So far, if Thailand is officially taking sides, nothing has been announced. The major concern in Thailand is how this will affect oil prices, which many can ill afford to see significantly rise. Unfortunately, those prices are expected to soar very soon. No word at this time predicting just how much. And, of course, nobody has any idea yet how this will affect international tourism.
Russians in Thailand can still travel freely between Thailand and most Russian destinations.
Ukrainians in Thailand cannot go back to Ukraine now, but Thailand is suggesting they travel to Poland, where apparently they can stay until the danger has passed and they can be repatriated. My understanding is Thailand is not planning to force them out, even if their visas expire, but they are having serious problems getting anyone to accept their cash for fear it will soon be worthless. They are also finding it impossible to use ATMs because in Ukraine the internet has been cut off. No official word at this point as to how many Ukrainians currently are in Thailand and will need help.
How the Russia-Ukraine conflict affects Thailand
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Gaybutton
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Undaunted
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Re: How the Russia-Ukraine conflict affects Thailand
Thailand joins with China and refuses to call it an invasion. Dollar climbs as ruble sinks.
"In the land of the blind the one eyed man is king"
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Gaybutton
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Re: How the Russia-Ukraine conflict affects Thailand
What is your source on that? I don't see any particular climb in the dollar. I wish I did. At the moment the dollar is lower than it was less than a month ago. Many of us receive our retirement benefits at the end of the month, so unless something changes in our favor, and fast, we're going to receive thousands of baht less this month than we did last month.
Every time there is some sort of military crisis other countries call for negotiation and cooler heads prevailing when they all know damned well that won't happen. Will any other countries intervene militarily on either side? I doubt it.
Want a bizarre question? How about this - A Ukrainian in Thailand gets arrested or gets caught overstaying his visa and is ordered deported. Under current circumstances, how is it possible to do that?
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Thailand’s Foreign Affairs Ministry express concern over Russia-Ukraine situation, Thai PM to order chartered planes for evacuation
By Nop Meechukhun
24 February 2022
Thailand’s Ministry of Foreign Affairs has released its statement to express its concerns over the Russia-Ukraine situation following Russia’s invasion and Ukraine’s emergency state declaration this morning, February 24th.
The statement said that Thailand has been following developments in Ukraine and especially the escalation of tensions in Europe with deep concern. The country supports ongoing efforts to find a peaceful settlement to the situation through dialogue.
According to the Ministry of Foreign Affairs, there are 139 legal Thai workers who are still employed in Ukraine, as of January 2022. Of which, 116 are self-traveling and 23 are with a larger company. Most of them work in massage and spa positions and about 126 of them are from a union/group of job seekers that work abroad.
The Royal Thai Embassy in Warsaw, Poland has closely communicated with the Thai people in order to prepare for a timely resolution as well as health assistance.
Meanwhile, Prime Minister Prayut Chan-O’Cha has ordered the Ministry to constantly inform him about the situation in Ukraine and has planned to deploy chartered planes to directly evacuate Thai people from Ukraine. In case of closed airspace, the Thai authorities would arrange vehicles to collect Thai people to Warsaw Airport to return to Thailand via chartered planes.
Thai people residing in Ukraine can contact for help at The Royal Thai Embassy in Warsaw, Poland, via the phone number +48-696-642-348 (24 hours) or E-mail: [email protected]
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Ukraine crisis complicates Thai immigration issues
By Barry Kenyon
February 25, 2022
World shock at Putin’s invasion of Ukraine obviously sidelines Thailand’s entry and exit problems, but nonetheless they certainly abound. It can safely be assumed that tourist arrivals from both Russia and Ukraine will be sharply reduced to say the least, whilst there are already rumors of cancelled flights in both directions.
Many Russian tourists are already returning in haste, whilst flights to Ukraine are jeopardized by the shelling of Kyiv’s main airport. The Tourist Authority of Thailand confirms today that the negative effect is “instant” and that attempts are being made to evacuate the 250 Thai citizens thought to be trapped in Ukraine.
As regards the Russians and Ukrainians still in Thailand, thought to number tens of thousands, their extension of visa options are narrowing. Although the 60 day “Covid extensions” are still technically available until next month, they are at the discretion of each Thai immigration office. This was confirmed by the Bangkok immigration hotline earlier today.
However, some Russian and Ukrainian tourists in Thailand have already lobbying their local immigration offices for extensions of stay. Inquiries have centered around annual visas for marriage and retirement, as well as Elite visas, as tourist extension opportunities run out. Officials at Chonburi Immigration said that business was relatively quiet with no long queues.
https://www.pattayamail.com/latestnews/ ... ues-390558
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Gaybutton
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Re: How the Russia-Ukraine conflict affects Thailand
Folks, I don't want this board to become a place to sound off about your opinions of the Russia-Ukraine conflict. However, facts and opinion about how this is affecting Thailand are appropriate for this board. If you wish to discuss it, let's stick to that aspect of the conflict, please.
As it stands now, Pattaya's beach concessionaires are complaining that due to the current upsurge in Covid cases, postponement of the music festival, and general reluctance of Thais to travel to Pattaya has caused their business to be off by 90%. I've witnessed that for myself. Something currently readily available on Beach Road, but rarely ever seen in Pattaya in past years - parking. There is plenty of room and available spaces for cars to park.
And since large numbers of both Russians and Ukrainians go to Pattaya, the conflict is going to additionally hurt international tourism at a terrible time for Pattaya's tourism industry to face even worse problems than they already face.
