ukraine border region. Ukrainian President Volodymyr Zelensky said Kyiv had observed only "small rotations" that did not signify any real change. ×

Russia 'pulling back more troops' but US says Moscow could launch 'false' pretext to invade Ukraine

Poland's Deputy Foreign Minister Marcin Przydacz sees India's role positive amid the ongoing Russia-Ukraine crisis without taking Moscow's name said, " You have relatively good relations with those countries, as I said, there is a possibility of involvement of India in diplomacy". West is worried over a Russian invasion of Ukraine something that Moscow has been dismissing. Speaking to our diplomatic correspondent Sidhant Sibal from Warsaw, Minister Przydacz, "India is one of the most important actors in the international scene, the biggest democracy". On Poland hosting Ukrainian refugees, minister pointed, "Poland as the neighboring country need to be ready to host possible refugees. As always, we are ready to help those who are in need but hopefully it won't happen." Poland shares border with Ukraine and also Russian territory of Kaliningrad. On Taiwan he said, while his country "sticks to one china policy" at "economical level, we are ready to cooperate with Taipei"

Poland Minister Przydacz sees India's "positive" role amid Ukraine-Russia crisis

Global markets snapped back from a horrific bloodbath on Tuesday after Russia announced the withdrawal of its troops from Ukraine, indicating a possible thaw in the border conflict.

The pan-European&nbsp;Stoxx 600&nbsp;index provisionally ended up 1.3 per cent higher, with healthcare stocks adding 2.1 per cent to lead gains as almost all sectors and major bourses entered positive territory.

The Dow Jones Industrial Average jumped about 400 points, or 1.2 per cent, helped by a 3 per cent jump in Boeing.

The S&amp;P 500 climbed 1.6 per cent and the technology-heavy Nasdaq Composite advanced 2 per cent.

All three major benchmarks were down in the three prior sessions.

The S&amp;P 500 is about 8 per cent from its record high. The small-cap benchmark Russell 2000 rallied 1.9 per cent.

WTI crude prices fell 3 per cent, while the 10-year Treasury yield jumped to 2.04 per cent as tensions eased.

The VanEck Russia ETF, a US-traded fund which invests in big Russian stocks, jumped nearly 5 per cent.

Also read |&nbsp;<a href="https://www.wionews.com/world/russia-pulls-back-some-troops-from-ukraine-border-kyiv-says-we-will-see-then-believe-453452">Russia pulls back some troops from Ukraine border</a>

While Tuesday’s gains didn’t cancel out Monday’s losses, they helped repair some of the damage inflicted on the value of Britain’s top firms from sweeping fears over an imminent Russian insurgency of Ukraine.

India’s Sensex also saw a sharp rebound earlier in the day, prompted by reports that Russia is de-escalating tensions with Ukraine.

After a bruising sell-off on Monday, Indian equities rebounded to close higher. The gains on domestic markets were led by banks, auto, IT, metal and FMCG stocks.

Also read |&nbsp;<a href="https://www.wionews.com/world/ready-to-work-together-with-the-west-says-putin-in-joint-press-conference-with-olaf-scholz-453543" hreflang="en">'Ready to work together' with the West, says Vladimir Putin</a>

The Sensex surged 1,736.21 points or 3.08 per cent to close the day at 58,142.05, and the Nifty rose 509.70 to 17,352.50.&nbsp;

All sectoral indices ended higher, with auto, realty, IT, FMCG stocks, banks, PSU banks up 2-4%. BSE MidCap and SmallCap indices rose 2 per cent each.

Oil prices, which have shot to seven-year highs on the Ukraine crisis, tumbled as much as four per cent in value.

Wheat price also cooled on Tuesday. Russia and Ukraine are major producers and exporters of the commodity.

Fears that Russia could invade Ukraine in the coming days, a claim the Kremlin has repeatedly denied, had gripped markets on Monday.

But, Russian Defence Ministry spokesman Igor Konashenkov confirmed&nbsp;on Tuesday that&nbsp;military units from the southern and western districts of Russia&nbsp;had begun returning to their garrisons.

(With inputs from agencies)

Global markets snapped back from a horrific bloodbath on Tuesday after Russia announced the withdrawal of its troops from Ukraine, indicating a possible thaw in the border conflict.

Global markets snapped back from a horrific bloodbath on Tuesday after Russia announced the withdrawal of its troops from Ukraine, indicating a possible thaw in the border conflict. The pan-European Stoxx 600 index provisionally ended up 1.3 per cent higher, with healthcare stocks adding 2.1 per cent to lead gains as almost all sectors and major bourses entered positive territory. The Dow Jones Industrial Average jumped about 400 points, or 1.2 per cent, helped by a 3 per cent jump in Boeing. The S&P 500 climbed 1.6 per cent and the technology-heavy Nasdaq Composite advanced 2 per cent. All three major benchmarks were down in the three prior sessions. The S&P 500 is about 8 per cent from its record high. The small-cap benchmark Russell 2000 rallied 1.9 per cent. WTI crude prices fell 3 per cent, while the 10-year Treasury yield jumped to 2.04 per cent as tensions eased. The VanEck Russia ETF, a US-traded fund which invests in big Russian stocks, jumped nearly 5 per cent. Also read | Russia pulls back some troops from Ukraine border While Tuesday’s gains didn’t cancel out Monday’s losses, they helped repair some of the damage inflicted on the value of Britain’s top firms from sweeping fears over an imminent Russian insurgency of Ukraine. India’s Sensex also saw a sharp rebound earlier in the day, prompted by reports that Russia is de-escalating tensions with Ukraine. After a bruising sell-off on Monday, Indian equities rebounded to close higher. The gains on domestic markets were led by banks, auto, IT, metal and FMCG stocks. Also read | 'Ready to work together' with the West, says Vladimir Putin The Sensex surged 1,736.21 points or 3.08 per cent to close the day at 58,142.05, and the Nifty rose 509.70 to 17,352.50. All sectoral indices ended higher, with auto, realty, IT, FMCG stocks, banks, PSU banks up 2-4%. BSE MidCap and SmallCap indices rose 2 per cent each. Oil prices, which have shot to seven-year highs on the Ukraine crisis, tumbled as much as four per cent in value. Wheat price also cooled on Tuesday. Russia and Ukraine are major producers and exporters of the commodity. Fears that Russia could invade Ukraine in the coming days, a claim the Kremlin has repeatedly denied, had gripped markets on Monday. But, Russian Defence Ministry spokesman Igor Konashenkov confirmed on Tuesday that military units from the southern and western districts of Russia had begun returning to their garrisons. (With inputs from agencies)

Russia-Ukraine crisis: Global markets snap back from one-day bloodbath as first signs of thaw emerge

On January 31, India abstained from the United Nations Security Council vote on Ukraine.

Ten states, namely the US, UK, France, UAE, Ghana, Albania, Norway, Brazil, Mexico and Ireland, voted in favour of taking up the Ukraine issue.

On the other hand, only Russia and China voted against it. Whereas three member states —India, Gabon and Kenya skipped.

Giving reasons, India’s permanent representative to UNSC, TS Tirumurti said, “India's interest is in finding a solution that can provide for immediate de-escalation of tensions taking into account the legitimate security interests of all countries and aimed towards securing long term peace and stability in the region and beyond. We have also been in touch with all concerned parties. It is our considered view that the issue can only be resolved through diplomatic dialogue.”

The abstention is being viewed as a repeat of 2014, when in the aftermath of Russia’s annexation of Crimea from Ukraine, India abstained from a resolution backed by Ukraine, the US&nbsp;and the EU&nbsp;that sought to condemn Kremlin's actions in the General Assembly vote in March, 2014.

Many analysts, especially from the West, at that time and even now termed India as a “fence-sitter”, meaning India is not committed to the issue.

However, India’s move was rather well-calculated and thought-out. It was actually engaging “both sides of the fence”, trying to balance its ties with Moscow and Washington.

For India, the Ukraine crisis is one of the biggest&nbsp;foreign policy issues, potential to have massive ramifications politically and economically.

There are probably three reasons why.

Military equations

Moscow makes up about half of India’s total weapons import. India needs Russia to service its arms, and also for joint products, like the Brahmos missile.

Hence, abandoning Russia is not an option for New Delhi. And at the same time, siding with Russia could incur American sanctions, i.e., CAATSA (The Countering America's Adversaries Through Sanctions Act).

The Biden administration is in the process of making a decision on whether to sanction India for its purchase of the S-400 Russian missile systems or to process a waiver, considering the close India-US&nbsp;defence ties.

If New Delhi openly sides with Russia, then Biden may reconsider imposing sanctions.

China factor

In recent years, China has become the biggest threat for India—openly acknowledged by Indian Army chief MM Naravane.

Hence, India needs both Russia and US to counter China.

