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HomeEconomyHow the Russia-Ukraine War Is Impacting Vietnam’s Economy – The Diplomat

How the Russia-Ukraine War Is Impacting Vietnam’s Economy – The Diplomat

Pacific Money | Economy | Southeast Asia

Vietnamese businesses are already seeing the fallout from the conflict in Eastern Europe, and the impacts are only set to increase.

Fruits and vegetables for sale at a street market in Vietnam.

Credit: Depositphotos

On February 24, Russia’s President Vladimir Putin ordered his troops to invade Ukraine. Most Western countries, including the United States, European Union, United Kingdom, Australia, and Canada quickly imposed sanctions on Russia in response. These sanctions were unusually tough and some analysts believe that they are intended to hobble Russia’s economy and punish Putin, his high ranking officials, and wealthy oligarchs who are considered close to the Kremlin.

These sanctions against Russia will have a significant impact on the global economy, and Vietnam’s economy will not…

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