As it stands now, Pattaya's beach concessionaires are complaining that due to the current upsurge in Covid cases, postponement of the music festival, and general reluctance of Thais to travel to Pattaya has caused their business to be off by 90%. I've witnessed that for myself. Something currently readily available on Beach Road, but rarely ever seen in Pattaya in past years - parking. There is plenty of room and available spaces for cars to park.
And since large numbers of both Russians and Ukrainians go to Pattaya, the conflict is going to additionally hurt international tourism at a terrible time for Pattaya's tourism industry to face even worse problems than they already face.
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Gaybutton
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Re: How the Russia-Ukraine conflict affects Thailand
Flights from Thailand to Europe not affected by closure of Ukrainian airspace
By Pattaya Mail
February 27, 2022
The Ministry of Transport has assured that civilian flights from Thailand to Europe are not affected by the closure of Ukrainian airspace.
Transport Minister Saksayam Chidchob stated that outbound flights from Thailand have followed the International Civil Aviation Organization’s recommendations to avoid the conflict zone by flying south of Ukraine, over the airspace of Iran and Turkey. He added that air traffic along this route will probably increase after Ukraine has shut down its airspace to civilian airplanes on Thursday.
Thai Civil Aviation Authority (CAAT) director-general Suttipong Kongpool has disclosed that no Thai carriers are using Ukrainian airspace. Thai Airways is the only operator flying to Europe, and they have already informed CAAT that they adjusted their flight paths to safer airspace over Turkey a while ago due to the conflict zone.
According to CAAT director-general, Thai Airways is operating seven flights from Thailand to Europe. The seven routes are Bangkok-London (6 flights/week), Bangkok – Copenhagen (3 flights/week), Bangkok-Frankfurt (7 flights/week), Bangkok-Paris (2 flights/week), Bangkok-Zurich (3 flights/week), Bangkok-Brussels (2 flights/week) and Bangkok-Stockholm (3 flights/week).
https://www.pattayamail.com/thailandnew ... ace-390714
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A number of expats holding the retirement visa or any other visa for Thailand might also be unfortunate enough to find themselves in the danger zones and wish to be eligible for inclusion in the plans shown in the following article, but I doubt it. No mention of it anyway. An exception might be made if they are traveling with Thai spouses or families, but again no mention of it in this article.
My guess is such expats most likely will either be on their own or need to be in contact with their home country embassies and consulates to be able to get out. I hope all who wish to get out will be able to do so quickly and safely.
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Evacuation plans stepping up
Thais seek to leave Ukraine amid Russian bombardment
by Mongkol Bangprapa and Wassana Nanuam
27 February, 2022
Some 236 Thai nationals are seeking immediate evacuation out of Ukraine amid attacks by the advancing Russian military forces, the Foreign Ministry osaid.
Foreign Ministry spokesman Tanee Sangrat on Saturday said the ministry has an evacuation plan ready, with an operation centre set up in the western Ukrainian city of Lviv, which will serve as a temporary shelter for Thais.
"Some 236 Thais have requested immediate evacuation," Mr Tanee said, adding another 12 Thais were fleeing from the capital Kyiv, making their way towards Lviv on their own on Saturday.
Under the plan, Thai embassy officials in Warsaw, capital of neighbouring Poland, have been sent to Ukraine to help Thais fleeing cities under Russian military attack, Mr Tanee said.
There, the officials are working on coordinating with Ukrainian authorities to assist Thais seeking evacuation, he said.
"Lviv serves as a base where [Thais] are gathered and transported further across the [Polish] border to Warsaw before they will be flown back to Thailand," Mr Tanee said.
Lviv is about 400 kilometres away from Warsaw, he said, with overland travel time estimated to be 6 to 7 hours.
Three embassy officials arrived in Lviv on Friday and have set up the centre to assist Thais, according to a post on its Facebook page on Saturday.
On Saturday, there were 10 Thais with Ukrainian spouses sheltering at the centre, with about 20-30 more Thais from several Ukrainian cities saying they were heading there in their cars or on trains, the embassy said.
There are a total of 253 Thais in Ukraine, and most of them are spa workers or massage therapists, according to the MFA.
The Thai embassy in Warsaw previously said it had prepared routes for evacuation of Thais from Ukrainian cities to Lviv, and arranged for vehicles and trains to take them to the city safely.
A bus was also arranged to transport 49 Thai people from the south-western city of Odessa to Lviv on Saturday, the embassy said.
Col Wanchana Sawasdee, deputy spokesman for the Defence Ministry, said the Royal Thai Air Force will also send three C-130 transport aircraft to support the evacuation of Thais for a safe return to Thailand.
When they arrive back in Thailand, they will be taken to a quarantine facility in Chon Buri's Sattahip district under the care of the Royal Thai Navy, Col Wanchana said.
Government spokesman Thanakorn Wangboonkongchana said Prime Minister Prayut Chan-o-cha has monitored the situation in Ukraine closely.
The prime minister instructed state agencies, particularly the Energy Ministry, the Commerce Ministry, the Finance Ministry, the Board of Investment and the Tourism Authority of Thailand, to follow the potential impacts of the Ukraine conflict.
They were told to study the impact on prices of energy, consumer goods, inflation and currency exchange, and devise measures to ensure the negative effects are minimal, Mr Thanakorn said.
Story and evacuation map: https://www.bangkokpost.com/thailand/ge ... tepping-up
By Pattaya Mail
February 27, 2022
The Ministry of Transport has assured that civilian flights from Thailand to Europe are not affected by the closure of Ukrainian airspace.
Transport Minister Saksayam Chidchob stated that outbound flights from Thailand have followed the International Civil Aviation Organization’s recommendations to avoid the conflict zone by flying south of Ukraine, over the airspace of Iran and Turkey. He added that air traffic along this route will probably increase after Ukraine has shut down its airspace to civilian airplanes on Thursday.
