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Ukraine war

ASEAN faces fallout from Russian invasion of Ukraine

Conflict to increase food prices, experts warn; responses from bloc members vary

ASEAN is caught between Russian President Vladimir Putin, left, and Ukraine President Volodymyr Zelenskyy. Opinions within the block vary, but the conflict's effects will be felt by all. (Source photos by AP)

JAKARTA -- Russia's invasion of Ukraine may be far from Southeast Asia, but the region is not immune from fallout that may arise from the incursion.

On the surface, both Russia and Ukraine have few economic ties with the 10-nation ASEAN bloc. Russia only accounted for 0.53% of ASEAN's overall goods trade by value in 2020, and Ukraine only 0.1%, according to ASEANstats, the bloc's data portal. Economic ties are even more minuscule in terms of investments: Russia accounted for only 0.046% of foreign direct investment into ASEAN, and Ukraine 0.003%.

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