Latest news with #Russian-linked
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Business Standard
2 days ago
- Business
- Business Standard
Microsoft restores services to Nayara Energy after EU sanctions dispute
Microsoft has resumed its services to Nayara Energy, a Russian-linked Indian oil refining company, after briefly cutting them off due to fresh European Union sanctions, news agency Reuters reported. The update was shared in a New Delhi court by Nayara's lawyer, who confirmed the tech giant had restored access following a legal appeal by the company. Microsoft had suspended services after the EU introduced new sanctions on July 18 targeting Russia's energy sector. These measures also impacted Nayara, which is partly owned by Russian oil major Rosneft. The service cut caused major disruptions at Nayara's Vadinar refinery in Gujarat, which processes 400,000 barrels of oil per day. Due to limited fuel storage and pressure from shipping partners, Nayara was forced to scale down its operations. Following the disruption, Nayara approached a New Delhi court seeking an order to restore Microsoft's services. The company argued that its staff had lost access to official emails and important company data needed for daily work.
Time of India
2 days ago
- Business
- Time of India
Value of India's crude imports from Russia surges significantly at a CAGR of 96% during FY20-FY25: Report
New Delhi: India's oil and gas sector is undergoing a strategic transformation amid a fast-changing global landscape marked by shifting alliances, sanctions, and rising geopolitical uncertainty, according to the recent Rubix Industry Insights report. In a significant shift, Russian oil now dominates India's crude basket, accounting for about 35 per cent of total imports in Financial Year (FY) 2025, it was mere just 2 per cent in FY2020. The value of these imports has surged at a 96 per cent of compound annual growth rate (CAGR) over the past five years. This rebalancing is driven mainly by cost advantages and alternative transport routes that bypass the volatile Strait of Hormuz. Meanwhile, the share of Middle Eastern suppliers has fallen, prompting geopolitical and commercial recalibrations. Now, with the US pushing for steep tariffs on Russian-linked petroleum exports and the EU tightening its sanctions regime, India is taking steps to protect a significant share of its petroleum product (POL) exports, valued at 44.4 billion in FY25. India has emerged as the seventh-largest exporter of refined petroleum products, with the Netherlands, UAE, and Singapore as key markets. On the supply side, India is the world's third-largest crude oil importer, with demand projected to rise from 5.64 million barrels per day in 2024 to 6.66 million bpd by 2030. However, domestic production continues to decline, dropping from 32.2 MMT in FY2020 to 28.7 MMT in FY2025. As a result, India's crude import dependency has reached 88.2 per cent. Refining capacity, however, has expanded modestly to 257 MMTPA across 23 refineries, making India the world's fourth-largest refining hub. The government aims to increase this to 309.5 MMTPA by 2030, backed by major investments from state-run firms like IOCL , BPCL , and HPCL . Natural gas, another critical pillar, saw demand reach 71 BCM in FY2025, with 50 per cent met through LNG imports. The US has overtaken the UAE as India's second-largest LNG supplier, aided by lifted export bans and long-term contracts. India plans to double its share of gas in the energy mix to 15 per cent by 2030, supported by pipeline expansion and regasification projects. Government initiatives have also propelled reforms in upstream exploration. Under the Hydrocarbon Exploration and Licensing Policy (HELP), the 10th OALP round offered 25 new blocks, and the Special CBM Round targeted unconventional gas extraction. These efforts are supported by updated regulations and policies aimed at attracting investment. The report notes that India's clean energy push is gaining traction. The Pradhan Mantri Ujjwala Yojana ( PMUY ) has expanded LPG access to over 103 million households, while ethanol blending touched 20 per cent in early 2025--six years ahead of schedule. City gas distribution is also being ramped up, aiming to cover 70 per cent of the population. However, challenges remain. Price volatility, US sanctions on Russian oil, and lagging domestic output pose persistent threats. The report warns that refinery capacity additions have lagged behind targets, and Middle East tensions could disrupt crucial supply lines.