Thai Civil Aviation Authority (CAAT) director-general Suttipong Kongpool has disclosed that no Thai carriers are using Ukrainian airspace. Thai Airways is the only operator flying to Europe, and they have already informed CAAT that they adjusted their flight paths to safer airspace over Turkey a while ago due to the conflict zone.
According to CAAT director-general, Thai Airways is operating seven flights from Thailand to Europe. The seven routes are Bangkok-London (6 flights/week), Bangkok – Copenhagen (3 flights/week), Bangkok-Frankfurt (7 flights/week), Bangkok-Paris (2 flights/week), Bangkok-Zurich (3 flights/week), Bangkok-Brussels (2 flights/week) and Bangkok-Stockholm (3 flights/week).
https://www.pattayamail.com/thailandnew ... ace-390714
_____________________________________________________________________________
A number of expats holding the retirement visa or any other visa for Thailand might also be unfortunate enough to find themselves in the danger zones and wish to be eligible for inclusion in the plans shown in the following article, but I doubt it. No mention of it anyway. An exception might be made if they are traveling with Thai spouses or families, but again no mention of it in this article.
My guess is such expats most likely will either be on their own or need to be in contact with their home country embassies and consulates to be able to get out. I hope all who wish to get out will be able to do so quickly and safely.
_________________________
Evacuation plans stepping up
Thais seek to leave Ukraine amid Russian bombardment
by Mongkol Bangprapa and Wassana Nanuam
27 February, 2022
Some 236 Thai nationals are seeking immediate evacuation out of Ukraine amid attacks by the advancing Russian military forces, the Foreign Ministry osaid.
Foreign Ministry spokesman Tanee Sangrat on Saturday said the ministry has an evacuation plan ready, with an operation centre set up in the western Ukrainian city of Lviv, which will serve as a temporary shelter for Thais.
"Some 236 Thais have requested immediate evacuation," Mr Tanee said, adding another 12 Thais were fleeing from the capital Kyiv, making their way towards Lviv on their own on Saturday.
Under the plan, Thai embassy officials in Warsaw, capital of neighbouring Poland, have been sent to Ukraine to help Thais fleeing cities under Russian military attack, Mr Tanee said.
There, the officials are working on coordinating with Ukrainian authorities to assist Thais seeking evacuation, he said.
"Lviv serves as a base where [Thais] are gathered and transported further across the [Polish] border to Warsaw before they will be flown back to Thailand," Mr Tanee said.
Lviv is about 400 kilometres away from Warsaw, he said, with overland travel time estimated to be 6 to 7 hours.
Three embassy officials arrived in Lviv on Friday and have set up the centre to assist Thais, according to a post on its Facebook page on Saturday.
On Saturday, there were 10 Thais with Ukrainian spouses sheltering at the centre, with about 20-30 more Thais from several Ukrainian cities saying they were heading there in their cars or on trains, the embassy said.
There are a total of 253 Thais in Ukraine, and most of them are spa workers or massage therapists, according to the MFA.
The Thai embassy in Warsaw previously said it had prepared routes for evacuation of Thais from Ukrainian cities to Lviv, and arranged for vehicles and trains to take them to the city safely.
A bus was also arranged to transport 49 Thai people from the south-western city of Odessa to Lviv on Saturday, the embassy said.
Col Wanchana Sawasdee, deputy spokesman for the Defence Ministry, said the Royal Thai Air Force will also send three C-130 transport aircraft to support the evacuation of Thais for a safe return to Thailand.
When they arrive back in Thailand, they will be taken to a quarantine facility in Chon Buri's Sattahip district under the care of the Royal Thai Navy, Col Wanchana said.
Government spokesman Thanakorn Wangboonkongchana said Prime Minister Prayut Chan-o-cha has monitored the situation in Ukraine closely.
The prime minister instructed state agencies, particularly the Energy Ministry, the Commerce Ministry, the Finance Ministry, the Board of Investment and the Tourism Authority of Thailand, to follow the potential impacts of the Ukraine conflict.
They were told to study the impact on prices of energy, consumer goods, inflation and currency exchange, and devise measures to ensure the negative effects are minimal, Mr Thanakorn said.
Story and evacuation map: https://www.bangkokpost.com/thailand/ge ... tepping-up
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Gaybutton
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Re: How the Russia-Ukraine conflict affects Thailand
Russian and Ukrainian tourists in Thailand beginning to face financial transaction and travel problems due to sanctions, invasion
By Nop Meechukhun
1 March, 2022
Russian and Ukrainian tourists in Surat Thani, Phuket, Pattaya, and other tourist destinations are starting to face financial transaction and travel problems following a ban of selected major Russian national banks yesterday, February 28th.
The Russia-Ukraine war has now affected the economic system and the tourism business in multiple Thai areas focused on tourism, including Samui, after Western nations and their allies, including the United States, the United Kingdom, the European Union, Australia, Canada, and Japan have expanded sanctions against Russia, resulting in the ban of many international financial transactions.
As of today, March 1st, both Ukrainian and Russian tourists as well as tour companies arranging tourists from both countries were now having difficulties in making and receiving payment via credit cards and international transfers. It was found that hotel room payments and other expenses made via credit card were not possible while Ukrainian tourists on Koh Samui wanted to stay longer and pay for extensions to witness and closely monitor the situation of their own country. Additionally, some citizens of both countries were now “stuck” because of flight bans, and some were limited on funds, made more difficult by new sanctions.
Ratchaporn Poolsawat, President of the Koh Samui Tourism Promotion Association, said the association had already acknowledged the problem because many hotels, restaurants, and other tourism businesses were affected.