America is China’s rival while Russia is an ally. One brings deterrence, whereas the other brings leverage.

Russia could be effective in tempering China’s aggression and America, on the other hand, will undermine its designs.

So, it’s a win-win for India. But that advantage disappears if India picks a side.

Economic fallout

The India-Russia bilateral trade is worth $8 billion, while the India-Ukraine trade is worth around only $2.7 billion.

If a war breaks out, supply chains are going to be disruptive. And the one product that will worry India is oil, both as a fuel and cooking oil.

Last year, India bought 1.8 million tonnes of sunflower oil and 74 per cent of that came from Ukraine. So, if a war breaks out cooking oil may become more expensive.

India is already preparing for this eventuality and new markets are being explored, like Brazil and Argentina.

Then comes the petroleum. Brent crude has already breached the 90$-mark, which the possibility to reach even the $100-mark.

Russia makes up around 20 per cent of the global supply of natural gas. If Ukraine is attacked, the prices of natural gas is going to skyrocket

And this could disrupt India’s energy plans. So, India has a lot at stake in this conflict.

&nbsp;

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(With inputs from agencies)

On January 31, India abstained from the United Nations Security Council vote on Ukraine. Ten states, namely the US, UK, France, UAE, Ghana, Albania, Norway, Brazil, Mexico and Ireland, voted in favour of taking up the Ukraine issue.

On January 31, India abstained from the United Nations Security Council vote on Ukraine. Ten states, namely the US, UK, France, UAE, Ghana, Albania, Norway, Brazil, Mexico and Ireland, voted in favour of taking up the Ukraine issue. On the other hand, only Russia and China voted against it. Whereas three member states —India, Gabon and Kenya skipped. Giving reasons, India’s permanent representative to UNSC, TS Tirumurti said, “India's interest is in finding a solution that can provide for immediate de-escalation of tensions taking into account the legitimate security interests of all countries and aimed towards securing long term peace and stability in the region and beyond. We have also been in touch with all concerned parties. It is our considered view that the issue can only be resolved through diplomatic dialogue.” The abstention is being viewed as a repeat of 2014, when in the aftermath of Russia’s annexation of Crimea from Ukraine, India abstained from a resolution backed by Ukraine, the US and the EU that sought to condemn Kremlin's actions in the General Assembly vote in March, 2014. Many analysts, especially from the West, at that time and even now termed India as a “fence-sitter”, meaning India is not committed to the issue. However, India’s move was rather well-calculated and thought-out. It was actually engaging “both sides of the fence”, trying to balance its ties with Moscow and Washington. For India, the Ukraine crisis is one of the biggest foreign policy issues, potential to have massive ramifications politically and economically. There are probably three reasons why. Military equations Moscow makes up about half of India’s total weapons import. India needs Russia to service its arms, and also for joint products, like the Brahmos missile. Hence, abandoning Russia is not an option for New Delhi. And at the same time, siding with Russia could incur American sanctions, i.e., CAATSA (The Countering America's Adversaries Through Sanctions Act). The Biden administration is in the process of making a decision on whether to sanction India for its purchase of the S-400 Russian missile systems or to process a waiver, considering the close India-US defence ties. If New Delhi openly sides with Russia, then Biden may reconsider imposing sanctions. China factor In recent years, China has become the biggest threat for India—openly acknowledged by Indian Army chief MM Naravane. Hence, India needs both Russia and US to counter China. America is China’s rival while Russia is an ally. One brings deterrence, whereas the other brings leverage. Russia could be effective in tempering China’s aggression and America, on the other hand, will undermine its designs. So, it’s a win-win for India. But that advantage disappears if India picks a side. Economic fallout The India-Russia bilateral trade is worth $8 billion, while the India-Ukraine trade is worth around only $2.7 billion. If a war breaks out, supply chains are going to be disruptive. And the one product that will worry India is oil, both as a fuel and cooking oil. Last year, India bought 1.8 million tonnes of sunflower oil and 74 per cent of that came from Ukraine. So, if a war breaks out cooking oil may become more expensive. India is already preparing for this eventuality and new markets are being explored, like Brazil and Argentina. Then comes the petroleum. Brent crude has already breached the 90$-mark, which the possibility to reach even the $100-mark. Russia makes up around 20 per cent of the global supply of natural gas. If Ukraine is attacked, the prices of natural gas is going to skyrocket And this could disrupt India’s energy plans. So, India has a lot at stake in this conflict. (With inputs from agencies)

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