Thundering Thursdays

[ NATIONAL ]

Ukraine Crisis: India to allow Russia to invest, borrow from the domestic market amid sanctions on Moscow

India has pushed back against U.S. concerns by noting that it needs Russian arms to counter China, particularly after border clashes in 2020, and alternatives are too expensive. The strategic relationship between India and Russia dates back to the Cold War and remains robust, even as Modi has shifted the country more toward the U.S. orbit in recent years.

Diplomatic movements in New Delhi today

  • UK Foreign Secy Liz Truss in Delhi; holds talks with EAM Jaishankar. Truss, who arrived in India on Thu on an official visit will convey to Jaishankar that Russia’s actions on Ukraine, underlining the importance of democracies to work together to deter “aggressors” and “reduce vulnerability to coercion,” the British High Commission said.
  • Mexico Foreign Minister to meet ISRO Chief in Delhi; Leave for Mumbai later. Foreign Minister Marcelo Ebrard Casaubónan, who is on an India visit, has termed the country an “important partner” in trade and space. This is the first visit of Marcelo Ebrard Casaubón to India in his capacity as foreign minister, during which he will also visit Mumbai with a big delegation.
  • Dutch NSA in Delhi for talks National Security Advisor Ajit Doval on Thu met Geoffrey Van Leeuwen, the security and foreign policy advisor to the Dutch prime minister Mark Rutte in New Delhi.
  • US Deputy NSA Daleep Singh’s 2nd day in Delhi, ahead of the 2+2 meet in the US

India-Australia interim free trade agreement to be signed over the weekend

Wion-The long-awaited interim free trade agreement (FTA) between India and Australia will be signed this weekend. (sources)- all concerns between the two parties have been settled. Both countries’ two-way trade was $24.3 billion in 2020, and India was Australia’s 7th largest trading partner. Earlier this month, Indian PM Modi and Australian PM Morrison held a virtual summit, the 2nd such summit in 2 years. Australian Trade Minister and his Indian counterpart have held several talks, including many visits by the Australian minister to Delhi. In the last meet in Delhi in Feb, during which it was decided that the interim FTA would be signed within 30 days and the CECA within a year. Morrison’s govt announced an investment worth $280 million in India. The Indian population became Australia’s 2nd-largest overseas-born group, behind the UK-born at 721,050-strong in 2020.

Blinken, Jaishankar review ‘shared efforts’ in Indo-Pacific

The US Secretary of State Antony Blinken on Thu (local time) spoke to Indian External Affairs Minister S Jaishankar and reviewed their shared efforts to promote a free, open, secure, and prosperous Indo-Pacific and the worsening humanitarian situation in Ukraine, the State Department spokesperson Ned Price said in a statement. India and the US are scheduled to hold a 2+2 dialogue in Washington on Apr 11. The EAM and Defence Minister Rajnath Singh will meet their counterparts Secretary of State and US Defence Secretary Lloyd Austin respectively along with some other meetings. The last 2+2 Ministerial Dialogue between the two countries was held in Oct 2020 in New Delhi.

Biden continues to express confidence in Garcetti to be US ambassador to India

As Los Angeles Mayor Eric Garcetti’s confirmation to be the next US ambassador to India is increasingly in doubt, President Biden is still confident about Garcetti and believes he will be an excellent representative in India. According to the White House, POTUS continues to express confidence about the prospects of Garcetti’s confirmation. Multiple senators including Democrats have privately raised concerns over his professed lack of knowledge about sexual assault and harassment allegations against a top adviser.

