Nearly two months after Russian President Vladimir Putin decided to invade Ukraine, countries across Asia are bracing themselves for rising inflation and supply chain disruptions, following increasing sanctions on the Russian state.
According to experts, the most affected country in Asia is Thailand, where commodity trading with its European counterpart has become almost impossible. Different types of commodities traded and the individuals that trade have been the hardest hit. One such individual is Peyton Enloe, a Bangkok-based exporter, who claims that getting Thai fruit and vegetables onto Russian supermarket shelves is arduous.
The sanctions have taken a heavy toll on the Russian currency, which had plummeted to record lows, meaning Russian consumers have had to cut back on what they deem as luxuries.
Russia has already defaulted on its latest debt payments.
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