He said: “Currently, Ukrainians in Koh Samui were now unable to fly back as the airspace was mostly closed but some also couldn’t make payments for services such as food, travel, accommodation, etc. Russian travelers couldn’t make international money transfers either and many are also now stuck and unable to access funds, which rolls downhill as problems to tourism businesses.”
The president urged local business operators to inform of similar problems to the association and it would mention the problems to discuss with relevant government agencies to solve problems for Russian and Ukrainian tourists in Koh Samui, Phuket, and Pattaya especially. The Thai Government and Tourism Authority of Thailand are reportedly looking for possible solutions for those affected during the current situation, both tourists and business owners.
In Koh Samui, the cumulative number of tourists since last year is recorded at 20,929 people. Of which, 2,398 are Russian nationals, ranking the third most visited nationality or 10 percent of all tourists, while Ukrainian tourists were ranked at the sixth with 750 people or 3.5 percent. Approximately 2,000 Russian tourists, according to the president, are currently in the Samui area and many are now having financial issues.
https://tpnnational.com/2022/03/01/russ ... -invasion/
By Nop Meechukhun
1 March, 2022
Russian and Ukrainian tourists in Surat Thani, Phuket, Pattaya, and other tourist destinations are starting to face financial transaction and travel problems following a ban of selected major Russian national banks yesterday, February 28th.
The Russia-Ukraine war has now affected the economic system and the tourism business in multiple Thai areas focused on tourism, including Samui, after Western nations and their allies, including the United States, the United Kingdom, the European Union, Australia, Canada, and Japan have expanded sanctions against Russia, resulting in the ban of many international financial transactions.
As of today, March 1st, both Ukrainian and Russian tourists as well as tour companies arranging tourists from both countries were now having difficulties in making and receiving payment via credit cards and international transfers. It was found that hotel room payments and other expenses made via credit card were not possible while Ukrainian tourists on Koh Samui wanted to stay longer and pay for extensions to witness and closely monitor the situation of their own country. Additionally, some citizens of both countries were now “stuck” because of flight bans, and some were limited on funds, made more difficult by new sanctions.
Ratchaporn Poolsawat, President of the Koh Samui Tourism Promotion Association, said the association had already acknowledged the problem because many hotels, restaurants, and other tourism businesses were affected.
He said: “Currently, Ukrainians in Koh Samui were now unable to fly back as the airspace was mostly closed but some also couldn’t make payments for services such as food, travel, accommodation, etc. Russian travelers couldn’t make international money transfers either and many are also now stuck and unable to access funds, which rolls downhill as problems to tourism businesses.”
The president urged local business operators to inform of similar problems to the association and it would mention the problems to discuss with relevant government agencies to solve problems for Russian and Ukrainian tourists in Koh Samui, Phuket, and Pattaya especially. The Thai Government and Tourism Authority of Thailand are reportedly looking for possible solutions for those affected during the current situation, both tourists and business owners.
In Koh Samui, the cumulative number of tourists since last year is recorded at 20,929 people. Of which, 2,398 are Russian nationals, ranking the third most visited nationality or 10 percent of all tourists, while Ukrainian tourists were ranked at the sixth with 750 people or 3.5 percent. Approximately 2,000 Russian tourists, according to the president, are currently in the Samui area and many are now having financial issues.
https://tpnnational.com/2022/03/01/russ ... -invasion/
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Gaybutton
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Re: How the Russia-Ukraine conflict affects Thailand
The conflict has created serious problems for Russians and Ukrainians currently in Thailand. I imagine it's a similar situation in many countries. This is why I keep urging people not to be complacent about traveling during these troubled times. Everything might go very well for you, but there is still that risk of being hit with some sort of unforeseen situation. First it was Covid and now you can add this to the list of woes.
How would you like to be on a holiday in a foreign country and suddenly you have no access to your money. Your debit card won't work. Your credit card won't work. Friends and family have no way to send money to you. Your embassy cannot - or will not - be of much help. Meanwhile you're running out of money to eat, pay hotel bills, and it won't do you much good to rush to the airport because there are few flights to get you back home, or no flights at all.
It is even more sad because this is happening to people through no fault of their own.
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Ukraine embassy asks for donations to assist their nationals stranded in Thailand
By Barry Kenyon
March 2, 2022
The Bangkok-based Ukrainian embassy has posted a Facebook request for donations in the light of the Russian invasion. The Bangkok Bank account numbers are 911-3-00456-9 and 911-0-20757-9 for online transactions.
The cash will be used initially to assist Ukrainian nationals stranded in Thailand because air space over their country has been closed to passenger traffic. Money transfers and use of credit cards have been badly dislocated by the hostilities which began after Russian troops attacked on several fronts on February 24.
Russian tourists still in Thailand are also experiencing serious cash flow problems as many countries have already excluded Russian banks from the SWIFT international system. This means that their electronic cards will not work and that online transfers fail. Russian planes are already banned from the airspace of many countries although Bangkok-Moscow flights are still available.
Ukrainian national Maryia Boudarenko, who was on holiday in Pattaya when the invasion began, told Pattaya Mail, “I could not return to Ukraine last week as I was positive in my pre-departure PCR test. Currently I am in a Pattaya hotel which is allowing me to stay without charge. The Ukrainian embassy is trying to arrange with the immigration bureau to allow our nationals to stay beyond their visa end date. The situation in my country is just too terrible to describe.”
https://www.pattayamail.com/latestnews/ ... and-391083
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How will the war in Ukraine affect Thailand?
