New York, Feb 20 : The Russia-Ukraine confrontation seems to be like an event which began just the other day or yesterday, but would be marking its first anniversary on February 24.

When it began, it appeared as if it would be a short affair lasting a couple of weeks or maybe if stretched, a couple of months. Time flies and so has this event.

Today, except for those involved with the confrontation, Russia and Ukraine, the world seems to have forgotten the event. It’s like nobody else is affected and hence not bothered.

World markets were impacted when the confrontation began. The time was just after the world had more or less recovered from the second wave of Covid pandemic and things were near normal. When the news of the war hit the world, it caused a huge upheaval in commodities availability, supply issues as prices skyrocketed.  A country like India exported some wheat in the initial stages before the government clamped down on the same. Crude prices rose sharply and Russia tweaked the way it sells crude to counter sanctions imposed on itself by the Western world.  The big beneficiaries were China and India because they found land routes to get crude oil for their consumption, and at substantially discounted rates as well.