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"India's Efforts to Secure Affordable Russian Oil Amid Tightening Sanctions"

"India's Efforts to Secure Affordable Russian Oil Amid Tightening Sanctions" India’s state-owned refiners are expediting payments for Russian crude oil to complete transactions before expanded US sanctions take effect. These refiners now settle payments within two days instead of the usual five, aiming to secure discounted Russian oil while navigating an increasingly restricted global trade environment. The urgency stems from Washington's announcement of stricter sanctions targeting Russia’s oil industry, which are set to take effect next month. Refiners are keen to ensure transactions are completed during the “wind-down” period allowed for pre-sanctioned cargoes. At least 4.4 million barrels of Russian oil are en route to Indian ports like Jamnagar, Chennai, Paradip, and Visakhapatnam. Among these shipments is the tanker Mercury , carrying over 1 million barrels of Russian Urals crude, expected to arrive in Paradip soon. This vessel loaded its cargo in mid-December ...

World War 1 explained




How it's started ?

World War I, which took place from 1914 to 1918, was triggered by a complex interplay of factors, including nationalism, imperialism, militarism, and a network of alliances between various European powers. The immediate cause of the war was the assassination of Archduke Franz Ferdinand of Austria-Hungary in June 1914, which led to Austria-Hungary declaring war on Serbia. The conflict quickly escalated as the existing network of alliances drew more countries into the fray. These alliances included the Triple Entente (France, Russia, and the United Kingdom) and the Central Powers (Germany, Austria-Hungary, and the Ottoman Empire). Tensions, rivalries, and territorial disputes among these nations contributed to the outbreak of the war, leading to a devastating global conflict that ultimately reshaped the political landscape of Europe and the world.

Who were part of it?

World War I was a global conflict that involved a significant number of nations across various continents. While the two main alliances were the Allies and the Central Powers, the war's impact extended to several other countries and regions. Some further elaboration on the involvement of certain nations is as follows:

The Allies, comprising the Triple Entente, saw the participation of France, the United Kingdom, and Russia. The entrance of the United States into the war in 1917 brought considerable manpower and resources to the Allied cause. Italy joined the Allies in 1915, primarily to fulfill territorial ambitions. Japan, an ally of Britain, seized German possessions in China and the Pacific. Other nations such as Belgium, Serbia, Romania, and Greece also aligned with the Allies, either due to territorial concerns or shared interests.

The Central Powers, consisting of Germany and Austria-Hungary, had initially sought to preserve the status quo in Europe. The Ottoman Empire, which joined the war on the side of the Central Powers in 1914, aimed to protect its territories and assert its influence in the Middle East. Bulgaria, seeking territorial gains, allied with the Central Powers in 1915.

Moreover, numerous other countries around the world, including various European colonies in Africa and Asia, were drawn into the conflict due to their colonial ties with the warring powers. The war's impacts were felt globally, leading to widespread social, economic, and political changes that shaped the course of the 20th century.

Financial Cost

The financial cost of World War I was staggering. While precise figures vary, it's estimated that the total cost of the war, including direct and indirect expenses, was in the range of $186 billion to over $400 billion in 1914-1918 US dollars. This astronomical sum included military expenditures, reconstruction costs, war-related debts, and various economic losses incurred by the participating nations. The war had a profound impact on the global economy, leading to massive debts for many countries involved and significantly affecting post-war reconstruction efforts and economic stability.

Leaders

During World War I, several key political and military leaders played crucial roles in guiding their respective nations and alliances. Some prominent leaders during the war were:

1. Allied Powers:

 United Kingdom: Prime Minister David Lloyd George and later Winston Churchill

France: President Raymond Poincaré and later Georges Clemenceau

Russia: Tsar Nicholas II and later Alexander Kerensky

United States: President Woodrow Wilson

2. Central Powers:

 Germany: Emperor Wilhelm II and Chancellor Theobald von Bethmann-Hollweg

Austria-Hungary: Emperor Franz Joseph I and later Emperor Karl I 

Ottoman Empire: Sultan Mehmed V and later Mehmed VI 

Bulgaria: Tsar Ferdinand I

These leaders made critical decisions and shaped the course of the war, both politically and militarily, influencing the strategies, policies, and diplomatic efforts of their respective nations during this turbulent period in world history.

Who were winners ?

The Allied Powers emerged victorious in World War I. The Central Powers, which included Germany, Austria-Hungary, the Ottoman Empire, and Bulgaria, were eventually defeated. The signing of the Armistice of Compiègne on November 11, 1918, marked the end of the fighting and signaled the defeat of the Central Powers. The Treaty of Versailles, signed in 1919, officially ended the state of war between Germany and the Allied Powers. The treaty imposed significant territorial losses and reparations on Germany and laid the groundwork for the subsequent peace settlement and the establishment of the League of Nations, an international organization aimed at maintaining world peace.

How it ended ?

World War I ended with the signing of the Armistice of Compiègne on November 11, 1918. This armistice effectively halted the fighting on the Western Front, leading to the cessation of hostilities between the Allies and Germany. The armistice signaled Germany's acceptance of the terms of the Allies and marked the military defeat of the Central Powers. The agreement included provisions for the withdrawal of German forces from occupied territories, the surrender of military equipment, and the release of prisoners of war.

Following the armistice, peace negotiations took place, culminating in the signing of the Treaty of Versailles in 1919. The treaty formally ended the state of war between Germany and the Allied Powers. It imposed severe terms on Germany, including territorial losses, disarmament, substantial reparations, and the acceptance of full responsibility for causing the war. The Treaty of Versailles laid the groundwork for a new geopolitical order in Europe and marked the beginning of a tumultuous period that eventually led to World War II.



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