Russia's decision to invade its neighbour to the west is likely to cause some travel pains for the kingdom as well as supply chain snags down the line if the conflict is prolonged
by Janine Phakdeetham
March 2, 2022
Russia's invasion of Ukraine on Feb 24 marks a major conflict that sent shockwaves through global stock and commodities markets. The action could affect tourism around the world, including in Thailand, which is still struggling to recover economically from the pandemic stress.
Will travel be considered a luxury during unsettling times?
Thailand's Department of Disease Control said Russia topped the list of international tourist arrivals in February following the resumption of the Test & Go scheme with 17,599 travellers. This was followed by 13,964 visitors from Germany and 11,278 from the UK.
Paul Pruangkarn, chief of staff at the Pacific Asia Travel Association, said increasingly aggressive international sanctions on the Kremlin have resulted in Russians scrambling to withdraw money from ATMs as the country's currency continues to crash.
Russians are unlikely to spend as much on travel as they save to prepare for difficult times, he said.
"People who are able to escape that kind of madness over there might want to travel, but we won't know the impact of the sanctions on these travellers yet," Mr Paul said.
"This certainly impacts more than just Russians. Long-haul travellers from Europe or people flying in that direction may be less likely to want to travel. There are now flight disruptions from the UK to Thailand. Flights are being diverted away from Ukraine's airspace. This affects travel sentiment."
Thanet Supornsahasrungsi, acting president of the Chon Buri Tourism Council, expects Russians will keep their existing travel plans as long as airlines are still operating. He said most Russian arrivals either have residences or businesses in Thailand, especially in Pattaya.
Thailand's Finance Ministry estimated at least 35.9 billion baht in tourism revenue from the Russian market would disappear, lowering Thailand's GDP by 0.2% if the projected 450,000 Russian tourists for 2022 are no longer able to visit the country.
According to Thailand's Tourism and Sports Ministry, the Russian market generated 103 billion baht for the tourism sector in 2019.
How will Thai exports perform?
Thailand has marginal exposure to the two sovereign nations, with the combined total value of exports to Russia and Ukraine standing at 0.41%. The Finance Ministry said Thailand's exports to Russia and Ukraine in 2021 amounted to 32.7 billion baht (0.36%) and 4.3 billion (0.05%), respectively.
Chaichan Chareonsuk, chairman of the Thai National Shippers' Council (TNSC), agreed and said the council expects Thai outbound shipments to increase by as much as 8% in the first quarter because of advance purchase orders.
However, the TNSC said the Russia-Ukraine crisis, if prolonged, could harm the global and Thai economies, especially in terms of higher production costs fuelled by rising energy and raw material prices such as steel, grains and semiconductors.
"Thai exports in the second quarter may be affected, with purchase orders estimated to drop by US$4-5 billion mainly for automobiles and auto parts, rubber products and electrical appliances," said Mr Chaichan.
Commerce Minister Jurin Laksanawisit said Thai rubber products may serve as substitutes for Russian or Ukrainian rubber in the global market.
Russia exports about $170 million worth of rubber products to the US per year.
To what degree does Thailand rely on Russian energy?
Thailand has not registered any impact on oil and liquefied natural gas imports because the country mostly buys crude oil from the Middle East, which accounts for 55% of total crude oil imports.
Permanent energy secretary Kulit Sombatsiri recently said Thailand has about 3.2 billion litres of crude oil in stock and another 1.46 billion litres of crude oil en route for delivery, along with 1.67 billion litres of refined oil.
The oil reserves are projected to be sufficient to meet demand for at least two months.
"The greatest concern is energy prices being affected by the invasion and limited global oil production. These factors will continue to drive up oil prices," said Mr Kulit.
Chairit Simaroj, managing director of local oil retailer Susco Plc, said small and medium-sized oil retailers have already begun to adjust their prices, though large firms such as PTT Plc and Bangchak Corporation are still keeping their prices fairly constant.
If gas delivery is disrupted as the Russia-Ukraine conflict escalates further, existing supply chain issues and pandemic-induced shortages will start to appear, he said.
"As global oil prices continue to rise, this affects the cost of energy and logistics in the global supply chain. Thailand is going to hurt too, as indicated by the rising prices of goods and services," said Sanan Angubolkul, chairman of the Thai Chamber of Commerce.
"The tension will also affect exchange rates, travel and tourism."
What will be the effects on the stock & crypto markets?
Krungthai Bank (KTB) Global Markets said the majority of investors are now in risk-off territory because of the fluidity of the crisis coupled with growing sanctions against Russia that aim to cripple the Kremlin's financial and energy sectors.
The major US indices, the Stock Exchange of Thailand (SET) as well as cryptocurrencies saw a sudden decline on the day Russia invaded Ukraine, then slowly bounced back as some believe the war will have a limited effect on the US and global economies.
When Russia invaded Ukraine on Feb 24, the SET index dropped 1.99% to 1,662.72 points, though it recovered 1.03% the next day. At noon on March 1, the SET index stood at 1,698.22 points.
As cryptocurrencies become more mainstream, they are gradually following capital market trends. Bitcoin took a nosedive to a one-month low of $34,459.22 on Feb 24, undermining the argument that digital assets could serve as a safe haven in times of trouble.
Bitcoin recovered to $43,235.21 at noon on March 1 following the news that Binance would only block the accounts of some Russian users -- those hit with international sanctions -- but stopped short of freezing all Russian users' accounts.
Poon Panichpibool, a markets strategist at KTB, categorised digital assets as speculative and called the rebound an interesting case.
"I believe recent surges in crypto prices came from improved overall market sentiment and the possibility that blockchain technology could circumvent international sanctions if Russian banks are cut off from the SWIFT system," said Mr Poon.
"The latter reason is supported by Binance's decision not to unilaterally freeze users' accounts in Russia, despite a request from Ukraine."