India, France begin mega naval wargame in the Arabian Sea

It is the 20th edition of the Varuna series of exercises and it has become a vital part of strategic ties between the two countries. India and France on Wed began a 5-day mega naval wargame in the Arabian Sea in reflection of growing congruence in their maritime security cooperation. The Indian Navy said various platforms including ships, submarines, maritime patrol aircraft, fighter aircraft, and helicopters of the two navies are participating in the Varuna exercise. French Navy Chief visited India this week during which he held talks with his Indian counterpart focusing on mechanisms to ensure peace and stability in the Indian Ocean amid rising Chinese presence in the region. The French Navy deployed its nuclear-powered aircraft carrier Charles de Gaulle, and its entire carrier strike group in that exercise, reflecting growing congruence in naval ties.

UAPA Tribunal confirms the Centre’s decision declaring Zakir Naik’s IRF as unlawful

The Tribunal under the Unlawful Activities (Prevention) Act (UAPA) in its order confirmed the notification dated 15 Nov 2021 issued by the Union of India under sub-Sections (1) and (3) of Section 3 of the Act declaring Zakir Naik’s Islamic Research Foundation (IRF) as an “unlawful association”. The Tribunal in its order stated that it is in full agreement with the argument made by the Solicitor General appearing on behalf of the Central Govt and the evidence brought on record has also proved that the respondent Association is indulging in unlawful activities. Naik runs 2 TV stations, namely Peace TV and Peace TV Urdu. Both the channels are banned in many countries. It is banned in India, Bangladesh, Sri Lanka, Canada, and the UK.

[ NEIGHBORHOOD ]

No-confidence vote: Fearing ouster, Imran Khan offers to dissolve the assembly

Pakistan Prime Minister Imran Khan has reportedly offered to dissolve the assembly on the condition to withdraw the no-confidence motion against him, a local media report said on Fri. Imran Khan has said that if the Opposition doesn’t agree to his suggestion, he is ready to face any situation, Geo News reported Thu, citing sources. An “important personality” has given a message of Imran Khan to the Leader of the Opposition in the National Assembly Shahbaz Sharif, the report added.

6 Pakistani soldiers, 3 terrorists were killed in the clash in Khyber Pakhtunkhwa

A Pakistan Army captain, among two soldiers, was killed during an exchange of fire between the security forces and terrorists in Makin city of Pakistan’s South Waziristan, local media reported on Wed. Earlier, 6 Pakistani soldiers and 3 terrorists were killed in a clash in the Tank district of Pakistan’s northwestern Khyber Pakhtunkhwa province on Wed. The 3 terrorists attempted to enter a military compound in the district, the military’s media wing Inter-Services Public Relations said in the statement, Xinhua reported.

Ties with China are termed the cornerstone of Pakistan’s foreign policy

Foreign Minister Shah Mahmood Qureshi and Chinese State Councilor and Foreign Minister Wang Yi met here on Wed. Qureshi is visiting China to attend the third meeting of foreign ministers of Afghanistan’s neighboring countries. He also held separate meetings with his Russian, Iranian and Afghan counterparts Sergey Lavrov, Dr. Hossein Amir Abdollahian, and Amir Khan Muttaqi.

World Bank freezes Afghan projects

The projects, to be funded under the revamped Afghanistan Reconstruction Trust Fund, were being readied for implementation by the UN agencies to support projects in agriculture, education, health, and livelihoods. The World Bank has put 4 projects in Afghanistan worth $600 million on hold amid concerns over a decision by the Taliban regime to ban girls from returning to public high schools, the bank said. But the bank’s guidance requires all ARTF-financed activities to support access to — and equity of services for — women and girls in Afghanistan, the bank said, citing its deep concerns over the Taliban’s ban on girls attending high school. China has urged neighboring countries to help build a stable Afghanistan and demanded that the United States return the country’s frozen assets as Beijing seeks to bolster its role as a major influence in the region.

UN seeks record $4.4B for Afghans who are struggling under Taliban

The UN’s aid coordination office, backed by Britain, Germany, and Qatar, is launching its biggest-ever appeal for funds for a single country in hopes of collecting $4.4 billion to help Afghanistan, a decidedly ambitious call to assist the impoverished country again run by Taliban militants when much of the world’s attention is on Russia’s war in Ukraine.

