Russia Announces Withdrawal of its Troops from the Ukraine Border

On Tuesday, Russia announced that it was withdrawing some troops from the Ukrainian border to their bases. It would be the first step towards the de-escalation after weeks of crisis with the West.

The Russian defense ministry disclosed that troops deployed near the border had concluded their military exercise and were ready to leave the place. It is yet not clear how many units were involved and the impact of withdrawal surrounding Ukraine, but it was the first step from the Russian government, which calmed down the geo-political scene a bit. However, the real crisis that deepened during this period brought significant impact at a global level.

Amidst the ‘uncertainties,’ on Tuesday, India advised its citizens, especially the students, to leave the country temporarily. Nearly 20,000 Indians are studying in Ukraine. The Embassy of India in Kyiv read, “In view of the uncertainties of the current situation in Ukraine, Indian nationals in Ukraine, particularly students whose stay is not essential, may consider leaving temporarily. Indian nationals are also advised to avoid all non-essential travel to and within Ukraine.”

The chaos and fear caused due to the deployment of troops near the border gave chills to Ukrainians. In a reported incident, Ukrainian teenager Mykhailo Anopa joined hands with other teenagers and dug trenches for soldiers serving on his country’s eastern front and facing the Russian-backed separatists.

On the financial front, the European stocks market shot up a little higher on Tuesday, the US dollar slipped down, and gold was just below an eight-month high since investors remained concentrated on the Russia-Ukraine crisis.

The US made a statement regarding the invasion of Ukraine by Russia that immediately prompted the investors to sell off the risky assets.

After the stocks fell in the US and Asian sessions, there were indications of improvement in European trading.

The MSCI world equity index, which tracks shares in 50 countries, witnessed a rise of 0.2% on 0839 GMT, which was its first positive experience after three consecutive days of a drop of 0.9%.

The oil price also fell after the seven-year highs hit on Monday.

The US dollar index fell 0.2% on the day at 96.046, retreating from the two-week severe hit on Monday. The Euro experienced a shoot of 0.3% at USD 1.1341, and other currencies like the British and Australian Dollar too gained some power.