The traditional safe haven of gold rose to its highest level since early 2021 last week, while the baht hit its weakest level since Feb 9 and is expected to remain volatile.
He said the Omicron situation in Thailand already put pressure on the baht's value and the crisis in Ukraine has the currency hovering between 32.60 to 32.80 baht per US dollar.
Foreign fund inflows to the Thai stock market still play a crucial role in supporting the baht's value, said Mr Poon.
In addition, the Bank of Thailand expressed concerns over inflation because of the Russia-Ukraine conflict, but said the Thai economy would continue to recover this year.
The central bank set the headline inflation target in a range of 1% to 3% for this year.
How has Thailand and the region responded?
Thailand's Foreign Affairs Ministry said it has been following the developments in Ukraine "with deep concern" and urged a peaceful settlement through dialogue.
Singapore's Foreign Minister Vivian Balakrishna on Monday announced in parliament the city-state plans to block certain Russian banks and financial transactions connected to Russia. He said Singapore would also impose export controls on items used directly as weapons in Ukraine to harm or subjugate Ukrainians.
In the latest Asean Foreign Ministers' statement, the 10-member regional bloc called on all relevant parties to exercise maximum restraint and make every effort to pursue dialogue through all channels, including diplomatic means, to contain the situation.
https://www.bangkokpost.com/business/22 ... -thailand-
How would you like to be on a holiday in a foreign country and suddenly you have no access to your money. Your debit card won't work. Your credit card won't work. Friends and family have no way to send money to you. Your embassy cannot - or will not - be of much help. Meanwhile you're running out of money to eat, pay hotel bills, and it won't do you much good to rush to the airport because there are few flights to get you back home, or no flights at all.
It is even more sad because this is happening to people through no fault of their own.
_____________________________________________________________________
Ukraine embassy asks for donations to assist their nationals stranded in Thailand
By Barry Kenyon
March 2, 2022
The Bangkok-based Ukrainian embassy has posted a Facebook request for donations in the light of the Russian invasion. The Bangkok Bank account numbers are 911-3-00456-9 and 911-0-20757-9 for online transactions.
The cash will be used initially to assist Ukrainian nationals stranded in Thailand because air space over their country has been closed to passenger traffic. Money transfers and use of credit cards have been badly dislocated by the hostilities which began after Russian troops attacked on several fronts on February 24.
Russian tourists still in Thailand are also experiencing serious cash flow problems as many countries have already excluded Russian banks from the SWIFT international system. This means that their electronic cards will not work and that online transfers fail. Russian planes are already banned from the airspace of many countries although Bangkok-Moscow flights are still available.
Ukrainian national Maryia Boudarenko, who was on holiday in Pattaya when the invasion began, told Pattaya Mail, “I could not return to Ukraine last week as I was positive in my pre-departure PCR test. Currently I am in a Pattaya hotel which is allowing me to stay without charge. The Ukrainian embassy is trying to arrange with the immigration bureau to allow our nationals to stay beyond their visa end date. The situation in my country is just too terrible to describe.”
https://www.pattayamail.com/latestnews/ ... and-391083
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How will the war in Ukraine affect Thailand?
Russia's decision to invade its neighbour to the west is likely to cause some travel pains for the kingdom as well as supply chain snags down the line if the conflict is prolonged
by Janine Phakdeetham
March 2, 2022
Russia's invasion of Ukraine on Feb 24 marks a major conflict that sent shockwaves through global stock and commodities markets. The action could affect tourism around the world, including in Thailand, which is still struggling to recover economically from the pandemic stress.
Will travel be considered a luxury during unsettling times?
Thailand's Department of Disease Control said Russia topped the list of international tourist arrivals in February following the resumption of the Test & Go scheme with 17,599 travellers. This was followed by 13,964 visitors from Germany and 11,278 from the UK.
Paul Pruangkarn, chief of staff at the Pacific Asia Travel Association, said increasingly aggressive international sanctions on the Kremlin have resulted in Russians scrambling to withdraw money from ATMs as the country's currency continues to crash.
Russians are unlikely to spend as much on travel as they save to prepare for difficult times, he said.
"People who are able to escape that kind of madness over there might want to travel, but we won't know the impact of the sanctions on these travellers yet," Mr Paul said.
"This certainly impacts more than just Russians. Long-haul travellers from Europe or people flying in that direction may be less likely to want to travel. There are now flight disruptions from the UK to Thailand. Flights are being diverted away from Ukraine's airspace. This affects travel sentiment."
Thanet Supornsahasrungsi, acting president of the Chon Buri Tourism Council, expects Russians will keep their existing travel plans as long as airlines are still operating. He said most Russian arrivals either have residences or businesses in Thailand, especially in Pattaya.
Thailand's Finance Ministry estimated at least 35.9 billion baht in tourism revenue from the Russian market would disappear, lowering Thailand's GDP by 0.2% if the projected 450,000 Russian tourists for 2022 are no longer able to visit the country.
According to Thailand's Tourism and Sports Ministry, the Russian market generated 103 billion baht for the tourism sector in 2019.
How will Thai exports perform?
Thailand has marginal exposure to the two sovereign nations, with the combined total value of exports to Russia and Ukraine standing at 0.41%. The Finance Ministry said Thailand's exports to Russia and Ukraine in 2021 amounted to 32.7 billion baht (0.36%) and 4.3 billion (0.05%), respectively.
Chaichan Chareonsuk, chairman of the Thai National Shippers' Council (TNSC), agreed and said the council expects Thai outbound shipments to increase by as much as 8% in the first quarter because of advance purchase orders.
