US war cry over Russia-Ukraine crisis, interest rate commentary causing jitters in global markets, Ajay Bagga says

The ongoing Russia-Ukraine crisis is expected to impact the commodity prices, Market Expert Ajay Bagga tells Zee Business Managing Editor Anil Singhvi in an exclusive interview.

Bagga said that oil price may go up in the future and pointed out that the government must keep the economy protected.

The ongoing Russia-Ukraine crisis is expected to impact the commodity prices, Market Expert Ajay Bagga tells Zee Business Managing Editor Anil Singhvi in an exclusive interview. He was of the view that it will be difficult for the US to impose sanctions on Russia.

He also ruled out any near term likelihood of war at least till the conclusion of Beijing Winter Olympics citing that China would be against it.

The current US strategy is a departure from its stand on Afghanistan where the Biden Administration had adopted a silence, this expert said. In this case there is a continuous war from the administration. This is despite Ukraine's own assertions that nothing will happen.

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This has been impacting the markets world over, Bagga said.

Bagga said that oil price may go up in the future and pointed out that the government must keep the economy protected.

The second reason is the statement by US Fed President Lael Brainard who has called for raising interest rates by 100 basis points by July and 50 basis points by March in the wake of current inflation situation. These two reasons have had a catastrophic impact on the stock markets, Bagga said.
He said that the Ukraine crisis could have an impact on commodities like Oil as Russia is the third biggest producer of oil. Europe's 40 percent gas requirements are met by the country as well, he added.

Russia also accounts for 10 percent copper and aluminium production. Considering all these factors it will be difficult for the US to slap sanctions on Russia. On the other hand, Russia also has its hand tied-up so a Ukraine invasion will not be easy, he opined.

However, he sees Russian President Vladimir Putin as a clear winner from this episode.

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रूस-यूक्रेन के बीच तनाव का कमोडिटी कीमतों पर असर। रूस पर प्रतिबंध लगाना थोड़ा मुश्किल: अजय बग्गा

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