The Cabinet deliberates on the effects of the war in Ukraine

The Cabinet on Tuesday deliberated on the current situation of the ongoing war in Ukraine.

The Cabinet meeting was held on Tuesday afternoon at the President’s Office.

During the deliberations, members discussed the potential effects on the Maldivian economy as a result of the conflict and preemptive steps to mitigate those effects.

The Cabinet members also discussed the Maldives' foreign policy stand on the issue.

One of the most heavily impacted market due to the Russia-Ukraine conflict is the oil market. Due to the sanctions against Russia and the newly implemented embargo on Russian oil by The United States of America oil prices have been increasing.

Since the Russians started their attacks on Ukraine on February 24, the oil prices skyrocketed more than it ever has since 2008. Reports say that the oil price have since increased by 30 percent.

As soon as the Russia-Ukraine conflict started, the Maldivian government started work to assure the safety of Maldivians living in Ukraine. With the Ministry of Foreign Affairs working around the clock, we saw all the Maldivians who were in Ukraine brought back to Maldives safely.

The Ministry is in close contact with Maldivian students in Belarus and Russia as well.