However, the TNSC said the Russia-Ukraine crisis, if prolonged, could harm the global and Thai economies, especially in terms of higher production costs fuelled by rising energy and raw material prices such as steel, grains and semiconductors.
"Thai exports in the second quarter may be affected, with purchase orders estimated to drop by US$4-5 billion mainly for automobiles and auto parts, rubber products and electrical appliances," said Mr Chaichan.
Commerce Minister Jurin Laksanawisit said Thai rubber products may serve as substitutes for Russian or Ukrainian rubber in the global market.
Russia exports about $170 million worth of rubber products to the US per year.
To what degree does Thailand rely on Russian energy?
Thailand has not registered any impact on oil and liquefied natural gas imports because the country mostly buys crude oil from the Middle East, which accounts for 55% of total crude oil imports.
Permanent energy secretary Kulit Sombatsiri recently said Thailand has about 3.2 billion litres of crude oil in stock and another 1.46 billion litres of crude oil en route for delivery, along with 1.67 billion litres of refined oil.
The oil reserves are projected to be sufficient to meet demand for at least two months.
"The greatest concern is energy prices being affected by the invasion and limited global oil production. These factors will continue to drive up oil prices," said Mr Kulit.
Chairit Simaroj, managing director of local oil retailer Susco Plc, said small and medium-sized oil retailers have already begun to adjust their prices, though large firms such as PTT Plc and Bangchak Corporation are still keeping their prices fairly constant.
If gas delivery is disrupted as the Russia-Ukraine conflict escalates further, existing supply chain issues and pandemic-induced shortages will start to appear, he said.
"As global oil prices continue to rise, this affects the cost of energy and logistics in the global supply chain. Thailand is going to hurt too, as indicated by the rising prices of goods and services," said Sanan Angubolkul, chairman of the Thai Chamber of Commerce.
"The tension will also affect exchange rates, travel and tourism."
What will be the effects on the stock & crypto markets?
Krungthai Bank (KTB) Global Markets said the majority of investors are now in risk-off territory because of the fluidity of the crisis coupled with growing sanctions against Russia that aim to cripple the Kremlin's financial and energy sectors.
The major US indices, the Stock Exchange of Thailand (SET) as well as cryptocurrencies saw a sudden decline on the day Russia invaded Ukraine, then slowly bounced back as some believe the war will have a limited effect on the US and global economies.
When Russia invaded Ukraine on Feb 24, the SET index dropped 1.99% to 1,662.72 points, though it recovered 1.03% the next day. At noon on March 1, the SET index stood at 1,698.22 points.
As cryptocurrencies become more mainstream, they are gradually following capital market trends. Bitcoin took a nosedive to a one-month low of $34,459.22 on Feb 24, undermining the argument that digital assets could serve as a safe haven in times of trouble.
Bitcoin recovered to $43,235.21 at noon on March 1 following the news that Binance would only block the accounts of some Russian users -- those hit with international sanctions -- but stopped short of freezing all Russian users' accounts.
Poon Panichpibool, a markets strategist at KTB, categorised digital assets as speculative and called the rebound an interesting case.
"I believe recent surges in crypto prices came from improved overall market sentiment and the possibility that blockchain technology could circumvent international sanctions if Russian banks are cut off from the SWIFT system," said Mr Poon.
"The latter reason is supported by Binance's decision not to unilaterally freeze users' accounts in Russia, despite a request from Ukraine."
The traditional safe haven of gold rose to its highest level since early 2021 last week, while the baht hit its weakest level since Feb 9 and is expected to remain volatile.
He said the Omicron situation in Thailand already put pressure on the baht's value and the crisis in Ukraine has the currency hovering between 32.60 to 32.80 baht per US dollar.
Foreign fund inflows to the Thai stock market still play a crucial role in supporting the baht's value, said Mr Poon.
In addition, the Bank of Thailand expressed concerns over inflation because of the Russia-Ukraine conflict, but said the Thai economy would continue to recover this year.
The central bank set the headline inflation target in a range of 1% to 3% for this year.
How has Thailand and the region responded?
Thailand's Foreign Affairs Ministry said it has been following the developments in Ukraine "with deep concern" and urged a peaceful settlement through dialogue.
Singapore's Foreign Minister Vivian Balakrishna on Monday announced in parliament the city-state plans to block certain Russian banks and financial transactions connected to Russia. He said Singapore would also impose export controls on items used directly as weapons in Ukraine to harm or subjugate Ukrainians.
In the latest Asean Foreign Ministers' statement, the 10-member regional bloc called on all relevant parties to exercise maximum restraint and make every effort to pursue dialogue through all channels, including diplomatic means, to contain the situation.
https://www.bangkokpost.com/business/22 ... -thailand-
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Gaybutton
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Re: How the Russia-Ukraine conflict affects Thailand
20 billion baht is equivalent to about 612 million USD.
As for gasoline and other fuels, I have seen reports that prices are expected to rise as a result, but nothing specific yet about by how much, how soon, and whether price caps will be imposed.
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Russia-Ukraine crisis: Thailand plans to borrow 20 billion baht more to subsidize diesel price
By Pattaya Mail
March 5, 2022
The Oil Fuel Fund Office (OFFO) plans to borrow 20 billion baht to subsidize diesel and set the ceiling price at no more than 30 baht a liter.
Kulit Sombatsiri, Permanent Secretary for the Ministry of Energy, said the decision came as the conflict between Russia and Ukraine intensifies. The conflict triggered the EU and other world powers to impose severe sanctions against Russia. The move poses significant repercussions on the global economy and, inevitably, oil prices worldwide.
Kulit said that the ministry already received several lending offers from interested financial institutes and expects to finalize the deal next month.
