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A US court sentenced New Delhi-based businessman Sanjay Kaushik to 30 months in prison for conspiring to illegally export controlled aviation technology to Russia, bypassing post-Ukraine invasion sanctions.
Nudged by the US, the G7 finance ministers’ focus on mounting pressure on Moscow narrows the group’s agenda, risking its ability to shape the broader global order
The package, which would be the bloc’s 19th since Moscow’s full-scale invasion in 2022, could also see the EU target Russia’s payment and credit card systems, crypto exchanges
Amid geopolitical crises and rapidly evolving global trade dynamics, India has been expanding its oil import portfolio to secure supplies as it is a net-importer of crude oil. The country depends on imports for over 85 percent of its total crude requirements, with around 30 percent sourced from Russia.
Treasury Secretary Scott Bessent said Thursday that the US is prepared to either ramp up or take down penalties based on the Kremlin’s willingness to negotiate.
Bessent also said that he would speak with his Chinese counterpart on Friday and urge China to rebalance its economy towards increased consumer spending.
A ministry statement also said that Russia would respond to Washington’s ”hostile” actions, announced on Friday, while drawing up its foreign policy strategy.
At the meeting, hosted by current G7 chair Japan, member nations emphasized their commitment to halting Russia's invasion of Ukraine, launched exactly a year ago, and warned Moscow against any use of nuclear weapons.
The proposed package includes trade curbs worth more than 10 billion euros, according to the bloc's chief executive, including a ban on EU imports of Russian rubber.
Russia’s invasion of Ukraine triggered global condemnation and tough sanctions aimed at denting Moscow’s war chest. Yet Russia’s revenues from fossil fuels, by far its biggest export, soared to records in the first 100 days of its war on Ukraine, driven by a windfall from oil sales amid surging prices, a new analysis shows.
A freeze on the central bank’s foreign reserves unplugged Russia from the global financial system, making it the world’s most-sanctioned nation in a matter of days.
A senior official from the Bank of Russia, probably at the level of a deputy governor or general manager, might lead the talks with the RBI officials.
US assistant secretary of state for South Asian affairs Donald Lu will be in India on March 22. Lu is the same US official who earlier this month said India’s defence deals with Russia remain plausible ground for sanctions and Biden was still considering his options on the matter.
The moot question is: are these MNCs are being driven by morality and ethics or purely by self-interest, weighed by the reputational and financial risks of doing business with Putin’s Russia?
The move to ban Russian oil imports to the US received strong support from American voters and lawmakers, even though it could drive up US energy prices.
Despite the steep rise in crude oil prices by over $41/bbl, retail prices of petrol and diesel have remained unchanged since December
PayPal CEO Dan Schulman has said the company stands with Ukraine and condemns Russia's military aggression.
Despite the price increase, the Organization of Petroleum Exporting Countries and its allies including Russia have opted to maintain a 400,000 barrel per day increase in output in March.
Ukraine Russia war: Several videos of liquor store and bar owners in US and Canada emptying out their bottles and taking stocks off the shelves were shared on social media.
Former European Council President Donald Tusk lashed out at EU capitals over their failure to agree on the toughest sanctions such as cutting Russian banks off from SWIFT, exposing a rift within the bloc over its response.
