Page 5 - Russia

Centre likely to discourage foreign trade settlement in Chinese yuan

India has asked banks and traders to avoid using Chinese yuan to pay for Russian imports, three govt officials involved in policy making and two banking sources said, because of political differences

Russia's economy holds up amid sanctions, but growing challenges test Putin

Western sanctions have hit Russian banks, wealthy individuals and technology imports. But after a year of far-reaching restrictions aimed at degrading Moscow's war chest, economic life for ordinary Russians doesn't look all that different than it did before the invasion of Ukraine. There's no mass unemployment, no plunging currency, no lines in front of failing banks. The assortment at the supermarket is little changed, with international brands still available or local substitutes taking their place. Crowds might have thinned at some Moscow malls, but not drastically. Some foreign companies like McDonald's and Starbucks have been taken over by local owners who slapped different names on essentially the same menu. Economically, nothing has changed, said Vladimir Zharov, 53, who works in television. "I work as I used to work, I go shopping as I used to. Well, maybe the prices have risen a little bit, but not in such a way that it is very noticeable. Russia's economy has weathered th

US turns to new aggressive ways to punish Russian oligarchs for Ukraine war

The US has begun an aggressive new push to inflict pain on Russia's economy and specifically its oligarchs with the intent of thwarting the Kremlin's invasion of Ukraine. From the Treasury Department to the Justice Department, U.S. officials will focus on efforts to legally liquidate the property of Russian oligarchs, expand financial penalties on those who facilitate the evasion of sanctions, and close loopholes in the law that allow oligarchs to use shell companies to move through the U.S. financial system. Andrew Adams, who heads the KleptoCapture task force, designed to enforce the economic restrictions within the U.S. imposed on Russia and its billionaires, told The Associated Press that the group is prioritizing its efforts to identify those who help Russians evade sanctions and violate export controls. These illicit procurement networks will continue to take up an ever-increasing amount of our bandwidth, said Adams, who also serves as acting deputy assistant attorney ...

India to ensure no breach on Russia oil purchase sanctions

Western countries led by the US had put a price cap of $60 per barrel on exports of Russian oil in a bid to crimp revenues to the Kremlin and keep some oil on the market

Pakistan plans to procure Russian crude oil at $50 per barrel: Report

Cash-strapped Pakistan is making concerted efforts to procure Russian crude oil at USD 50 per barrel, at least USD 10 per barrel less than the price cap imposed by the G7 countries due to Moscow's invasion of Ukraine, media reports said on Sunday. Crude oil is currently being sold globally at USD 82.78 per barrel. Pakistan, which is currently grappling with high external debt and a weak local currency, is desperate to purchase cheap crude at discounted rates from Russia. Moscow will respond to Pakistan's request for discounted crude oil only after it completes formalities such as mode of payment, shipping cost with premium and insurance, according to The News. The first consignment of crude oil from Moscow is scheduled to arrive in Pakistan by the end of next month, paving the way for a bigger deal in the future, the paper said. The shipping of crude oil from Russian ports will take 30 days, which would mean an increase of USD 10-15 per barrel due to the transportation costs, it .

India agrees to Russia operating more flights connecting 2 countries

India and Russia have "in principle" agreed to revise their bilateral air services agreement whereby Russian carriers will be allowed to operate as many as 64 weekly flights to various Indian cities, according to a senior official. Under the existing agreement, Russia can operate up to 52 weekly civilian flights to India. India has "in principle" agreed to increase the number of weekly flights that Russian carriers can operate to India to 64 from 52. In this regard, the bilateral air services agreement will be amended in due course, the official told PTI. Currently, Aeroflot is operating seven weekly flights to India while no Indian airline is flying to Russia. Earlier, Air India used to operate flights to Moscow. On the condition of anonymity, the official also said it will take some time before Russian carriers will be able to fully utilise the quota of the total number of weekly flights permitted to operate to India. Last month, an Indian delegation led by Civil Aviation Secret

Amid deepening ties, Iran set to buy Russia's Sukhoi Su-35 fighter jets

Iran has finalized a deal to buy Sukhoi Su-35 fighter jets from Russia, state media reported, as defense cooperation between the two countries deepens, reported Times of Israel

Hungarian PM vows to block sanctions against Russia to safeguard interests

In the foreseeable future, Hungary would remain dependent on fossil fuel imports from Russia, and he was optimistic that Russia would prove reliable supplier, Xinhua news agency quoted Orban as saying

Iraq reaches out to Indian refiners to discuss crude oil discounts

Focus on buying Russian crude has led to a decline in imports from West Asia

US gets warrant to seize Russian company's $25 mn Boeing 737 amid sanctions

A federal court in New York authorised the seizure of a USD 25 million Boeing 737 owned by a Russian energy company, citing US sanctions against Russia in response to its invasion of Ukraine, US authorities said on Wednesday. The aircraft is owned by PJSC Rosneft Oil Co., headquartered in Moscow and led by sanctioned oligarch Igor Ivanovich Sechin. The court found probable cause that the aircraft, which has not been in the US since 2014, could be seized by the US based on violations of the Export Control Reform Act. Today's enforcement action demonstrates there is a price to pay for Russian companies and oligarchs that flagrantly evade sanctions that the United States has imposed in response to the unjustified war against the people of the Ukraine, Breon Peace, the US attorney in Brooklyn, said in a news release. Rosneft Oil did not immediately respond to an email seeking comment. The action is part of a continuing effort to diminish Russian wealth after its invasion of ...