Taiwan appoints working group to study Ukraine war tactics, discusses with the US

Taiwan’s defense ministry has set up a working group to study the tactics of the war in Ukraine, including how the country has been able to hold out against Russia and has been discussing this with the US, its defense minister said on Thu. Taiwan, which is claimed by Beijing as its territory, has raised its alert level since the Russian invasion, wary of Beijing possibly making a similar move on the island – although it has reported no signs this is about to happen. The possible impact of the war on mainland China’s military thinking on Taiwan, and how Beijing could attack the island, have been widely debated in official circles in Taipei.

China and Solomon Islands agree on wide-ranging security deal

The Solomon Islands on Thu said it had inked a wide-ranging security pact with Beijing, an agreement Western allies fear will pave the way for the first Chinese military foothold in the South Pacific. “Officials of the Solomon Islands and the People’s Republic of China have initialed elements of a bilateral security cooperation framework between the two countries today,” said a statement from the prime minister’s office in Honiara. The contentious agreement is now awaiting their foreign ministers’ signatures. The Solomon Islands is a sovereign country consisting of 6 major islands and over 900 smaller islands in Oceania, to the east of Papua New Guinea and northwest of Vanuatu. It has a land area of 28,400 km2 and a population of 652,858. In its campaign to isolate Taiwan diplomatically, China has been courting Solomon politicians with grant and aid overtures to drop Taipei and sign up to its Belt and Road Initiative, like Pacific island neighbors Fiji, Papua New Guinea, and Vanuatu.

China has almost done with airline crash search and rescue, working on the report

China has completed the main search and rescue work at the site of a China Eastern Airlines plane crash last week, and plans to complete a preliminary report within 30 days of the event, an aviation official said on Thu. A final report of the crash will be completed and made public after the investigation is concluded. The plane crashed into a mountainside in southern China on Mar 21, killing all 132 people on board. Zhu said authorities have done preliminary analyses of the crash, such as predicting the possible trajectory, position, and impact force of the airplane when it hit the ground and reading data from air traffic control radar systems.

The US calls Beijing’s pressure on Taiwan ‘a threat to all democracies’

Beijing’s diplomatic and military pressure on Taiwan represents a threat to all democracies and the US is committed to helping the island defend itself, the top US diplomat in Taipei said. Speaking at an American Chamber of Commerce in Taiwan event late on Wed, Sandra Oudkirk, director of the American Institute in Taiwan which handles relations in the absence of formal diplomatic ties, said managing US differences with China faces “distinct challenges”. “The PRC’s increasingly aggressive behavior is nowhere more evident than concerning Taiwan, where the PRC has continued to exert military, diplomatic and economic pressure,” she said, referring to the PRC, in remarks released by her office on Thu.

Ukraine Crisis: India to allow Russia to invest, borrow from the domestic market amid sanctions on Moscow

Russian Foreign Minister Sergey Lavrov who arrives for a 2-day official visit in India on Thu is expected to meet and hold talks with External Affairs Minister S Jaishankar on Fri. Meanwhile, the U.S. and Australia criticized India for considering a Russian proposal that would undermine sanctions imposed by America and its allies, showing a deepening rift between the emerging security partners as Foreign Minister Sergei Lavrov traveled to Delhi for talks. 

During Lavrov’s trip, India is also hosting U.S. Deputy National Security Advisor for International Economics Daleep Singh and U.K. Foreign Secretary Liz Truss.

Her office said she “will point to the importance of all countries reducing strategic dependency on Russia at this time of heightened global insecurity.”