Another loan request of 10 billion baht will be proposed to the Cabinet this month to further increase the liquidity of the oil fund, according to a source from the Ministry of Energy. The rise in crude oil prices stemming from the Black Sea conflict largely contributes to the decision.
Suphant Mongkolsuthree, Chairman of the Federation of the Thai Industries, meanwhile, expressed his opinion on the Ukrainian crisis. He said rising crude oil prices will also push the inflation rate higher and will eventually affect consumer confidence and investor confidence. Suphant added that the conflict will ultimately slow down the world economy to a sluggish level.
https://www.pattayamail.com/thailandnew ... ice-391329
As for gasoline and other fuels, I have seen reports that prices are expected to rise as a result, but nothing specific yet about by how much, how soon, and whether price caps will be imposed.
_______________________________________________________________________________
Russia-Ukraine crisis: Thailand plans to borrow 20 billion baht more to subsidize diesel price
By Pattaya Mail
March 5, 2022
The Oil Fuel Fund Office (OFFO) plans to borrow 20 billion baht to subsidize diesel and set the ceiling price at no more than 30 baht a liter.
Kulit Sombatsiri, Permanent Secretary for the Ministry of Energy, said the decision came as the conflict between Russia and Ukraine intensifies. The conflict triggered the EU and other world powers to impose severe sanctions against Russia. The move poses significant repercussions on the global economy and, inevitably, oil prices worldwide.
Kulit said that the ministry already received several lending offers from interested financial institutes and expects to finalize the deal next month.
Another loan request of 10 billion baht will be proposed to the Cabinet this month to further increase the liquidity of the oil fund, according to a source from the Ministry of Energy. The rise in crude oil prices stemming from the Black Sea conflict largely contributes to the decision.
Suphant Mongkolsuthree, Chairman of the Federation of the Thai Industries, meanwhile, expressed his opinion on the Ukrainian crisis. He said rising crude oil prices will also push the inflation rate higher and will eventually affect consumer confidence and investor confidence. Suphant added that the conflict will ultimately slow down the world economy to a sluggish level.
https://www.pattayamail.com/thailandnew ... ice-391329
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Gaybutton
- Posts: 21550
- Joined: Sat Jul 31, 2010 11:21 am
- Location: Thailand
- Has thanked: 2 times
- Been thanked: 1314 times
Re: How the Russia-Ukraine conflict affects Thailand
Russian invasion creates a multitude of problems for tourism
by Webfact
March 7, 2022
NOTE: I am posting only the portion of this article that pertains specifically to Thailand.
For the full article, see: https://aseannow.com/topic/1252503-russ ... r-tourism/
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Thailand’s hospitality industry is suffering
Here in Thailand, it is unclear how many Russians and Ukrainians canceled holidays or how many are still in the country.
As we are now starting to find out, many Ukrainian and Russian tourists in Thailand have also been facing problems with financial transactions and travel following measures launched by various countries banning and blocking services by Russian banks and closing airspace to Russian aircraft.
Having arrived in Thailand, in the thousands, during February, they have now found themselves stranded by both fallout from the international sanctions as well as a lack of flights back to Russia or Ukraine.
For the Russians the government needs to allow Russian planes to come here to take these tourists back rather than just leave them to create more problems.
Many Russian and Ukrainian tourists have not been able to use their credit cards.
Meanwhile it is also reported that some Ukrainians have wanted to stay in Thailand until the situation in their home country improves, but have not been able to pay for accommodation or food with their credit cards, the tourism official says.
Others who have wanted to travel back cannot due to canceled flights.
From a humanitarian point of view, the Thai government needs to help them immediately with free accommodation and food.
Prospects look bleak as March continues with both the sanctions and the invasion of Ukraine ongoing.
However, according to the Tourism Authority of Thailand, we can now expect the resorts to eventually fill up again with visitors from India and Saudi Arabia.
by Webfact
March 7, 2022
NOTE: I am posting only the portion of this article that pertains specifically to Thailand.
For the full article, see: https://aseannow.com/topic/1252503-russ ... r-tourism/
______________________________________
Thailand’s hospitality industry is suffering
Here in Thailand, it is unclear how many Russians and Ukrainians canceled holidays or how many are still in the country.
As we are now starting to find out, many Ukrainian and Russian tourists in Thailand have also been facing problems with financial transactions and travel following measures launched by various countries banning and blocking services by Russian banks and closing airspace to Russian aircraft.
Having arrived in Thailand, in the thousands, during February, they have now found themselves stranded by both fallout from the international sanctions as well as a lack of flights back to Russia or Ukraine.
For the Russians the government needs to allow Russian planes to come here to take these tourists back rather than just leave them to create more problems.
Many Russian and Ukrainian tourists have not been able to use their credit cards.
Meanwhile it is also reported that some Ukrainians have wanted to stay in Thailand until the situation in their home country improves, but have not been able to pay for accommodation or food with their credit cards, the tourism official says.
Others who have wanted to travel back cannot due to canceled flights.
From a humanitarian point of view, the Thai government needs to help them immediately with free accommodation and food.
Prospects look bleak as March continues with both the sanctions and the invasion of Ukraine ongoing.
However, according to the Tourism Authority of Thailand, we can now expect the resorts to eventually fill up again with visitors from India and Saudi Arabia.
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Jun
Re: How the Russia-Ukraine conflict affects Thailand
The main problem for Thai tourism is Thai government policy.
The number one thing stopping people entering Thailand right now is the entry requirements, ie testing, Thai pass and specifically the need to buy insurance to cover unnecessary treatment/incarceration after failing a covid test.
A sensible approach is to fix things that are within your control, rather than worry about what's not within your control.