Russian launches massive missile barrage, target cities across Ukraine

Russia unleashed a massive missile barrage on cities across Ukraine early on Thursday, targeting energy infrastructure facilities, Ukrainian officials and media said. Air raid sirens wailed all over Ukraine in the first such missile attack in weeks. The governor of the northeastern Kharkiv region, Oleh Syniehubov, reported more than 15 strikes on Kharkiv, Ukraine's second largest city. Objects of critical infrastructure is again in the crosshairs of the occupants, he said in a Telegram post. The governor of the southern Odesa region, Maksym Marchenko, also reported strikes on Odesa, saying that energy facilities and residential buildings were hit. Explosions were also reported in cities in Dnieper, Lutsk and Rivne.

Russia probably does not want military conflict with US, NATO: US intel

The US intelligence community believes that Russia probably does not want a direct military conflict with US and NATO forces, but there is potential for that to occur

Russia plans to challenge US nominee Ajay Banga to World Bank

Russia remains a voting member of the World Bank, although the bank halted all programs in Russia and Belarus last March

Covid-19 lab leak fight obscures the global rise of high-security biolabs

There are 69 so-called Biosafety Level 4, or BSL-4, facilities designed to study dangerous infectious pathogens in operation, under construction or planned worldwide, according to Global Biolabs

The challenge from Urals

India's oil pricing policies must be fine-tuned to reflect the new Russian reality

Chinese FM hints closer ties with Russia; says US attempts won't succeed

Chinese Foreign Minister Qin Gang on Tuesday signalled closer ties with Russia, including dropping the US dollar and Euro in bilateral trade while asserting that America's attempts to "contain" China's rejuvenation will not succeed. Addressing his first annual press conference here on the sidelines of China's Parliament session, he said China will defend its core interests and oppose hegemony, bloc politics and unilateral sanctions. Qin said China and Russia are setting a good example for international relations and it was incorrect to see their close bilateral ties through a Cold War perspective. He defined China's relationship with Moscow as no alliance, no confrontation and not targeted at any third party. Asked about dropping the use of the US dollar and the Euro in China-Russia trade, Qin said China will use whatever currency is efficient, safe and credible. Currency should not be used as a trump card for unilateral sanctions, he said. Russian media reports said the Chinese

US must stop suppressing China or risk 'conflict': Chinese FM Qin Gang

"The United States' perception and views of China are seriously distorted," Qin said

RIC nations unlikely to meet till China border situation normalises

Last week Russian Foreign Minister Lavrov said a meeting would be held later this year

Russian forces steps up effort to take elusive prize of Ukraine city

The fate of Bakhmut appeared to be hanging in the balance on Monday, as Russian forces continued to encroach on the devastated eastern Ukrainian city but its defenders still denied the Kremlin the prize it has sought for six months at the cost of thousands of lives. Intense Russian shelling targeted the Donetsk region city and nearby villages as Moscow deployed more resources there in an apparent bid to finish off Bakhmut's resistance, according to local officials. Civilians are fleeing the region to escape Russian shelling continuing round the clock as additional Russian troops and weapons are being deployed there, Donetsk Gov. Pavlo Kyrylenko said. Russian forces that invaded Ukraine just over a year ago have been bearing down on Bakhmut for months, putting Kyiv's troops on the defensive but unable to deliver a knockout blow. More broadly, Russia continues to experience difficulty generating battlefield momentum. Moscow's full-scale invasion on February 24, 2022 soon stalled and

Germany's Olaf Scholz warns of 'consequences' if China sends arms to Russia

German Chancellor Olaf Scholz says there would be "consequences" if China sent weapons to Russia for Moscow's war in Ukraine, but he is fairly optimistic that Beijing will refrain from doing so. Scholz's comments came in an interview with CNN that aired on Sunday, two days after he met US President Joe Biden in Washington. US officials have warned recently that China could step off the sidelines and begin providing arms and ammunition to Moscow. Ahead of his trip, Scholz had urged Beijing to refrain from sending weapons and instead use its influence to press Russia to withdraw its troops from Ukraine. Asked by CNN if he could imagine sanctioning China if it did aid Russia, Scholz replied: "I think it would have consequences, but we are now in a stage where we are making clear that this should not happen, and I am relatively optimistic that we will be successful with our request in this case, but we will have to look at (it) and we have to be very, very cautious." He did not elabora