"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 ...
The Power of Financial Literacy in Building Wealth Financial literacy is the foundation upon which financial stability and wealth are built. Despite its importance, many people lack the knowledge and skills necessary to make informed financial decisions. This blog explores the significance of financial literacy, its impact on personal wealth, and strategies to enhance financial knowledge. The Importance of Financial Literacy Financial literacy involves understanding various financial principles and concepts, such as budgeting, saving, investing, and debt management. It empowers individuals to make sound financial decisions that lead to long-term financial stability. According to a 2020 study by the Financial Industry Regulatory Authority (FINRA), only 34% of Americans could answer at least four out of five basic financial literacy questions correctly. This gap in financial knowledge highlights the need for greater emphasis on financial education. The Impact of Financial Literacy on Wea...