India’s ongoing trade with Russia, especially imports of crude oil, has been a sore spot with US for months. US Consulate General wrote to Mumbai Port Authority a fortnight ago.
The US, UK, Japan and Canada plan to announce the ban during the G7 summit that started Sunday in Germany. Flows have already been restricted by previous sanctions.
Dictators have higher pain thresholds than democratic leaders, giving all the more reason to keep up pressure and making it harder for Russia to reshape and regroup.
Losing access to Russian diamonds over long term would devastate the industry, jeopardising thousands of jobs in India and hitting major trading centers across the world.
All things considered, might it have been better & cheaper, shed less blood, and avoided a huge refugee problem if Russia had been allowed a buffer zone in Eastern Europe?
Two quotes by historian Toynbee are relevant to current events — that civilisations die by suicide, and that West committed ‘unpardonable aggression’ against non-European nations.
Even though exports to India make up just about 10% of Russian direct sales, Indian diamantaires fear they could end up on the frontline of the war in Ukraine.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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