"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 ...
Introduction: The rapid advancement of technology has ushered in transformative changes across various aspects of our society. From discussions on the viability of Universal Basic Income (UBI) to the nuanced impact of Artificial Intelligence (AI) on job markets and its profound influence on the finance and banking sector, this essay explores the multifaceted nature of technological evolution. Universal Basic Income (UBI): In recent years, the concept of Universal Basic Income has gained traction as a potential solution to address economic inequalities and provide a safety net in an ever-changing job market. Defined as a regular income distributed by the government to all citizens, irrespective of other income sources, UBI prompts us to reconsider the traditional structures of social welfare. AI Takeover and Job Landscape: The rise of Artificial Intelligence has sparked debates about the future of work and the potential for automation to replace human jobs. While concerns about an AI ta...