  • Now is the time to stand on the right side of history …and not funding and fueling and aiding President Putin’s war,” Commerce Secy Gina Raimondo told reporters in Washington on Wed.
  • She called reports of the arrangement “deeply disappointing,” while adding that she hadn’t seen details.
  • Australia’s trade minister, Dan Tehan, also said it was important for democracies to work together “to keep the rules-based approach that we’ve had since WWII.”
  • The comments reflect growing unease with India among fellow members of the Quad, a group of democracies seeking to counter China’s assertiveness in the Asia-Pacific region.
  • India is the world’s largest buyer of Russian weapons and has also sought to buy cheap oil as fuel prices surge.

This is the first trip, Lavrov, to India since Moscow’s invasion in Ukraine.

  • The Russian Foreign Minister is expected to arrive in New Delhi this evening after concluding his two-day China visit.
  • Lavrov’s visit comes soon after China’s foreign minister Wang Yi visit to India last week and ahead of the 2+2 dialogues set to be held between India and the US on April 11.
  • Meanwhile on Wed, in China, Lavrov held talks with his Chinese counterpart Wang Yi and both sides pledged to strengthen bilateral ties.

Lavrov informed the Chinese side, of the Russia-Ukraine talks, that Russia is committed to easing the tensions, continuing peace talks with Ukraine, and maintaining communication with the international community.

  • Lavrov participated in two multinational meetings on the ‘Taliban” in China along with representatives from Pakistan, Iran, Tajikistan, Turkmenistan, and Uzbekistan.
  • Lavrov also held meetings with representatives from China and Pakistan and attended a separate meeting of the “Extended Troika” with special Afghan envoys from China and the US.

Sanctions on Russia – Russia has been hit by multiple sanctions following its military operations in Ukraine. The US, the EU, the UK, and Canada have banned certain Russian banks from SWIFT, the high-security network that facilitates payments among 11,000 financial institutions in 200 countries. Germany has also halted certification of the ‘Nord Stream 2’ gas pipeline.

  • However, India in line with its old ties and friendly relations will allow Moscow to invest and borrow in the domestic market.
  • Amid the sanctions, India allowed Russia to invest in Indian corporate debt funds that could help Moscow.
  • This can be seen as a return gesture for the Russian offer to sell oil to India at a whopping 25 to 30% discount.
  • Energy-starved India has already begun to avail of this facility and build enough buffer stocks.

Equally important is the Indian decision, to allow Russia to pay for these investments through a Reserve Bank of India (RBI) account that has existed since the collapse of the Soviet Union 3 decades ago.

  • Funds have accumulated pending payments for defense purchases made from Moscow.
  • There is thus an element of a quid-pro-quo.
  • India is drawing lessons from the past dealings with Iran, another sanction-hit friend.
  • Iranian oil imports were brought down to zero some years ago after the US made it difficult for monetary transactions with Tehran.
  • Among other areas, Russia will be allowed to invest in debt securities.

Reports say that the Russian officials have asked their Indian counterparts to relax India’s External Commercial Borrowing framework, which would allow Russia to invest in bonds of Indian companies, and pay for these investments through an account with the RBI.

  • The RBI account has an accumulated balance of Rs 2,000 crore from pending payments for defense purchases made from Russia, according to media reports.
  • ‘Masala bonds’ are rupee-denominated bonds issued overseas by Indian companies.
  • They are debt instruments that help companies raise money in India’s currency from foreign investors.
  • Both government and private entities can issue these bonds.
  • The proposed arrangement is a response to pressures at the economic level, when global oil prices are rising, with their imports having a negative cascading effect on the Indian economy.
  • India abstained from UN votes on the Ukraine crisis, calling instead for an “immediate cessation of violence“, and emphasizing dialogue as the way out of the dispute.

NSA Doval discusses the Ukraine war and its fallout with his Dutch counterpart

National Security Advisor Ajit Doval on Thu met Geoffrey Van Leeuwen, the security and foreign policy advisor to the Dutch prime minister Mark Rutte in New Delhi.

