"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 ...
India's Growth Ambitions May Depend on Weather India's delicate balance between human ingenuity and environmental vulnerability is at risk as record-breaking temperatures and extreme weather events challenge its vast population. Climate change is becoming a significant obstacle on the path to prosperity, highlighting the need for sustainable solutions. India, a nation with less land and water than many countries, supports nearly a fifth of the world's population on a land area barely bigger than Argentina and with less water than Colombia. However, the recent scorching temperatures in New Delhi signal that this remarkable achievement is under threat. This not only affects the millions sweltering in the world's second-largest city but also impacts the country's economic aspirations. Prime Minister Narendra Modi has promoted the idea that India is on the path to becoming the fastest-growing G20 economy. "India is on the path to becoming a developed nation," ...