WASHINGTON (AP) — A top Treasury Department official is set next week to make his first official trip to India since the start of Russia's invasion of Ukraine. Amid tensions over India’s neutral stance on the invasion that began in late February, the U.S. wants the meetings to focus on how to deepen ties with the South Asian nation. Treasury Deputy Secretary Wally Adeyemo will travel to Mumbai and New Delhi for meetings that include Prime Minister Narendra Modi’s office, the finance ministry, the Reserve Bank of India, and the Ministry of Petroleum and Natural Gas. And as India is set to lead the Group of Twenty intergovernmental forum in 2023, Treasury says Adeyemo will “discuss key shared priorities such as bolstering energy security, addressing food insecurity globally, and combatting illicit financial flows.” India hasn’t shunned Russia despite its membership in the regional Quad alliance with the U.S., Australia and Japan, Instead, it has maintained its business ties with … [Read more...] about US Treasury official to visit India amid Ukraine tensions
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London—If there was a prize for the most quotable comment on international relations so far in 2022, Indian Foreign Minister Subrahmanyam Jaishankar would be in the running. Responding to criticism of his country’s neutral stance on the Russia-Ukraine war at a security forum in Slovakia in June, Jaishankar said that “Europe has to grow out of the mindset that Europe’s problems are the world’s problems, but the world’s problems are not Europe’s problems.” India’s current foreign policy highlights the paradox inherent in the country’s increasing emphasis on “strategic autonomy” as the world fragments into rival power centers: the United States and its alliance system versus China and its major satellite, Russia. The essence of this paradox is that India’s quest for self-reliance—keeping its distance from the principals of Cold War 2.0 and seeking advantage from diverse relationships—entails a multidimensional international engagement. European politicians painfully weaning their … [Read more...] about What does India want from Russia?
It could be a game changer. Months of negotiations among Democrats in the Senate produced an agreement on Wednesday to make big investments to get fossil fuels out of the nation’s energy system and nearly meet the pledges that the United States has made under the Paris climate accord. If passed, it would be the largest investment in renewable energy in the history of the United States. Feeling a bit of whiplash? That’s why we bring you this special edition of the newsletter. The agreement comes two weeks after Senator Joe Manchin, a West Virginia Democrat, rejected a similar package, saying he feared it would aggravate inflation. Those worries apparently vanished. The latest package is called the Inflation Reduction Act. Manchin’s support is key because Republicans in the evenly divided Senate are opposed. Every single one. What does it contain? The climate centerpiece is $369 billion in investments for climate and energy programs. That’s four times bigger … [Read more...] about What the surprise deal means for climate
Joe Biden says sanctions have ‘crippled’ Russian economy SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info An in-depth analysis of key figures suggests that around 40 percent of Russia’s GDP is under threat of being lost due to businesses withdrawing, putting more than five million jobs at risk. The Russian economy is overly dependent on energy exports to Europe – which are believed to be the main source of funding for Vladimir Putin’s war machine – leaving the Russian despot facing an unaffordable war in Ukraine and domestic unrest. Related articles Chilling UK future of 'empty shelves' laid bare as China play exposed Putin endgame as Russia’s economy tipped to crumble under sanctions The authors of the study said … [Read more...] about Putin nightmare as Russian economy ‘collapsing’ – new Yale charts show markets FROZEN OUT