  • Both security advisors had intense discussions on a wide range of bilateral issues and global developments including the situation in Ukraine.
  • During the meeting, Doval and Leeuwen discussed the recent geopolitical events in their respective regions.
  • Both the officials underlined the importance of India and The Netherlands to remain engaged on these issues and intensify their contacts, including through policy dialogues on issues of mutual interest.
  • The two also agreed to strengthen further the partnership between the two countries by expanding ongoing defense, security, and counter-terrorism cooperation.

At the peak of the Ukraine war, Prime Minister Narendra Modi had spoken to his Dutch counterpart Mark Rutte over the situation in Ukraine and briefed the evacuation carried out to rescue the Indians and also about India’s humanitarian relief to the war-hit country.

  • This year marks the 75th anniversary of the establishment of bilateral relations between India and the Netherlands.
  • President Ram Nath Kovind is embarking on a state visit to The Netherlands from April 4 to 7 at the invitation of the king and queen of the country.

India is an important partner in trade, space says Mexico Foreign Minister Ebrard

Mexico Foreign Minister Marcelo Ebrard Casaubónan, who is on an India visit, has termed the country an “important partner” in trade and space.

  • This is the first visit of Marcelo Ebrard Casaubón to India in his capacity as foreign minister, during which he will also visit Mumbai with a big delegation. 
  • Speaking to WION Ebrard said, “We have the opportunity for cooperation with India, with production and (scientific) investigation” when it comes to joint production of Covid vaccines. 

He added we have a huge opportunity to increase our relationship with pharmaceuticals, medicines, Learning from the lessons of the pandemic we collaborate with both countries successfully. To expand in this positive experience in this field, also in other fields.

  • Already India is the 9th largest trading partner of Mexico in the world.
  • The visit of Ebrard follows EAM Jaishankar’s visit to Mexico City in Sept last year.
  • Currently, Mexico is India’s second-largest trade partner in Latin America and is a non-permanent member of the UNSC alongside India for the period 2021-22. 

On the Russian invasion of Ukraine, the minister said, “We condemn the invasion, it’s an invasion, we are proposing a political solution, to look for a political solution and not to corner each other.”

Nepal PM’s India visit reflects age-old New Delhi-Kathmandu friendship

Nepal’s Prime Minister Sher Bahadur Deuba’s official visit to India from April 1 to 3 reflects Delhi and Kathmandu’s old friendship which flourished back in 1950 when both countries came together and signed the India-Nepal Treaty of Peace and Friendship.

This treaty was the beginning of everlasting peace and friendship between the two governments and their unique relationship of friendship can be characterized by open borders and deep-rooted people-to-people contacts of kinship and culture.

  • According to the data from 2014, around 6,00,000 Indians are living or domiciled in Nepal while nearly 8 million Nepalese citizens live and work in India.
  • During the 18th South Asian Association for Regional Cooperation (SAARC) Summit, India emphasized developing the regional hydro potential, grid connectivity, and gas pipelines.
  • Earlier, in 1971, both the countries had a Power Exchange Agreement to meet the power requirements in the border areas of the two countries.

Not only in electricity, but in the time of coronavirus also when the entire world was struggling to get the vaccination for their people, India handed over 1 million vaccines to Nepal ‘Neighbourhood First’ policy.

Further, India and Nepal are working together to build the Kathmandu-Raxaul railway line, which was signed in the year 2021, that would link Kathmandu with the Indian border town of Raxaul in Bihar.

  • The Buddhist circuit train already in place covers the important destinations connected to the life of Buddha in India and Nepal over eight days.
  • New Delhi not only help India to grow economically or in energy regions but also assist during the earthquake.
  • Earlier, India had pledged 1 billion US dollars as support for earthquake reconstruction; one-fourth of it was committed as grant assistance to be utilized for health, cultural heritage, housing, and education sectors. (1)

[ NEIGHBORHOOD ]

No-confidence vote: Fearing ouster, Imran Khan offers to dissolve the assembly

Pakistan Prime Minister Imran Khan has reportedly offered to dissolve the assembly on the condition to withdraw the no-confidence motion against him, a local media report said on Friday. Imran Khan has said that if the Opposition doesn’t agree to his suggestion, he is ready to face any situation, Geo News reported Thursday, citing sources. An “important personality” has given a message of Imran Khan to the Leader of the Opposition in the National Assembly Shahbaz Sharif, the report added.

