Page 140 - Russia

The de-dollarisation debate

There are reasons to be bearish on the greenback, but it is unlikely to lose the reserve currency status

Fire erupts at Crimea oil depot as hit by Ukraine's drone: Russian official

A massive fire erupted at an oil depot in Crimea after it was hit by two of Ukraine's drones, a Russia-appointed official there reported on Saturday, the latest in a series of attacks on the annexed peninsula as Russia braces for an expected Ukrainian counteroffensive. Mikhail Razvozhayev, the Moscow-installed governor of Sevastopol, a port city in Crimea, posted videos and photos of the blaze on his Telegram channel. Razvozhayev said the fire at the city's harbor was assigned the highest ranking in terms of how complicated it will be to extinguish. However, he reported that the open blaze had been contained. Razvozhayev said the oil depot was attacked by two enemy drones," and four oil tanks burned down. A third drone was shot down from the sky over Crimea, and one more was deactivated through radio-electronic means, according to Crimea's Moscow-appointed governor, Sergei Aksyonov. Russia annexed Crimea from Ukraine in 2014, a move that most of the world considered illegal. Ukrai

US provoking countries into military confrontation with Russia: Minister

The Russia-Ukraine war started on February 24. The war has since taken numerous lives and continues to escalate between the two nations

SCO Summit 2023: India, Russia resolve to strengthen defence cooperation

Defence Minister Rajnath Singh and his Russian counterpart, General Sergei Shoigu, vowed on Friday to strengthen the India-Russia military partnership while expressing satisfaction over the continued trust and mutual respect in the ties. Singh and Shoigu held extensive talks, covering the regional security situation and key aspects of bilateral defence relations, including industrial partnership, at a meeting on the sidelines of a conclave of the Shanghai Cooperation Organisation (SCO) here. An Indian readout of the meeting said the two ministers also discussed the Russian defence industry's participation in the "Make in India" initiative in the defence manufacturing sector and ways to provide further impetus to it. It said Singh and Shoigu discussed matters relating to regional peace and security as well. "They expressed satisfaction over the continued trust and mutual respect between the two countries, particularly in defence, and reiterated their commitment towards strengthening

Russia launches 20 missiles, 2 drones at Ukraine, attack kills 16 people

Russia fired more than 20 cruise missiles and two drones at Ukraine early on Friday, killing at least 16 people, most of them when two missiles slammed into an apartment building in the centre of the country, officials said. Three children, including a toddler, were among the dead. The missile attacks included the first one against Kyiv, Ukraine's capital, in nearly two months, although there were no reports of any targets hit. The city government said Ukraine's air force intercepted 11 cruise missiles and two unmanned aerial vehicles over Kyiv. The strikes on the nine-story residential building in central Ukraine occurred in Uman, a city located around 215 kilometres (134 miles) south of Kyiv. Fourteen people died in that attack, according to the interior ministry, including two 10-year-old children. The Ukrainian national police said 17 people were wounded and three children were rescued from the rubble. Nine were hospitalised. The bombardment was nowhere near the war's sprawling

Russian Foreign Minister Sergey Lavrov to attend SCO meeting in Goa

Russian Foreign Minister Sergey Lavrov will attend a meeting of the Shanghai Cooperation Organisation (SCO) in India early next month, Russian officials said on Thursday. India is hosting the meeting of foreign ministers of the SCO countries in Goa on May 4 and 5. "Russian Foreign Minister Sergey Lavrov will take part in the meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation (SCO) member states in India," a Russian official said. "There will also be an exchange of views on topical issues of the international and regional agenda," the official said. In addition, the Russian foreign minister will have a number of bilateral meetings, he added. The SCO member countries are Kazakhstan, China, Kyrgyzstan, India, Pakistan, Russia, Tajikistan and Uzbekistan.

Global economic uncertainty means higher oil prices; forecasts unreliable

The economic outlook and Chinese consumption growth are key to demand expectations, while Russia is the wild card in terms of supply

Russia says conditions not ripe for Black Sea grain deal extension

Circumstances are not yet in favour of extending the Black Sea grain export deal, the Kremlin has said after UN Secretary-General Antonio Guterres sent a letter to Russian President

North Korea vows strong ties with Russia on leaders' summit anniversary

North Korea vowed on Tuesday to strengthen its ties with Russia on the occasion of the fourth anniversary of the first summit between the leaders of the two nations

India to buy Russian, American missile systems worth Rs 200 mn for Navy

The Harpoon missile system acquisition is expected to cost around USD 80 million to the Indian Navy under a foreign military sales route