Time of India
2 days ago
- Business
- Time of India
Value of India's crude imports from Russia surges significantly at a CAGR of 96% during FY20-FY25: Report
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India's oil and gas sector is undergoing a strategic transformation amid a fast-changing global landscape marked by shifting alliances, sanctions, and rising geopolitical uncertainty, according to the recent Rubix Industry Insights a significant shift, Russian oil now dominates India's crude basket, accounting for about 35 per cent of total imports in Financial Year (FY) 2025, it was mere just 2 per cent in FY2020. The value of these imports has surged at a 96 per cent of compound annual growth rate (CAGR) over the past five rebalancing is driven mainly by cost advantages and alternative transport routes that bypass the volatile Strait of Hormuz. Meanwhile, the share of Middle Eastern suppliers has fallen, prompting geopolitical and commercial with the US pushing for steep tariffs on Russian-linked petroleum exports and the EU tightening its sanctions regime, India is taking steps to protect a significant share of its petroleum product (POL) exports, valued at USD 44.4 billion in has emerged as the seventh-largest exporter of refined petroleum products, with the Netherlands, UAE, and Singapore as key the supply side, India is the world's third-largest crude oil importer, with demand projected to rise from 5.64 million barrels per day in 2024 to 6.66 million bpd by domestic production continues to decline, dropping from 32.2 MMT in FY2020 to 28.7 MMT in FY2025. As a result, India's crude import dependency has reached 88.2 per capacity, however, has expanded modestly to 257 MMTPA across 23 refineries, making India the world's fourth-largest refining hub. The government aims to increase this to 309.5 MMTPA by 2030, backed by major investments from state-run firms like IOCL BPCL , and HPCL Natural gas, another critical pillar, saw demand reach 71 BCM in FY2025, with 50 per cent met through LNG US has overtaken the UAE as India's second-largest LNG supplier, aided by lifted export bans and long-term plans to double its share of gas in the energy mix to 15 per cent by 2030, supported by pipeline expansion and regasification initiatives have also propelled reforms in upstream exploration. Under the Hydrocarbon Exploration and Licensing Policy (HELP), the 10th OALP round offered 25 new blocks, and the Special CBM Round targeted unconventional gas extraction. These efforts are supported by updated regulations and policies aimed at attracting report notes that India's clean energy push is gaining traction. The Pradhan Mantri Ujjwala Yojana ( PMUY ) has expanded LPG access to over 103 million households, while ethanol blending touched 20 per cent in early 2025--six years ahead of schedule. City gas distribution is also being ramped up, aiming to cover 70 per cent of the challenges remain. Price volatility, US sanctions on Russian oil, and lagging domestic output pose persistent threats. The report warns that refinery capacity additions have lagged behind targets, and Middle East tensions could disrupt crucial supply lines. (ANI)
Business Insider
04-07-2025
- Business
- Business Insider
UN report reveals involvement of Russian-linked firm in DRC's illicit mineral trade
A new United Nations report has for the first time publicly identified a Russian-linked company operating in Rwanda as being complicit in the illicit trade of minerals sourced from conflict zones in the Democratic Republic of Congo. The United Nations has directly linked an entity to the trade of conflict minerals from zones in the Democratic Republic of Congo. Boss Mining Solution, operated by Rwandan businessman and linked to two Russian owners is accused of acquiring conflict minerals from M23-controlled areas. Rwanda disputes the UN findings, arguing that its military involvement in border regions addresses security threats rather than exploiting mineral resources. Reuters reports that the allegation against the mining company marks the first time the United Nations has named an entity allegedly complicit in trafficking minerals looted from the Democratic Republic of Congo since M23 insurgents seized key mining territories last year. The confidential UN report, which details how the recent territorial gains by M23 have further destabilized a region already plagued by decades of conflict, identified Boss Mining Solution as a key player in the smuggling of minerals from rebel-held areas. The report reveals that Boss Mining acquired coltan and other minerals from M23-controlled areas. Miningmx reports that the company exported at least 150 tons of coltan worth $6.6 million in 2024, making it Rwanda's sixth-largest exporter, despite the country having minimal coltan production. According to the company's corporate profile reviewed by Reuters, Boss Mining is operated by Eddy Habimana, a Rwandan businessman. The firm is also linked to two Russia-born mining executives, who are listed as owners in official Rwandan corporate documents. Rwanda government spokesperson Yolande Makolo, however, rejected the report, telling Reuters that the UN account ' misrepresents Rwanda's longstanding security concerns' regarding Hutu rebel groups that have targeted ethnic Tutsis in both Rwanda and Congo—a threat, she said, that ' necessitates the defense posture in our border areas.' The UN panel's findings suggest that Boss Mining Solution played a key role in the cross-border trafficking of these minerals, despite longstanding international bans on sourcing commodities from insurgent-controlled zones. Conflict minerals strain Rwanda-DRC relations Tensions between the Democratic Republic of Congo and Rwanda, rooted in historic grievances and cross-border insurgencies, have been increasingly driven by the illicit trade in conflict minerals. Eastern Congo's vast deposits of gold, coltan, tin, and tantalum have attracted armed groups and fueled instability. Rwanda denies backing M23 rebels, but the group, widely believed to have Kigali's support, has seized major mining areas, disrupting supply chains and worsening the humanitarian crisis. The UN and global watchdogs have heightened scrutiny. Proceeds from the mineral trade have played a crucial role in financing M23's insurgency.