Crucial NA session today to debate no-trust motion against PM Imran

The National Assembly (NA) is scheduled to assemble today at 4 pm for a crucial session during which a debate on the no-confidence motion against Prime Minister Imran Khan will be held.

The resolution against the embattled premier was tabled by the Leader of the Opposition in the NA Shehbaz Sharif on Mar 28 and it was approved for debate the very same day.

According to a 24-point agenda of the session today, the debate on the no-trust motion against the PM is fourth in order.

Yesterday, Information Minister Fawad Chaudhry said Prime Minister Imran Khan had decided to present a ‘secret letter’ — purportedly containing details of a “foreign conspiracy” to topple his government — during an in-camera session of the NA or a joint session of parliament, however, no date for when such a session would be called was given.

Sherry calls for voting today –Meanwhile, PPP Senator Sherry Rehman on Thu said the NA speaker had no “constitutional” or “moral” justification to delay voting on the no-trust motion and demanded that it be held today.

Imran Khan’s options fade as Pakistan’s opposition gains support

Pakistan PM Imran Khan’s fight for political survival is getting tougher as the opposition appears to have garnered the numbers it needs to oust him from office, ahead of a debate in parliament on a no-confidence vote. The joint opposition had cobbled together 196 lawmakers by Wed evening, well above the 172 needed to vote out the former cricket star.

Imran Khan was advised by Pak Army not to address the nation

Pakistan prime minister Imran Khan deferred his address to the nation amid the political turmoil in the country. According to inputs received from diplomats in Islamabad, Army chief General Bajwa with his ISI deputy advised PM Khan against addressing the nation as it would vitiate the atmosphere in the country and could cause law and order problems. 

Ties with China are termed the cornerstone of Pakistan’s foreign policy

Foreign Minister Shah Mahmood Qureshi and Chinese State Councilor and Foreign Minister Wang Yi met here on Wed and discussed various issues of regional and international importance. He also held separate meetings with his Russian, Iranian and Afghan counterparts Sergey Lavrov, Dr. Hossein Amir Abdollahian, and Amir Khan Muttaqi.

Qureshi-Lavrov meeting: Meanwhile, Qureshi also met his Russian counterpart Sergey Lavrov and expressed the hope that talks between Russia and Ukraine would succeed in finding a diplomatic solution to the war in Ukraine.

  • Qureshi shared Pakistan’s position on Ukraine’s crisis including cessation of hostilities, provision of humanitarian assistance, and efforts for a solution through dialogue.
  • The foreign minister conveyed Pakistan’s readiness to reinforce efforts for a diplomatic solution including through the OIC platform.

Talks with Iran’s FM: Qureshi also met Abdollahian and referred to frequent high-level exchanges between Pakistan and Iran and reaffirmed Pakistan’s desire to strengthen bilateral cooperation in all areas.

He also underscored the importance of the earliest completion of border markets for enhanced bilateral economic cooperation.

Qureshi briefed Dr Abdollahian on the unprovoked violation of Pakistan’s airspace by an Indian supersonic missile and said such actions were fraught with grave implications and represented a serious threat to regional peace and stability.

Qureshi also met Afghan Interim FM Amir Khan Muttaqi.- He reaffirmed Pakistan’s full support for a peaceful, stable, and prosperous Afghanistan and highlighted areas of close collaboration including trade, movement of people, and connectivity.

  1. https://aninews.in/news/world/asia/nepal-pms-india-visit-reflects-age-old-new-delhi-kathmandu-friendship20220331104702/

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