Russia Financial News

Also read: Saudi Arabia has an unlikely solar star Data from the ministry of commerce and industry showed that oil supplies from Saudi Arabia jumped 67.5% to $2.6 billion taking it to the second position in the list of oil suppliers to India, from $1.55 billion in January. For most part of the past two years, Iraq has been the second largest supplier to India. It has now slid to the third position with $2.24 billion worth of supplies in February, 11.6% down from $2.54 billion in January.

Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets based on seven high-frequency indicators. One of the original members of the list, Russia, has been temporarily dropped from the tracker since its trade data has not been reliably available for the last two years. A country’s score on a given metric is a measure of its distance from both the best performer and the worst performer.

lithium processing, said four sources familiar with the matter, to bolster its nascent lithium mining and electric vehicle industries and avoid relying on China. India's Ministry of Mines began discussions with Australia and the United States last year, said the four sources, two from India's government and two industry participants. The Indian government and some private companies have also sought help from Bolivia, Britain, Japan, and South Korea, said the sources, who did not wish to be identified as the discussions were not public. Executives from Russia's TENEX, part of state-owned nuclear energy company Rosatom, approached the Indian government and have held at least two meetings with Indian officials this year, offering lithium processing technology and the possibility of collaborating with Indian companies, said one of the sources, a senior government official with direct knowledge of the plans.

long-range missiles to Ukraine for use in its battle to fight off Russian invaders, and Ukraine has now used them twice, a US official said on Wednesday. The missiles were contained in a $300 million military aid package for Ukraine that US President Joe Biden approved on March 12, said the US official, speaking on condition of anonymity. The official would not say how many of the missiles were sent. White House national security adviser Jake Sullivan, at a briefing for reporters, confirmed that a «significant number» of the missiles had been sent to Ukraine and said «we will send more.»

Russian funds tap into the stranded rupee balance generated in the trade between the two countries? In the course of negotiations, some of the Russian financial institutions have sounded out the Reserve Bank of India (RBI) on a mechanism that would let them use the rupees lying in special accounts in India for investment in stocks and securities here. Till now, 10 institutions from Russia, including its biggest lender, have registered as foreign portfolio investors (FPIs) with Sebi. But they have made little investments — probably, due to the hurdles in cross-border payments caused by US sanctions in the wake of Russia’s war with Ukraine. If, however, RBI permits the flow of rupees from the trade balance pool to the rupee accounts of Russian FPIs, the latter can invest the amount in securities listed on Indian exchanges. Under the framework suggested, the FPIs could match a transfer of rupees from the pool by paying the equivalent in roubles to Russian companies that have exported to India but are reluctant to accept payments in rupees.

A Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.

The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv

A company started by a Texas billionaire oilman has announced a deal with Venezuela’s state-owned oil company to rehabilitate five aging oil fields

Ajit Doval had a bilateral meeting with His Excellency Mr. Nikolai Patrushev, Secretary of the Security Council of the Russian Federation," the embassy said in a post on X. "Both sides reviewed progress in bilateral cooperation and discussed important issues of mutual interest," it added.

CHASIV YAR, Ukraine—The explosion lit up the night sky, sending flames hundreds of feet into the air. Another huge blast followed a few seconds later, then a third. The booms carried for miles across the fields east of Chasiv Yar, and a few moments later, a jet ripped through the sky.

Gaganyaan mission today, April 24, embarking on achieving yet another significant milestone in the space, said ISRO Chairman S Somanath on the sidelines of an event organized by the Astronautical Society of India (ASI) in Ahmedabad. “The airdrop test will happen on April 24. Then two more uncrewed missions will happen next year and then the manned mission, if everything goes well, by the end of next year," Somanath had said on April 17.

Joe Biden will sign a bill of national security package to deliver a long-delayed $95 billion emergency aid for Ukraine, Israel, and Taiwan on April 24. The Senate passed the aid for besieged US allies on Tuesday night, clearing the way for resumed arms shipments to Kyiv within days. “Congress has passed my legislation to strengthen our national security and send a message to the world about the power of American leadership: we stand resolutely for democracy and freedom, and against tyranny and oppression," the statement read.

Joe Biden vowing new arms supplies will be delivered swiftly to the warzone as Russia makes battlefield gains. Days after the House of Representatives cleared the measure — part of a massive $95 billion in assistance to allies including Israel and Taiwan — the Senate followed suit, passing the package with broad bipartisan support.

EAM Jaishankar expresses concern over rising deaths of Indian students in US "Now I read that article and I wanted to say listen, in that heat my lowest turnout is higher than your highest turnout in the best run," Jaishankar said. Jaishankar stressed that "They (West) actually think they are part of our electorate", adding, "I think it's time today that we disabuse them, and the best way that we do that, is by confidence." 'They need to calm down': Jaishankar dials Iran, Israeli counterparts The EAM said that the Western media also slams the Bharatiya Janata Party by calling it "unfair", and added, "In a kind of way, today, we are at a very important inflection point.". "They will question your election system, your EVM, your election commission, even the weather," Jaishankar said.

nuclear weapons in space on Wednesday at the United Nations Security Council, which is due to vote on a U.S.-drafted resolution calling on countries to prevent an arms race in outer space. Russia is expected to block the draft resolution, said some diplomats. The U.S.

action plans for around 20 agricultural products including banana, mangoes, potato and baby corn to boost their exports and these are likely to be ready in the next 3-4 months. “We have identified 20 products. At present, India’s share is low in global exports. We are working on a detailed action for all these products,” said Rajesh Agarwal, additional secretary, department of commerce, adding that the action plan will be discussed with all the stakeholders including states for further action. Fresh grapes, pomegranate, watermelon, guava, green chilly, capsicum, okra, garlic, onion, groundnut, alcoholic beverages, cashew nut, buffalo meat, jaggery, natural honey, and ghee are the other products included in the exercise as India aims to increase its share in global exports to 4-5% in the next few years from 2.5% now.

Chinese banks off the global financial system, in the hopes of stopping Beijing's commercial support of Russia's military production, the Wall Street Journal reported on Monday, citing people familiar with the matter. With Secretary of State Antony Blinken due to visit China this week, it remains to be seen whether this financial threat will dent the China-Russia trade enabling Moscow to rebuild its military after losses in Ukraine, the report said. Blinken on Friday criticized Chinese support for Russia's defence industry, saying Beijing was the key contributor to Moscow's war in Ukraine through its provision of critical components for weaponry.

Finally, the United States’ polity has found the resolve to pass a much-delayed aid package for Ukraine after wrangling over it for months, even as the situation for Ukraine has been going from bad to worse on the battlefield against Russia. This much-needed $61 billion package, which includes air defence systems, mid- to long-range missiles and artillery shells, along with more than $9 billion of economic assistance, got the approval of the US House of Representatives last week by 311 votes to 112.

Russia said on Monday that US, British and French military support for Ukraine has pushed the world to the brink of a direct clash between the world's biggest nuclear powers that could end in catastrophe. President Vladimir Putin's 2022 invasion of Ukraine has touched off the worst breakdown in relations between Russia and the West since the 1962 Cuban Missile Crisis, according to Russian and US diplomats. Russian foreign minister Sergei Lavrov said the US and NATO were obsessed with the idea of inflicting «strategic defeat» on Russia.

Alex Popken was a trust and safety executive at Twitter, leaving in 2023 after a decade at the social media company focusing on content moderation

Ukrainian and Western leaders have welcomed the passing of a desperately needed aid package for Ukraine by the U.S. House of Representatives