Khamenei's First Public Appearance on Ashura After Iran-Israel War
Khamenei's First Public Appearance on Ashura After Iran-Israel War | Vantage with Palki Sharma
Iranians on July 6 marked Ashura by mourning the death of Prophet Muhammad's grandson Imam Hussein during the Battle of Karbala. Iranian Supreme Leader Ayatollah Khamenei made his first public appearance after the end of the 12-day war with Israel as he attended prayers at a mosque in Tehran ahead of Ashura processions.
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Hans India
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- Hans India
Initiatives like IMEC needed especially in times of volatility, uncertainty: Italy's envoy Talo'
New Delhi: The ambitious India-Middle East-Europe Economic Corridor project was started with a "lot of hope" and such initiatives are needed especially in times of volatility and uncertainty driven by global security challenges, Italy's envoy for IMEC, Francesco Talo' said. In an exclusive interview to PTI Videos at the Italian Embassy here on Wednesday, he also said that less than a month after its launch in New Delhi in 2023, there was a "terrible attack" against Israel on October 7, and this impacted the project. "Therefore, things were slipping, frozen. But, now there is a renewed interest," the envoy said. The Israel-Hamas conflict still goes on, and the Middle East (or West Asia) region has seen wide-scale volatility and uncertainty over the last two years, including the recent twelve-day military confrontation between Israel and Iran in June. "I would say that especially in times of volatility or uncertainty, we need projects like this (IMEC). We need to have a differentiation. We need to be ready to play on different grounds. So, not to be conditioned only by one route, by one interlocutor," Talo' told PTI in the interview. Cautioning that in times of great inter-dependence today, he underlined that one needs to be on one hand "not too dependent" on any one option, and on the other hand, need to live in a system of inter-dependence. Talo', a seasoned diplomat, visited India earlier this week to take part in a meeting of representatives of countries which are partners in the IMEC initiative. He also met India's deputy National Security Advisor. "I have had meetings with part of the administration, especially with people in the National Security Council and the external affairs ministry. And I'm planning to meet other people today (Wednesday) in order to better understand the importance of our partner India," he added. So it's good that in this very city, the "first meeting" among the special envoys of IMEC was held, the diplomat said. "I was here when the initiative was launched in September 2023. I was with my Prime Minister Giorgia Meloni. And, we had a clear vision of a great opportunity for our countries, for our shared interests," Talo' said, adding, IMEC was started with a "lot of hope" and it was very much linked to the idea of having important political and economic results. And, this is the moment really to have a "transition" from a phase of conferences, interviews, and some public events to a "more concrete phase of action", he asserted. Billed as a pathbreaking initiative, the IMEC envisages a vast road, railroad and shipping networks among Saudi Arabia, India, the US and Europe with an aim to ensure integration among Asia, Middle East and the West. The IMEC initiative was firmed up on the sidelines of the G20 Summit in Delhi in September 2023. An agreement was signed by India, Saudi Arabia, the European Union, the United Arab Emirates (UAE), the US and some other G20 partners for the corridor. EU signatories Italy, France, and Germany are partners in this transnational connectivity project. Many strategic affairs watchers have described the IMEC as perhaps an answer to China's massive Belt and Road Initiative (BRI), a mega infrastructure and connectivity project that will involve a large number of countries. Asked about his views on BRI, Talo' described it as "another project" and different from IMEC. "They are different by nature. Their members are different. So, I don't want to.. I don't like the idea of presenting IMEC as something against them. It's something for us, for our partners, for our peoples. And, then there can be other initiatives," he said. Italy had joined BRI in 2019. According to international reports, it had announced its withdrawal from it, four years later. Talo' emphasised that when it comes to realising the IMEC vision, there are financial challenges and practical infrastructure challenges. "It involves several countries. We all know that it's not going to be simple," he said. "But it could be a great opportunity, because we see great prospects of growth for all of us," the envoy said. Talo' underlined that one cannot have real security and peace "when only one nation is rich". There is need for entire region to grow, and of course innovation can somehow be the lead for these changes for the better. "We are already seeing this in India," he said. The Gulf countries are also important protagonists, actors in innovation. "We can do it all together, and this will also benefit countries which have more problems," the envoy said, adding, this can somehow also "contribute to the peace process". During the interaction, he also shared the reasons for Italy pitching its coastal city of Trieste as a "possible principal hub" in this corridor. Also, India, the Middle East, and at least Italy and the Mediterranean countries in the same region, which "I like to call the Indo-Mediterranean region, we have a common interest that is an area of growing prosperity where, for instance, navigation and trade is free and open", Talo' said. Italy, along with three other IMEC partner countries are also part of the powerful G7. "Of course, the G7 countries can offer a contribution... Furthermore, I think it's important to take into account the role of the European Union with its Global Gateway initiative. So, the idea is that IMEC can be put under the umbrella of the Global Gateway," he said. In November 2024, External Affairs Minister S Jaishankar, in his address, on the occasion of inauguration of the new Chancery of the Embassy of India in Rome, had referred to the proposed India-Middle East-Europe Economic Corridor (IMEC). The minister had said that this connectivity corridor, which was agreed to in principle during India's presidency of the G20, will be a game changer between Europe and Asia.
