"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 year 2023 unfurled a tapestry woven with triumphs, tribulations, and transformative events that left an indelible mark on the global landscape. This retrospective exploration delves into the intricacies of the year, examining the geopolitical shifts, technological marvels, and humanitarian challenges that defined this dynamic period. February 2023: Turkey's Earthquake Tragedy In the early days of February, a series of five earthquakes struck Turkey and Syria, claiming over 19,000 lives. The quakes, reaching magnitudes of 7.8 and 7.6, left a trail of destruction in multiple provinces. The international response underscored the need for robust disaster preparedness, humanitarian aid, and global solidarity in times of crisis. April 2023: Unrest, Protests, and Population Milestones April unfolded as a month of diverse narratives. Sudan, teetering since the overthrow of Omar al-Bashir, plunged into civil war, showcasing the complexities of political transitions. Meanw...