February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. 

So far, 193 Nepalis living in Ukraine have come in contact with Nepal’s embassy in Germany that is in charge of looking after affairs related to Russia. It is estimated that there are around 240 Nepali nationals studying and working in Ukraine. However, the vice president of the Non-Resident Nepalese Association (NRNA), Dr Badri KC informed that there are around 400 Nepalis living in Ukraine. "Even though Nepalis are safe till now, we are still concernd about relocating them," he said. 

The embassy has requested those in contact to move to a safer location in the west and stay in touch as the attack is currently taking place only in the eastern parts of the country. Advocate and labor and immigration expert Som Luintel, who has been providing assistance to those in need during foreign employment, said that the government should give priority to rescue those in contact even if their condition is said to be safe. 

The price of crude oil has been sharply rising in the world market due to the war between Russia and Ukraine. Russia is one of the top oil suppliers in the world. Brent crude rose to its highest level since 2014, following fears of an impact on Russian oil supplies on Thursday. 

Economists and market analysts estimate that crude oil prices could reach $150 a barrel, with worse conditions expected. 

As a result of the war, prices of gold and other commodities are expected to rise. Russia and Ukraine are the world's leading food suppliers. Russia and Ukraine account for 29 percent of the world's total wheat trade. The supply of 19 percent maize also come from these two countries. 

About 80 percent of supply of sunflower oil in the world market comes from Russia and Ukraine. Prices of food items including wheat, maize and soybeans have skyrocketed in the world market since mid-February due to rising tensions between Russia and Ukraine. As a result of the war, the prices of palm oil and soybean oil have also increased along with sunflower oil. 

Economist Dr Poshraj Pandey says that Nepal will face indirect impact of the Ukraine war. He said that as Nepal's economy is import-oriented, inflation will rise when there is a problem in global supply chain. Recently, the United States, the United Kingdom and other countries have increased their assistance to Nepal.

“If the situation worsens, the donors might cut grant assistance to Nepal in order to manage expenses for the war,” he added.