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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 ...

Sam Altman returns as CEO of OpenAI with Microsoft support

 


Sam Altman was fired as the CEO of OpenAI by the Board of Directors. In response, he fired the entire Board. However, just five days later, Altman was rehired as the CEO after a large number of OpenAI staff revolted and threatened to leave for Microsoft if he wasn't reinstated.

After firing Sam Altman, the Board had internal disagreements. Adam D'Angelo, a key member, changed his mind due to staff protests fearing a Microsoft takeover. On Tuesday night, Altman was reinstated as CEO with a new board that includes Bret Taylor, Larry Summers, and D'Angelo. Some who voted to fire Altman, like Ilya Sutskever, Helen Toner, and Tasha McCauley, are leaving. Altman's short-lived successor, Emmett Shear, is also departing.

The fight for control of OpenAI boiled down to two groups. One group, like many scientists, wanted to be careful with AI because they believe it poses a big risk to society. The other group, more focused on business, thinks these concerns are exaggerated and wants AI to develop without too many restrictions.

The split in OpenAI's board seemed to align with gender differences. Two women, Tasha McCauley and Helen Toner, who are linked to movements concerned about AI harming humanity, voted to oust Altman. There was also a behind-the-scenes clash between Google and Microsoft, led by Sundar Pichai and Satya Nadella, both of Indian-American descent. Altman expressed gratitude to Microsoft's CEO Satya Nadella for being reinstated.

"i love openai, and everything i’ve done over the past few days has been in service of keeping this team and its mission together. when i decided to join msft on sun evening, it was clear that was the best path for me and the team. with the new board and w satya’s support, i’m looking forward to returning to openai, and building on our strong partnership with msft." Sam Altman tweeted.

Nadella responded, "We are encouraged by the changes to the OpenAI board. We believe this is a first essential step on a path to more stable, well-informed, and effective governance. Sam, Greg, and I have talked and agreed they have a key role to play along with the OAI leadership team in ensuring OAI continues to thrive and build on its mission."

Microsoft has put over $11 billion into OpenAI and owns about 49% of the company, valued at $80 billion. By integrating OpenAI's main product, ChatGPT, into its search engine Bing, Microsoft is now able to compete with Google, which is the leader in the search industry.

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