The war might be between Russia and Ukraine but the sufferer might be the whole world. There are reports that the world can face severe crises over Crude and edible oil as Ukraine is the hub of oil suppliers throughout the world.
Take the example of India. Over 90 per cent of the sunflower oil of India comes from Ukraine. Over 50 per cent of Crude oil and natural gas comes from Russia and Ukraine to India. Therefore, if the war continues to cause a massacre, India will be in deep trouble as prices of oil will go as high as no one can ever imagine.
Petroleum Minister Hardeep Singh Puri had a detailed discussion with the PMO and Finance Ministry about the losses Indian oil companies were facing due to the crisis. During the discussion, the Finance Ministry officials said that they would keep a tab on the current excise level.
