ARMS IMPORTS FROM RUSSIA
India-Russia ties: The optics of Modi with Putin when Nato meets in Washington
While Nato meets from July 9-11 in Washington to discuss Ukraine, Prime Minister Narendra Modi will visit Russia on July 8-9 to meet President Vladimir Putin. Nato’s primary focus will be on supporting Ukraine and potential membership, as emphasized by Secretary General Jens Stoltenberg. Indian Foreign Secretary Vinay Kwatra assures Modi's visit is pre-scheduled. This visit challenges Russia’s isolation narrative, reinforced by Hungary's recent support. Moscow-based expert Aleksei Zakharov underscores the significance of Russia's neutrality in India-China disputes. The trip addresses US concerns over India-Russia military-tech ties.
Russia Ukraine war: North Korea criticises US for providing military aid to Ukraine
Russia Ukraine war: A top North Korean military official criticised the US over military aid to Ukraine in support of Russia, deepening concerns over Moscow and Pyongyang's military cooperation. A recent pact between Vladimir Putin and Kim Jong-Un commits immediate military assistance in case of aggression, potentially facilitating arms trade and anti-US coalition. North Korea plans to send construction forces to Russia-occupied Ukrainian territories for rebuilding work, raising tensions with China.
US aircraft carrier arrives in South Korea as a show of force against nuclear-armed North Korea
A U.S. aircraft carrier, the USS Theodore Roosevelt, has arrived in South Korea for a joint exercise involving Japan, aimed at bolstering military readiness against North Korean threats. The exercise, called Freedom Edge, follows heightened tensions after a security pact between Russia and North Korea. The U.S., South Korea, and Japan are increasing military cooperation, with the USS Roosevelt strike group expected to participate in the drills. The group will later head to the Middle East to promote regional stability and protect commerce.
India's May oil imports: Russia at record high, Saudi lowest in 10-month
India's oil imports from Russia hit a record high of 2.1 million bpd in May as discounts widened due to lower demand from China. Some European nations avoided Russian oil after the Ukraine invasion, making Russian oil cheaper than similar grades from the Middle East.
Ukraine can hit Russian forces 'anywhere' using US-supplied arms
In a significant shift, the United States authorizes Ukraine to use American-supplied weapons to target Russian forces anywhere, not just near Kharkiv. This adjustment, not a policy change per officials, follows recent cross-border assaults. US National Security Adviser clarifies the agreement includes responding to Russian forces moving towards Ukrainian territory.
Russia and North Korea sign partnership deal that appears to be the strongest since the Cold War
Russian President Vladimir Putin and North Korean leader Kim Jong Un signed an agreement pledging mutual aid against "aggression," signaling stronger ties amid their standoffs with the West. The summit marked Putin's first visit to North Korea in 24 years and raised concerns over potential arms deals for Russia's war in Ukraine. The agreement enhances security, trade, and cultural ties. U.S. and South Korean officials expressed alarm, and Putin’s subsequent visit to Vietnam underscores Russia’s efforts to bolster alliances amid global tensions.
Putin in Vietnam, seeking to strengthen ties in Southeast Asia while Russia's isolation deepens
Putin was greeted by dignitaries upon his arrival in the Southeast Asian country as soldiers in white dress uniforms stood at attention. He arrived from North Korea, where he and North Korean leader Kim Jong Un signed an agreement that pledges mutual aid in the event of war.
9 nuclear-armed nations including India continued to modernise N-arsenals in 2023: SIPRI
The Stockholm International Peace Research Institute (SIPRI) reported that nine nuclear-armed nations, including the US, Russia, France, China, India, and Pakistan, continued to modernize their nuclear arsenals in 2023. China notably increased its nuclear arsenal from 410 to 500 warheads and is expected to continue growing. The report highlighted that around 2,100 deployed warheads were on high operational alert, primarily held by Russia and the US, with China joining for the first time.
Watchdog: Nuclear-armed nations are deepening reliance on nuclear weapons
In 2023, the world's nine nuclear-armed states continued modernizing their arsenals, deepening reliance on nuclear deterrence, per the Stockholm International Peace Research Institute (SIPRI). Amid rising geopolitical tensions, nuclear spending surged by $10.7 billion, totaling $91.4 billion. The US and Russia, holding nearly 90% of global warheads, remain central to these developments.
Imports from Iraq up 58.68% to $3.76 billion in May
The data showed that the inbound shipments from China during the month were 2.82 per cent higher at USD 8.48 billion. Among the top 20 import source nations of India, imports from Saudi Arabia, Switzerland, Japan, Germany, Hong Kong, Australia and Malaysia recorded negative growth in May.
India eyes oil deals with nations including Russia, minister says
Indian Oil Minister Hardeep Singh Puri announced Bharat Petroleum Corp's plan to build a new refinery. The nation aims to sign more oil import deals with countries, including Russia, at discounted rates. Prime Minister Narendra Modi seeks to provide energy at affordable rates to cushion customers from volatile oil markets.
Refined Russian petro goods imports rise 14% in May
India's import of refined products from Russia increased by 14% in May, with naphtha imports tripling. State-run refiners brought in 77% more Russian products, but imports were lower than China and Europe.
G7 urges N.Korea, Russia to 'cease unlawful arms transfers'
G7 foreign ministers expressed grave concern over increasing cooperation between Russia and North Korea, especially regarding arms transfers from Pyongyang to Moscow for potential use in attacking Ukraine. They called for the cessation of these unlawful transfers and emphasized the importance of holding both countries accountable. Recent sanctions by their governments aim to impose costs on entities involved in these transfers. The ministers condemned the use of such arms in striking Ukraine's critical infrastructure, prolonging the suffering of the Ukrainian people.
India, Egypt top destinations for Russian seaborne fuel oil, VGO exports in April, LSEG data shows
Crude oil Import: In April, India and Egypt were key destinations for Russian seaborne fuel oil and vacuum gasoil exports, with a total 10% decrease in exports due to maintenance and outages. The EU's embargo redirected Russian exports to Asia. Shipments to India rose while those to China decreased. Egypt saw increased fuel oil supplies for power generation.
Oil shipments at risk from rising sea levels, think tank warns
The China Water Risk (CWR) think tank warned of adverse impacts of rising sea levels on crude oil shipments in a report. The report says that 12 out of the top 15 tanker terminals were expected to be impacted by one metre of sea level rise, many being Asian nations.
China commerce ministry bans some US firms including Boeing from import, export activities
China's Commerce Ministry has banned certain US firms from importing and exporting related activities to China, including one selling arms to Taiwan. The ministry also forbids them from making new investments in China. Senior executives of these companies will be prohibited from entering China, and their work permits will be revoked.
India's defence capabilities boosted under Modi government, relying on imports only for immediate needs: NITI Aayog member VK Saraswat
India has significantly enhanced its defense capabilities over the past decade, with a focus on indigenous manufacturing and reducing reliance on arms imports. VK Saraswat, a member of NITI Aayog and former chief of the DRDO, highlighted that 60% of India's arms and ammunition are now domestically produced, with major corporations like Adani, Tata, and L&T contributing to radar systems and gun manufacturing. Saraswat also assured that India's power capacity is sufficient to meet its needs, minimizing the risk of significant power cuts. Companies like Hindustan Aeronautics (HAL) and Bharat Electronics are poised to benefit from these trends.
Despite $125 billion debt, why is Pakistan increasing its defence budget to 18000 crore rupees
Pakistan faces economic strain with a $124.5 billion foreign debt, 42% of its GDP. It boosts military capabilities through major arms imports, mainly from China, accounting for 82% from 2019 to 2023. Despite economic woes, it increases defense spending by 15.4% in the national budget, totaling 18000 crore Pak rupees. This military expansion includes submarines from China. Reports suggest Pakistan may have secretly supplied arms to Ukraine, contradicting its neutrality stance. Public discontent grows due to economic hardships and perceived military dominance in resource allocation.
Met coal imports from Russia jump nearly three-fold in last 3 fiscals
India's metallurgical coal imports from Russia have increased by three-fold in the last three years, reaching 15.1 million tonnes in 2023-24, mainly due to lower prices. This increase is attributed to lower prices, which are cheaper for domestic steel players. Australia, a major supplier of met coal to India, has seen a decline in its exports to India. The rise in imports is attributed to "cost-benefit" reasons, as imports from Russia are costing less to domestic steel players.
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