While the global financial, as well as security scenario, suffers a jolt with the ongoing war between Russia and Ukraine, the coming days, rather, years, are going to be tough for the world as the sanctions imposed on Russia by the west as well as Europe will start manifesting its effects beyond borders. These sanctions are not going to spare anyone; rather, people around the world are going to face the music with giant sectors, such as technology taking a massive hit.
The effects on the technology, particularly, the military technology, are going to manifest particularly in the countries that are amassing weaponry and other advanced ammunition. At the same time, with Russia being the biggest player in the sector, the US is also not going to be spared by the same. With the imposition of sanctions, the crude oil prices have already gone up and the same is expected to touch the sky in days to come—which is something that will shake economies across the globe in no time.
While India in particular is aware of the sanctions and at the same remains the biggest importer of Russian technology, it already is preparing to continue trade links with Russia on grounds that are away from the landscape of sanctions imposed on the west. The move, even though it is in contrast with the global prevalent scenario, should be enough to illustrate the importance of Russia in the global technology sector.
Even though the effects on the global technology sector concerning sanctions on Russia are going to be massive, China, in the middle of it, has got a vital role to play, even though the US has already tried to persuade the Chinese Tech companies to join its sanctions over Russia, however, Beijing has already warned the US against hurting Chinese interests.
The US is well aware of the fact that it alone cannot handle Russia in ensuring the effects of the sanctions, and will for sure need assistance from other countries such as Singapore, Japan, Korea, and Taiwan. As of now, the US is actively pursuing it and most of the countries have toed the line, making it more difficult for Russia—which has now got limited options left.
While the effects of the sanctions are going to be tremendous, Russia has got a giant option of China on its plate. It is China that can provide Russia with a by-pass over the sanctions and can let it continue its dominance in military technology in particular. Because, as stated earlier, the needs of nations that are in a race to amass technology and weaponry could only be satiated through China.
