India's trade with Tehran has cratered since 2018 after US sanctions were reimposed on the West Asian country, and China has stepped into the resulting vacuum.
Ukraine has reported a spate of Russian attacks with Iranian-made Shahed-136 drones in recent weeks. Iran denies supplying the drones to Russia, while the Kremlin has not commented.
Mumbai-based Tibalaji Petrochem Pvt. Ltd. sanctioned for importing 'millions of dollars' worth' of petrochemical products from Iran and exporting them to China.
China’s commitments seemingly have various ‘strategic exits’ to safeguard both its investments and geopolitical state of play regionally and internationally.
The move would leave Iran isolated from the global financial system. Earlier rounds of US sanctions have crushed its economy by curbing oil sales and most other trade.
The collusion between the new class of bureaucrats, politicians, businessmen and trade union bosses perpetuates itself partly because of the short-run benefits and partly because they see no way out of the system, wrote author MH Mody in 1980.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
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