Rome/Beijing – Italy, the only G7 country to participate in China’s ambitious Belt and Road Initiative (BRI), is preparing to withdraw. Sources indicated that the Italian government would soon decide on the BRI due to pressure from fellow European countries and the United States and its readiness to cooperate in the semiconductor sector with Taiwan. […]
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Moscow – Alexander Novak, Deputy Prime Minister of Russia, has claimed that Russia has completely moved away from the dollar and Euro as a currency to trade oil and are focused on regional currencies. He said Russia had traded oil with China in exchange for Yuan and Rubel. The International Energy Agency (IEA) recently declared […]
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Moscow/ Paris – Despite the Western sanction on oil due to the Ukraine war, Russia has managed to keep up with its oil exports. New report by the International Energy Agency (IEA) indicates that Russian exports have been about 8.1 million barrels per day in March, the highest in the last three years, earning a […]
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New Delhi – Before the Ukraine conflict, India used to buy about 1% of its energy demand from Russia, which has now significantly increased. In March, India purchased 1.64 million barrels of oil per day from Russia, which is twice what India used to buy from Iraq, its traditional source. Despite the US and Europe […]
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Tokyo/ Moscow – Group of 7 developed countries, known as the G7, has supported and aided Ukraine in ongoing Russia- Ukraine conflict. They imposed heavy sanctions on Russia and its oil exports to weaken the Russian economy. One of the decisions was to impose a price cap on oil purchase. However, Japan, one of the […]
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Riyadh – Saudi Arabia’s Energy Minister, Abdulaziz bin Salman has warned the Western countries to stop the production and supply of oil if attempts are made to cap the price of crude oil. Other oil-producing countries which are allies of Saudi Arabia would follow the same. Due to the Russia-Ukraine conflict, in December, the […]
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London/Washington/Moscow – After the Russia-Ukraine conflict began, the United States took the initiative to impose sanctions on the economy, including sanctions on Russian oil. Claims were made by leading officials and analysts, including the US President, to prevent the Ukraine conflict by smashing the Russian economy. However, it has not made much difference even after […]
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Beijing: The Quad nations would continue to support the free and open Indo-Pacific region. It was announced at a Quad meeting held in New Delhi last week that the Quad would anyhow oppose the unilateral attempts to change the status quo that region. Upset by this, China has slammed the US. China’s Foreign Minister Qin Gang […]
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Moscow: The US media has reported that the global fuel market is undergoing major changes due to the sanctions imposed on Russia by Western countries after the beginning of the Russia-Ukraine conflict. The report said that Russia is now exporting large quantities of fuel to Asia and other regions instead of the West, which will […]
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Tokyo/Moscow: It has surfaced that an increase in trade between Russia and Japan has occurred, given the sanctions imposed by the G7, a group of advanced countries in the world, and other western countries. In the first 11 months of 2022, trade between the two countries has reached a whopping $18 billion. It was revealed […]
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