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Ukraine war

How Russia's Ukraine attack affects Asian business: 5 things to know

From energy to airlines to IT, companies feel impact amid COVID recovery

Russia's invasion of Ukraine could have serious consequences for companies and consumers across Asia. (Source photos by Reuters)

SINGAPORE -- The Ukraine crisis entered a critical phase on Thursday, with Russian President Vladimir Putin launching military attacks on the neighboring country. While Asian companies have less exposure to the two nations than their European peers do, the conflict could still affect businesses in the region.

Rising oil prices will impact both businesses and consumers, while inflation and geopolitical tensions threaten to drag down investment sentiment and demand for travel just when companies are starting to recover from the COVID-19 crisis.

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