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Hindustan Times
an hour ago
- Hindustan Times
If America goes after India's oil trade, China will benefit
WHEN WESTERN countries began boycotting Russian oil in 2022, India saw an opportunity. Some 2.6m barrels a day (b/d) of crude once destined for Europe were available—at a sweet discount. India, which bought next to no oil from Russia in 2021, pounced. It has remained Russia's biggest customer ever since. Today it imports nearly 2m b/d of Russian 'sour', heavy crude, representing 35-40% of its crude imports. The supply reduces India's import bill at a time when the world's fastest-growing big economy burns ever more petroleum. Local refiners make a killing by processing the stuff into fuels that they then export at full cost. For three years Ukraine's allies did not object, and the strategy looked savvy. Now it is in jeopardy. Irked that Vladimir Putin is making no effort to end his campaign in Ukraine, on August 6th President Donald Trump slapped an extra 25% tariff on India, which he accuses of funding Russia's 'war machine'. A bill vowing levies of up to 500% on countries that buy Russian oil is making its way through Congress. Meanwhile, the European Union's 18th package of sanctions will ban refined products made from Russian crude in January. The tariffs will hurt but the bans lack bite. Indian refineries—other than those backed by Rosneft, a Russian oil giant—source most crude from outside Russia; they can argue their products are not made from Russian stuff even if there is some in the blend. That makes the EU ban hard to enforce. Mr Trump's hope is to bring down Russia's oil revenues in order to force Mr Putin to halt his offensive. Preventing Russian oil from reaching foreign markets, however, could push global prices up, which would be politically uncomfortable for America's president. All this might explain why the market remains calm. There is still potential for a storm. Unlike China, which imports 2m b/d from Russia, India does not have a history of defying American sanctions. When Uncle Sam pledged to penalise anyone buying Iranian oil during Mr Trump's first term, India swiftly complied. This time the White House is 'serious about pressuring India to go to zero', says a source familiar with its thinking. Placid markets may embolden Mr Trump. He could supplement his tariffs with threats that any bank, port or firm facilitating Russian sales will be cut off from American finance. What if he did? First, India would race to find new supplies. Its refiners have already reduced Russian orders by 40-50%, estimates a trader. In theory, Middle Eastern countries, which have 3.5m b/d in spare capacity, could provide additional help, along with producers from Africa and elsewhere. In practice, a lot of Gulf supply is already committed to East Asia through long-term contracts, and much is a lighter type than the 'Urals' for which Indian refiners would be looking. Russia, meanwhile, would struggle for buyers. Chinese refiners could absorb more oil, and the country's leaders have shown they can retaliate successfully against Mr Trump's tariffs, but they do not want to end up reliant on any single supplier. Such analysis dictates that, were America to insist on immediate compliance, global oil prices would jump, perhaps to over $80 a barrel. Mr Trump could not countenance that for long. Very soon he might introduce waivers phasing in the restrictions over six months, allowing markets to adjust—a repeat of 2018-19, when soaring prices in the wake of Mr Trump's sanctions against Iran forced America's president to soften his approach. An oil glut is expected early next year, which might accommodate tough-but-phased-in Russian sanctions. Given enough time, India would probably manage to replace most of its current Russian supply, albeit at a higher cost (Urals crude currently trades at a $5-10 discount to other comparable grades). The margins of Indian refiners would be crushed. As they retreated from the market, the winners would be their Chinese rivals, which have been restocking fast in recent months, giving them plenty of firepower. Being less exposed to American sanctions, they would also continue to buy Russian crude—at a growing discount.
