"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 ...
Elon Musk's venture into the social media landscape took an unexpected turn as his platform X, formerly Twitter, faced a staggering 71.5% decline in value since his acquisition in October 2022. What was initially a $44 billion investment now stands at a mere $12.5 billion, prompting a closer look at the factors contributing to this dramatic downturn. The Acquisition In October 2022, Elon Musk made headlines by acquiring Twitter for a hefty sum of $44 billion. His vision, as expressed, aimed beyond financial gains, emphasizing a broader purpose to benefit humanity. Rebranding and Challenges The platform underwent a transformation, rebranded as X in July 2023. However, this change was accompanied by a 15% drop in monthly users during the first year under Musk's ownership. Reports suggest that X cut its staff by at least 50% and scaled back content moderation, leading to concerns about the platform's ability to manage disinformation. User Drops and Advertiser Exodus The decl...