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Wide-ranging economic sanctions on Russia are likely to stay for several years, if not decades. Given Russia’s critical global role as a supplier of key commodities and military hardware, India should pursue long term solutions to continue this trade.
Courtesy: Advantour
The last week of September was eventful for Russia. The partial-mobilisation was underway, the referendum of Russian-speaking regions in Ukraine took place, President Putin made a significant speech and the Nord Stream pipelines were damaged. Amit Bhandari, Energy Fellow, Gateway House, was in Moscow during this time. In this podcast, he offers his impressions of Moscow after the sanctions, compared with the city he saw before the Russia-Ukraine conflict
Courtesy: Economic Times
India is stepping into a new era of free trade agreements in the midst of turbulent global waters that bring both risks and opportunities. A fragile global recovery can dampen demand for India’s goods, but it can also attract medium and high-tech manufacturing sectors leaving China, benefit from technology and skill transfer from abroad and lay a strong foundation for growth.
Russia, the founding member of the Shanghai Cooperation Organisation (SCO), has been hit by Western sanctions on its energy exports and financial system. Still, Ivan Timofeev, Director of Programs at the Russian International Affairs Council, sees new opportunities to be seized. Deepening India-Russia business engagement is one, and the SCO as a constructive and accommodating force is another. K.A. Dhananjay from Gateway House spoke to Timofeev who visited Mumbai recently.
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The relevance of the Shanghai Cooperation Organisation has increased due to the clear divisions developing in the world, since the Ukraine crisis began. Several leaders will probably attend in-person, a chance to advance their regional and economic interests. India has good relations with most SCO countries, and sees the upcoming Summit as a way to secure its strategic and security objectives.
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India will be president of the G20 in 2023. The world’s most influential economic governance body is facing an existential crisis, where the major powers have fallen out. With geopolitical currents redefining geo-economics, India needs to be ready to emerge as the chief global diplomat.
Courtesy: TASS
Russian President Vladimir Putin’s July visit to Iran was a geopolitical reset for both countries. The collapse of the JCPOA and the Ukraine crisis has strategically united Iran and Russia against their common adversary, the U.S. Russia is now a credible alternative to fill the investment vacuum for Iran’s defence, trade and energy sectors.
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The supply of critical minerals, crucial for new and emerging technologies such as electric vehicles, electronics and renewable energy production, faces a significant disruption due to Covid and the Ukraine crisis. As the prices of these valuable resources surge, India can secure its supplies through the sagacious use of financial investments, efficient policies, and propriety technology. A collaboration with Japan can offer multifaceted benefits.
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Pakistan’s latest economic survey reveals the extent of the country’s indebtedness to China. High-interest Chinese loans, reckless multilateral borrowing, and ever-increasing defence budgets have deleteriously impacted Pakistan’s finances. Any lasting solution to these problems will have to involve China.
Courtesy: Reuters
The Shanghai Cooperation Organisation has been focused on resolving the Afghan crisis. But divergent views of members and the influence of China and Pakistan have eluded a solution. This has been further impeded by the ongoing sanctions and humanitarian issues which are beyond the organisation's scope.