Yomiuri Shimbun
12-06-2025
- Politics
- Yomiuri Shimbun
Social Media and Elections: Politics Today / Japan Needs to Prepare for Foreign Interference in Polls; Constitutional Reform Referendums a Likely Target
The Yomiuri Shimbun A collage of images taken at political gatherings This is the third and final installment in a series that examines how political parties understand and are dealing with the confusion caused by social media during elections. *** Loud cheers broke out among Romanian voters on the morning of May 18, when a presidential election candidate appeared at a polling station in the suburbs of Bucharest. But the focus of the attention on the day of the runoff for the country's presidential poll was not the candidate but the man standing next to him, Calin Georgescu. The venue was plunged into frenzy as excited supporters chanted 'President Georgescu!' Far-right, pro-Russian Georgescu came from nowhere to win the first round of an election in November last year, aided mostly by a flood of TikTok videos promoting his campaign. Through the short videos, Georgescu amassed support from people dissatisfied with the government. But the Romanian constitutional court annulled the election after intelligence authorities and others disclosed confidential documents revealing about 25,000 fake social media accounts with confirmed links to Georgescu's campaign and that about $380,000 (¥55 million) had been paid to more than 100 influencers involved in the propaganda activities. Russia's involvement was also suspected, leading to Georgescu being barred from running in the presidential election rerun held in May. While large-scale foreign interference in elections has not yet been confirmed in Japan, it is a growing possibility. 'Efforts to influence public opinion in Japan via the internet are being carried out. A Russian-linked news agency had been manipulating influencers and spreading posts using bots,' a former high-ranking government official said. While not providing details, the former official said that U.S. authorities informed Japan several years ago that it was a target of Russia's intervention in elections. Subsequent investigations found relevant pro-Russian activities online, and the situation was reported to the Prime Minister's Office. The threat is not limited to elections. In Britain, Russian or Iranian interference in the 2016 Brexit referendum was alleged. In Japan, referendums on constitutional reform could be a target. 'If their primary goal is to divide public opinion, referendums on constitutional reform serve as the perfect target,' said Keiro Kitagami, an independent member of the House of Representatives. 'Japan has been protected from such interventions thanks to the language barrier, but now that translation systems have become so sophisticated, we need to be aware of the danger.' Constitutional amendment being freely and openly debated on both sides is desirable. It is common knowledge among political parties that the expression of opinions should be 'as free as possible with minimal restriction.' However, such lax regulations and a high possibility of intense debate on the issue leave a lot of room for foreign forces to exploit the situation. Concerns were raised at a meeting of the House of Representatives' Commission on the Constitution on April 10, where the issue of how to deal with false and misleading information on social media in the event of a national referendum was discussed. Many participants said it is important to strengthen fact-checking measures. 'We must resolutely prevent foreign forces from interfering in referendums through fake news,' said Keishi Abe of the Japan Innovation Party. At a meeting of the commission on May 22, J. F. Oberlin University Prof. Kazuhiro Taira said he expects the active involvement of the mass media in fact-checking efforts. He added that the efforts should be led by the private sector rather than public institutions. There are many other issues that need to be addressed, including measures to prevent the monetization of social media under the guise of election campaigns and placing more responsibility on platform operators. In order to safeguard the integrity of speech, the Diet has only just begun to move its heavy feet. (This series was written by Koichiro Shigematsu, Maki Sanbuichi, Takahito Higuchi and Yumiko Kurashige.)
