The day Russian President Vladimir Putin ordered his troops to attack Ukraine, It became a matter of time for Russia to face the consequences of its action. America, the EU and several other members of G7 countries started imposing sanctions on Russia. Belarus is another country that faced consequences for helping Russia in waging war against Ukraine. 

Sanctions Imposed by Various Countries

  • Joe Biden was quite aggressive in his stance against Russia's invasion of Ukraine and it was very much evident in his actions. 
  • America is even supplying ammunition to Ukraine so that they could continue to defend themselves. The travelling sanctions are imposed on Putin and ministers of his Government.
  • U.S. Treasury took unprecedented steps against Russia's two largest financial institutions Sberbank and VTB Bank making them too difficult to operate. 
  • America barred 13 major Russian firms to raise money from the U.S market. 
  • EU took more stringent action against Russia. They have imposed a travel ban and frozen the assets of 877 people.
  • EU countries like Germany have even advised other members in their meeting to reduce their dependency on oil and gas. It would significantly affect Russia as it is the major importer of gas and oil.

China's Stand

China Condemned the steps taken by America and the EU. China in the EU summit blamed America for the current situation in Asia. 

Foreign ministry spokesperson Zhao Lijian said, "China disapproves of solving problems through sanctions, and we are even more opposed to unilateral sanctions and long-arm jurisdiction that have no basis in international law. As the culprit and leading instigator of the Ukraine crisis, the U.S. has led NATO to engage in five rounds of eastward expansion in the last two decades after 1999". China said that the increase in NATO members from 16 to 30 made Russia insecure.

Problem For India

With the days increasing and so does the brutality of Russia on Ukraine, The pressure is on India to pick a side. America has made it clear whether it's India or any other close ally of America, If they try to support Russia through any means will have harsh consequences. 

India however, has tried to maintain its good relationship with Russia by abstaining from voting on the resolution against Russia in the UNSC.

  • The defence imports of India from Russia account for 45% in the last 5 years.
  • India and Russia are close allies even before the cold war started.
  • India bought oil at a discounted rate from Russia which upset America. According to America, any country buying goods from Russia will be helping Russia in their war against Ukraine.

Conclusion

  • America with its other allies stop imposing sanctions on Russia and rather go for a peace talk.
  • America should propose a peace talk between the Russian President and the Ukrainian President. It could take help from India to convince the Russian President.
  • India should be careful of both their allies (i.e.., America and Russia) before having any trade with either of the two countries.
  • India should achieve its goal of 'Atma Nirbhar Bharat' at a war footing pace. So, India couldn't be reliable on any other country for oil, defence, gas and other goods.