Taking advantage of a Russian offer to sell its crude oil cheap and bear the cost of insurance and transportation, India may import as much as 2 million tonnes (mt), or roughly 15 million barrels of crude, from the sanctioned nation in 2022, Business Standard has learnt. This comes after reports that Indian Oil Corporation (IOC) bought 3 million barrels of Russian Urals from trader Vitol for May delivery. This will be on cost, insurance and freight (CIF) model, where the seller incurs the costs and pays the freight, including insurance charges.
But it is less adventurous. It seems, at last, that in its eighth decade, Pakistan has settled into being a parliamentary democracy just like Bangladesh has and like we have always been, observes Aakar Patel.
'The lockdown was for both: To flatten the curve or more correctly, delay the rapid spread of COVID outbreak, and to create healthcare infrastructure.'
Gen Soleimani was killed in a US airstrike on Friday. Trump alleged that Soleimani has been perpetrating acts of terror to destabilise the Middle East for the last 20 yrs.
People familiar with the development said on Friday that the Chinese envoy held wide-ranging talks with the external affairs ministry's point person for Afghanistan J P Singh.
'These young men have become religious fundamentalists and gone to lead the life of Salafis somewhere.'
Queen Elizabeth II, who died aged 96 at her Balmoral Castle summer residence in Scotland on September 8, will be laid to rest at a state funeral at Westminster Abbey on September 19.
While the US-Iran conflict leading to a spike in global oil prices and trade war between the US and the EU topped the chart with 25 per cent, other major risks to the global economy include coronavirus, debt burdens causing a recess across emerging markets and Hong Kong protests causing an exodus from Asia's biggest financial centre.
Like China, India too should connect the dots and move ahead with a long-term perspective in Afghanistan, advises Ambassador M K Bhadrakumar.
'In 1999, Gen Musharraf sent me along with Gen Iftikhar, who was the then chief of Air Defense Command. We were fighting India at Kargil, and we were in dire need of anti-aircraft missiles. Musharraf said we could purchase the missiles from North Korea. We went to North Korea and purchased 200 missiles from them.'
State Bank of India, the nation's largest lender, has stopped processing transactions of Russian entities that have been sanctioned by the West over Moscow's invasion of Ukraine, sources said. To effect this, SBI has issued a circular as it fears that any transaction with entities or sectors under sanction will invite sanction on it as well, sources said. No transactions involving entities, banks, ports or vessels appearing on a US, European Union or United Nations sanctions list would be processed irrespective of the currency of the transaction, they said. Payments due to such entities have to be processed by other mechanism rather than through the banking channel, sources added.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
China will host the third meeting of the foreign ministers of Afghanistan's neighbours in Tunxi, central China's Anhui province, on March 30-31, the spokesperson said.
Kim Jong-un declared he would never surrender North Korea's nuclear weapons weapons even if his country faced 100 years of sanctions. Dr Rajaram Panda explains Pyongyang's new nuclear doctrine that makes the world a much more dangerous place.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
A look back at many memorable moments in his life as Prince Charles.
As the economic crisis in Sri Lanka - the world's largest exporter of orthodox tea - continues to rage across the island nation, tea producers in India look to cash in on the opportunity to seize the market. The country's largest tea growing company, McLeod Russel India, expects orders to come in from July. "A huge opportunity is coming up for everyone in India. "McLeod Russel is well placed because we have the capacity for orthodox tea," said Azam Monem, director, McLeod Russel. About 10 per cent of McLeod's production is orthodox tea.
Protesters attacked what they deemed to be US' disproportionate response -- the killing of 24 militiamen on Sunday in retaliation for the death of an American contractor on Friday.
In a war situation, the policy of 'what is not mine is enemy' tends to hold sway. It is high time professional militaries took air defence seriously, notes Group Captain Murli Menon (retd).somewhat, it is high time professional militaries took Air Defence seriously, suggests Group Captain Murli Menon (retd).
Learning perhaps from the Kargil debacle, Musharraf tried hard to evolve as a statesman in his dealings with India, recalls Rana Banerji, who headed the Pakistan desk at RA&W.
The Taliban is showing its strong discontent as the high hopes given to it by the Pakistani military have been dashed, observes Ambassador M K Bhadrakumar.
India needs to have a re-look of whole gamut of its relations with major powers and also prepare for a more turbulent neighbourhood. But such is the tyranny of Indian status quo mindset that any talk of re-look at nuclear doctrine or foreign relations is treated as blasphemy, says Colonel (retd) Anil Athale.
'The threat of ceding space to China in Afghanistan appears to be one factor propelling our government to get a bit more active now.'
The United States will continue to focus on the Asia-Pacific region and shape a future of greater security, President Barack Obama said on Wednesday, even as he vowed to veto any Congressional bill imposing new sanctions on Iran to give "diplomacy a chance to succeed".
External affairs minister S Jaishankar on Tuesday discussed issues relating to Afghanistan and the Indo-Pacific during his bilateral meetings with global counterparts on the sidelines of the annual high-level UN General Assembly session.
The ineptness of successive American presidents, from Bush the Younger to Joe Biden the Old, combined with the cluelessness that Americans demonstrate in foreign lands, contrasts with the Chinese leadership's seemingly singular focus on the accumulation of wealth and power, asserts T N Ninan.
Cyberspace is a battleground as important as the traditional domains of air, land, sea and space, says US Defence Secretary Ash Carter, who visits India next week.
'Why was Top Gun: Maverick made? 'And the only reason I can think of is that the new film was made to emphasise and re-establish Tom Cruise's superstar status,' notes Aseem Chhabra who watched the Top Gun sequel at its premiere in Cannes.
Cristiano Ronaldo continued his record-breaking form for Portugal as he grabbed two more goals in his country's 6-0 thrashing of Luxembourg in a Euro 2024 qualifier on Sunday.
You may be popular initially because of politics and ideology but if the economy slows down, you will be losing your popularity: Nouriel Roubini.
There is no better way to address the security threat emanating from ISIS and other terrorist groups in Afghanistan than by co-opting the Taliban, asserts Ambassador M K Bhadrakumar.
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. "The finance ministry will take a call on how to peg the two currencies," a senior government official told Business Standard. In the past, the two nations have had rupee-rouble trade, and when such an arrangement is implemented again, it will bypass the sanctions imposed on Russia by the West.
Internal strife and tribalism is endemic to Afghanistan, notes Colonel Anil A Athale (retd).
Any Indian government at this juncture would have voted and spoken exactly this way. It isn't just about the vast Indian dependence on Russian-origin military equipment. It is also about trust, asserts Shekhar Gupta.
India on Thursday resumed its diplomatic presence in Kabul by deploying a team in its embassy in the Afghan capital, over 10 months after it pulled out its officials from the mission following the Taliban's capture of power.
The world's attention is on the new Taliban and the imminent announcement of an inclusive government in Kabul, observes Ambassador M K Bhadrakumar
I am staying here for the last five years. The situation is really bad there (in Afghanistan). The people staying there are far from the normal situation. People are trying to come out and move to either Iran, Tajikistan or India just to save themselves.
You aren't dealing with a normal, civilised, law. The NDPS Act, in its preconditions for bail, and insistence on evidence of innocence rather than guilt, is worse than UAPA. Imagine yourself or your child at the other end of this, observes Shekhar Gupta.
Russia and China are tight-fisted and Iran is broke and none of them has the political will or capacity to bankroll the Afghan economy, which only the US can, points out Ambassador M K Bhadrakumar.
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