"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 Wealth Divide: Hindu High Castes Hold 41% In a nation as diverse as India, where the tapestry of cultures, religions, and castes weaves a rich and varied social fabric, understanding the nuances of wealth distribution is paramount. A seminal study, authored by Zeeshan Shaikh and published in 2020, provides a meticulous examination of wealth ownership across different socio-religious groups, offering invaluable insights into the prevailing disparities and their implications for inclusive development . Unveiling the Wealth Landscape: The study's findings lay bare the stark inequalities in wealth ownership among various social groups in India. Hindu high castes emerge as the predominant holders of wealth, commanding a significant 41% share of the nation's riches. Their total wealth, estimated at Rs 1,46,394 billion, underscores their dominant economic position. Trailing behind are the Hindu Other Backward Classes (OBCs), who claim 31% of the total wealth, amounting to ...