More than 1500 people have been reported killed in war in Ossetia which broke out as the Georgia-Russia conflict was escalated. After missile attacks and air raids ,Russian armored troops have entered the province of South Ossetia escalating it into a full scale war.
Georgia, a strong U.S. ally had a long term conflict with Russia and also it recently agreed to join in the NATO which is considered one of the major factors that pushed Russia to strike.
Georgia has called for a ceasefire after latest reports that Russia has widened the attack and the death toll may cross 3000.
"I call for an immediate ceasefire," Georgian President Mikheil Saakashvili said in Tbilisi. "Russia has launched a full scale military invasion of Georgia."
Many prominent countries like US ,Germany have asked Russia to stop the battle.
On the same day, Oil prices went down to $115 which is the lowest in recent times and was expected go down further as the US Dollar is still going stronger.As a result US markets are soaring easing down inflation worries.
But there are reports that Russian troops are targeting Georgia pipelines which is causing concerns. But experts say that, even if there is a rise it will be still be under $120 which is fairly positive news to the markets.
Georgia, a strong U.S. ally had a long term conflict with Russia and also it recently agreed to join in the NATO which is considered one of the major factors that pushed Russia to strike.
Georgia has called for a ceasefire after latest reports that Russia has widened the attack and the death toll may cross 3000.
"I call for an immediate ceasefire," Georgian President Mikheil Saakashvili said in Tbilisi. "Russia has launched a full scale military invasion of Georgia."Many prominent countries like US ,Germany have asked Russia to stop the battle.
On the same day, Oil prices went down to $115 which is the lowest in recent times and was expected go down further as the US Dollar is still going stronger.As a result US markets are soaring easing down inflation worries.
But there are reports that Russian troops are targeting Georgia pipelines which is causing concerns. But experts say that, even if there is a rise it will be still be under $120 which is fairly positive news to the markets.
Before taking major decisions Russia must remember that all wars have always resulted in negativity and it will continue to do so regardless of whatever reasons behind it.
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