Russian oil cuts Opec's share of Indian market to 22-year low at 59%

OPEC members mainly from the Middle East and Africa, saw their share of India's oil market slide to 59% in the fiscal year to March 2023, from about 72% in 2021-22

Russia's Medvedev warns Moscow will scrap grain deal if G7 bans exports

The Group of Seven (G7) countries are considering a near-total ban on exports to Russia

India in talks to open up Chennai-Vladivostok Maritime Corridor: Sonowal

India is in discussion with Russia to inaugurate the Chennai-Vladivostok Maritime Corridor aimed at boosting maritime ties between the two countries, Union Minister Sarabananda Sonowal said on Sunday. The minister of ports, shipping and waterways, who was here to review the performance of Chennai Port and Kamarajar Port, inaugurated a slew of projects worth Rs 148 crore. India was in talks with Russia to open the Chennai-Vladivostok Maritime Corridor, he said at the event. The discussion between the two countries was aimed at bolstering maritime trade, he said. "Under the leadership of Prime Minister Narendra Modi, India affirms its commitment to rejuvenate its trade and investment potential to propel the growth of India," he said. "This corridor will serve this purpose, acting as a conduit of growth and investment cooperation between two historic cities with rich marine history -- Chennai and Vladivostok -- of the two countries," he said. Sonowal later inaugurated three new proje

Behind the 'Russia tilt'

Unpacking India's 'national interest', more than a year after the invasion

Russia announces "tit-for-tat" expulsion of more than 20 German diplomats

Moscow accused Berlin of "continuing to demonstratively destroy the entire range of Russia-Germany relations"

Defence ministers of Russia, China may attend SCO meet in India next week

Chinese Defence Minister Li Shangfu and his Russian counterpart Sergei Shoigu are expected to attend a key meeting of the Shanghai Cooperation Organisation (SCO) to be hosted by India next week under its presidency of the grouping, people familiar with the development said on Saturday. There is no confirmation yet on in-person participation of Pakistani Defence Minister Khawaja Asif in the SCO defence ministerial meeting scheduled for April 27 and 28, they said, adding he is likely to join the deliberations virtually. The people said defence ministers of China, Russia and other SCO member countries except Pakistan have confirmed their in-person attendance. However, there was no official announcement on the participation at the defence ministerial meeting by the SCO member states. The visit by Li, if it takes place, would come amid the three-year border standoff in eastern Ladakh. The SCO defence ministerial meeting in New Delhi would be followed by the foreign ministerial meeting o

Indian business delegation to visit Russia to explore agri exports

The exporters expect to sign deals for selling a wide range of products including tea, sugar, coffee, dairy, meat, and marine products, the official said

Russia's air force accidentally bombs its own city 'Belgorod' near Ukraine

When a powerful blast shook a Russian city near the border of Ukraine residents thought it was an Ukrainian attack. But the Russian military quickly acknowledged that it was a bomb accidentally dropped by one of its own warplanes. Belgorod, a city of 340,000 about 40 kilometers (25 miles) east of the border, has faced regular drone attacks that Russian authorities blame on the Ukrainian military, but the explosion late Thursday was far more powerful than anything its residents had heard before. Witnesses reported a low hissing sound followed by a blast that made nearby apartment buildings tremble and threw a car on a store roof. It left a 20-metre (66-foot) -wide crater in the middle of a tree-lined boulevard flanked by apartment buildings, shattering their windows, damaging several cars and injuring two residents. A third person was later hospitalized with hypertension. Immediately after the explosion, Russian commentators and military bloggers were abuzz with theories about wha

Russia minister visits Venezuela, reviews ties, offers full support

Russia and Venezuela reviewed some of their hundreds of bilateral agreements covering the financial, energy, agricultural and several other sectors during discussions between their top diplomats and other high-level officials Tuesday in the South American country. Russian Foreign Minister Sergei Lavrov and his Venezuelan counterpart Yvn Gil held a joint press conference in Caracas hours after the former arrived to the allied country in the second stop of a tour of four Latin American nations. Both men vowed continued support for each other's country and condemned the economic sanctions that the United States government has imposed on them. We fully support the position of our Venezuelan friends, Lavrov said. It is their country ... and we are going to support it in any way so that the Venezuelan economy becomes an independent economy from the pressures of the United States and other western actors. Lavrov's remarks were translated from Russian to Spanish by a government-provided ...

As India and Russia discuss FTA, the elephant in the room is rupee trade

Finding alternative paths to buy oil from states under Western sanctions is stretching the government and RBI's creativity