E-PaperWestern Sanctions News
China hits back against Western sanctions | Mint Primer | Mint
As the US-China trade war intensifies, China wields its control over rare earth minerals as a potent tool against American pressure. Recent export controls on metals used in semiconductors signal a deliberate retaliation. China's new laws, like the unreliable entities list and export-control law, are operational and impacting Western firms. Green-energy tech manufacturers heavily relying on China's supply chain face uncertainty, with proposed export bans on solar-panel technology. Chip metal restrictions pose challenges for the US defence industry. However, China must tread carefully as potential blowback could affect its own commerce. #uschinatradewar
7 Aug 2023India, China Snap Up Cheap Russia Crude; Redraw World Oil Map | Details
India & China snapped up 80% of Russian crude exports in May. And if that’s hard to believe consider this, Russia managed to break records with their seaborne crude exports in May despite all the sanctions.Russia is now supplying 45% of India's and 20% of China's crude imports. The international energy agency forsees a further increase in the demand of Russian crude by India and China.
16 Jun 2023CEFC’s deal with Rosneft driven by Belt and Road Initiative, says company founder
CEFC China Energy’s $9.1 billion purchase of a stake in Russia’s Rosneft Oil was driven by the Belt and Road Initiative and has support from the government, the firm’s founder said
1 min read3 Oct 2017India tries to fix Iran trade payments as Donald Trump hardens line
India, Iran are planning to rever to the old rupee mechanism that was viewed as a safe bet because UCO has no US exposure that could lead it to fall foul of any new sanctions
4 min read22 Mar 2017India lifts ban on trade of certain items with Iran
The government has lifted a ban on trade of specified items with Iran after some western sanctions against the Persian Gulf nation were lifted earlier this year
1 min read29 Jun 2016Reliance set to lift Iran oil after 5-year hiatus: report
Reliance is also talking to NIOC for a term deal to buy 100,000-120,000 bpd of oil, the same level it used to buy before sanctions hit its imports
2 min read19 Feb 2016Unsated by crude glut, Asian oil buyers size up Iran’s barrels
Iran oil minister Bijan Namdar Zanganeh has said he will woo Asian customers and seize market share
3 min read28 Jul 2015Russia calls new sanctions on Crimea ‘collective punishment’
Foreign minister advises US, Canada to think about consequences, says Russia working on retaliatory measures
1 min read20 Dec 2014India’s January-June Iran oil imports climb by a third
Indian refiners shipped in 281,000 bpd of oil from Iran between January and June, up from 211,400 bpd in the same period a year ago
2 min read23 Jul 2014India has not made any oil payments to Iran under nuclear seal: report
Earlier it was reported that India had deposited some of the money owed for oil imported from Iran in a Central Bank of Iran account
1 min read4 Mar 2014Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared