The US has already imposed sanctions on Turkey for the purchase of a batch of S-400 missile defence systems.
United States Secretary of State Antony Blinken has warned China that its 'material support' for Russia's war against Ukraine would attract sanctions and condemned the 'unacceptable violation' of American sovereignty by a Chinese spy balloon as he met Beijing's top diplomat Wang Yi.
After the Russian aviation sector was hit by crippling Western sanctions for war against Ukraine, China refused to supply Russia with aircraft parts.
'The touchstone is reciprocity which will be applied to friends and foes alike.' 'It will be a bitter pill to swallow.'
India has decided to authorise the country's biggest lender SBI to promote rupee trade with Russia and soon Moscow will name its bank to operationalise the mechanism, exporters' body FIEO said on Wednesday. The RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Currently, a large part of bilateral trade between India and Russia is getting settled in rupee due to sanctions imposed by the US and Europe following Moscow's attack on Ukraine.
The high-level talks took place in the backdrop of indications that India could buy greater volumes of discounted Russian oil and both sides were keen on having a rouble-rupee arrangement for bilateral trade.
The US continues to have its concerns over India purchasing the multi-billion missile defense system from Russia.
On Sunday the Ukrainian Tennis Federation urged the sport's governing body the International Tennis Federation (ITF) to immediately expel Russia and Belarus from the organisation and ban Russia from team and individual tournaments. Also, athletes from Ukraine and other nations have called on the International Olympic Committee (IOC) to suspend Russia and Belarus and ban their athletes from events immediately.
At the end of the day, for many worldwide, the ongoing mutual attacks between Israel and Iran would seem a contest devoid of any moral high ground and only a bout between two ordinary adversaries, one that nevertheless risks spinning out of control into a larger conflagration, notes Shyam G Menon.
Countries like Russia cannot be "locked up" behind the iron curtain, the Russian presidential spokesman asserted on Thursday, as the US-led West threatened to impose more biting sanctions against Moscow after President Vladimir Putin ordered a military offensive against Ukraine.
However, copious oil supplies amid growing global output and slowing Chinese oil consumption will put India in a better bargaining position with Gulf suppliers.
Suspension is the only method provided for in the UN resolution that established the Human Rights Council back in 2005.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
'It is typical of China's strategic deception of making virtue out of necessity,' observes Rup Narayan Das.
The pressure on India to take a hostile attitude towards Russia and China was not subtle, but it was guarded, observes Ambassador T P Sreenivasan after Monday's 2+2 ministerial meeting in Washington, DC.
Investors and companies should brace for higher commodity prices over the next few weeks in the backdrop of Russian troops attacking Ukraine on Thursday. Meanwhile, US President Joe Biden threatened new sanctions against Russia for an act of aggression against Ukraine. All this, analysts believe, can push prices of key commodities such as crude oil, ammonia, urea, potash, and phosphates higher.
Russia on Wednesday said it was working "intensely" to create a "humanitarian corridor" for safe passage to Russian territory for Indians stuck in Kharkiv, Sumy and other conflict zones in Ukraine.
India for the first time on Wednesday voted against Russia during a "procedural vote" at the United Nations Security Council on Ukraine, as the 15-member powerful UN body invited Ukrainian President Volodymyr Zelenskyy to address a meeting through a video tele-conference.
Overcoming its initial concerns, national reinsurer GIC Re has contributed to the formation of an insurance pool to cover most imports from Russia. While it will be called the fertiliser pool with a corpus of Rs 500 crore, it can be used to cover the risks of oil and gas imports too. This was decided by a clutch of Indian insurance companies, led by the state-owned ones. GIC Re's share is about 40 per cent in the pool. Last month, GIC Re had shot off a letter to all non-life insurance companies that underwrite marine risks not to ask it for reinsurance of cargoes that originate from Russia.
Despite discounts on Russian crude oil - which fell to the lowest since the Ukraine war began - and the rising sanctions, import volumes from the country will remain stable for now or at least till July, said refinery officials. "There is an appetite for Russian crude, and shipments are not expected to taper off beyond this point unless something major happens. "Talks are on, and buying will continue," an official at a major refinery said.
The Canadian government is advising its citizens to refrain from visiting Russia and to leave the country as soon as possible amid the impacts of the Russian military operations in Ukraine.
The gesture comes after Russia's invasion of Ukraine, which began on Feb. 24
Zelenskyy named Warsaw, Bratislava, Istanbul, Budapest or Baku as alternative venues.
Rawat said India was looking forward to procuring Kamov helicopters and other weapon systems and technology from Russia.
Sources said the equipment is being brought to India through both sea and air routes.
'We demand that Russia be held accountable for distorting the concept of genocide to justify aggression. We ask the court to immediately order Russia to cease hostilities and schedule a hearing next week'
Notwithstanding how the current impasse is solved, at some point in the future, Russia will realise that just as centuries ago it developed the paradigm of securing its heartland's safety through annexing vast buffer zones between itself and the enemy, a more modern security is possible only through friendly relations and sustainable peace, observes Shyam G Menon.
Russia on Monday accused the US of "actively" exploiting the "contradictions" between India and China to its advantage and asserted Moscow and New Delhi accumulated mutual trust and confidence based on decades-old ties that would help the two sides to deal with the current geopolitical turbulence.
Speculation is rife that Xi is likely to make an attempt to initiate peace talks between Russia and Ukraine to end the ongoing conflict in Ukraine.
FIDE said it will do its utmost to find another organiser for the Olympiad and will provide more information in due time.
President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said even for BRICS, there are internal differences about bringing out an alternative to the US dollar.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
Britain said it had imposed asset freezes on Chelsea soccer club owner Roman Abramovich
Savings for Indian refiners from purchasing Russian oil have decreased to a third of what they were in the years following Russia's invasion of Ukraine, which triggered global crises, sanctions, and discounted Russian oil seeking buyers. Despite this, savings from importing cheap Russian oil were significant enough to help Indian refiners tide over frozen petrol and diesel pump prices.
Russian race walker Lashmanova banned, to be stripped of 2012 London Olympics gold
If Beijing succeeds in this multipronged effort to challenge the current dominant power, it will have not just economic but political and security consequences. There is no let-up in the South China Sea nor any de-escalation moves on the India-China border. This portends to ominous signalling from Beijing, observes China expert Srikanth Kondapalli.
'The Indian activities at the UN are fully reflecting the merit of our special and privileged strategic partnership'
Russia should not be allowed to host soccer events such as the Champions League final
I don't read anything into it until I see what their actions are, Biden told reporters.
A few years ago, when top officials of Indian state-run refiners went to Dubai to negotiate a crude oil supply contract, a senior official from state-owned Saudi Aramco told them, "We can negotiate on anything, but I am the last man standing for you. "Nobody can offer the range of crudes we do with certainty," an official who was part of the negotiating team recalls. Perhaps that explains why Saudi Arabia is less concerned about losing its place as India's premier oil supplier to an upstart like Russia, which emerged from nowhere to become India's biggest crude oil supplier in September and October.
