The VIF in collaboration with the Heritage Foundation, USA, organized a virtual roundtable discussion on the ‘Geopolitical and Economic Implications of the Ukraine Crisis for India’ and the US on 7 July 2022. The opening remarks were delivered by Dr Arvind Gupta, Director, VIF and Mr Dakota Woods, Senior Fellow, Centre for National Defense, The Heritage Foundation. The discussion saw in attendance eminent participants on both sides like Amb. Ashok Kantha, Lt. Gen. Ravi. K. Sawhney, Amb. Arun K. Singh, Amb. Anil Wadhwa, Amb. P.S. Raghavan, Mr Max Primorac, Dr Kiron Skinner and Mr Jeff Smith. The engaging discussion that followed touched upon a multitude of critical aspects that have been impacted as a result of the Ukraine war. While examining the extent of the current global economic upheaval, the discussants deliberated upon the effectiveness of using sanctions as a tool to shape state behaviour. There was a focus on assessing the collateral damage and negative externalities of sanction regimes and their impact on developing states. The discussants also examined the ramifications of the ongoing war on the regional security environment, the emerging Sino-Russia Axis, navigating differences between the US and India and the way forward.