World economical weekly analysis and Russia Ukraine crisis updates, by forex forum.

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World Economical news and analysis, By forex forum.​


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US President Joe Biden certainly seems to think so. He has warned that Russia is set to invade Ukraine in the coming days and accused it of engaging in "a false flag operation to have an excuse to go in". Ukraine and Russia have been blaming each other for some shelling close to the border and the West fears that the Kremlin will use this as a pretext for invasion.

Earlier in the week, there were reports of Russia withdrawing forces from the border, but the US has called this claim "false". On Friday afternoon, Russia said it will start certain nuclear exercises and drills.

Source: moneycontrol.com

On the other hand, Petrol and diesel prices remained unchanged on February 19, a notification issued by state-owned fuel retailers showed, with no change in rates for more than 100 days now.​


The last rate cut was by Delhi when it reduced the local sales tax, or the value-added tax (VAT), on petrol from 30 to 19.4 percent from December 1 midnight, bringing down the price by around Rs 8 to Rs 95.41 a litre. Diesel price remains unchanged in the national capital at Rs 86.67 a litre.

On November 3, the Centre had gone for the deepest excise duty cut ever to cool retail prices from record highs, reducing the duty on petrol by Rs 5 and on diesel by Rs 10. Many states and union territories followed the Centre's led to give further relief to consumers.

In Mumbai, a November 4 cut reduced the price of petrol to Rs 109.98 a litre, which remains unchanged. Diesel is at Rs 94.14 a litre.

Elsewhere, President Vladimir V. Putin of Russia presided over the theatrically timed test launches of three ballistic and cruise missiles on Saturday as part of what were described as nuclear deterrence exercises, in a blunt reminder to the West that any conflict over Ukraine could quickly escalate.

The tests came as shelling continued in eastern Ukraine, including the region controlled by Russia-backed separatists. On Saturday morning, separatist leaders issued a call to arms for what they claimed was a pending invasion by Ukrainian forces — a claim that Ukrainian officials scoffed at as Russian propaganda.

A day earlier, separatist leaders had ordered 700,000 women and children to begin evacuating eastern Ukraine for Russian territory, and by Saturday some buses had begun to arrive on the Russian side.

On the other hand, Canadian public opinion about the Ottawa trucker convoy protesting against vaccination mandates has been unevenly split between anti-government flag-wavers scrawling messages of support on the side of lorries, people who have sympathy for the truckers' frustrations but are appalled by their blockading tactics, plus a third group: counter-protesting Ottawa residents, pictured here, who feel so let down by the police's inability to end the convoy after several weeks, they have taken to the streets themselves with signs including "go home" and "mob rule is not democracy".

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