Russia’s invasion of Ukraine has revived Cold War sentiments and triggered a major realignment of the global economy, with India at the center of it all. In the first days of the conflict, the United States-led Western alliance imposed a slew of sanctions on Russia, including a ban on key Russian banks from the world’s … Read more
Following the Russian invasion of Ukraine, the United States, the European Union, and other countries around the world have imposed a wide range of sanctions on Russia, forcing Moscow to use Turkey and neighboring Central Asian countries to route trade of sanctioned goods. Many countries did not join the sanctions against Russia outright, but nevertheless … Read more
In late November, the World Bank published an economic analysis on the potential of the Middle Corridor to develop over the next decade. The report estimates that by 2030, travel times between the western border of China and Europe will halve, and freight volumes will triple to 11 million tons. This comes on the heels … Read more
When the leaders of EU countries gather in Brussels for a summit on December 14 and 15, they will turn to their two most trusted representatives for advice on whether to impose further sanctions on Chinese companies. European Commission President Ursula von der Leyen and European Council President Charles Michel have just returned from a … Read more
In his second visit to the countries of the region this year, EU Sanctions Envoy David O’Sullivan traveled to Kazakhstan and Uzbekistan this week. In Astana, he noted positive change. “We are grateful to the Kazakh authorities for decreasing the re-export of items, which are likely to end up in Russian military equipment,” he said. … Read more
U.S. authorities arrested a trio in New York late last month on allegations that the three operated a scheme to route millions of dollars worth of semiconductors, integrated circuits, and other dual-use electronic parts to Russia via front companies in Brooklyn. Brooklyn resident and dual Tajik-Russian citizen Salimdzhon Nasriddinov, 52, and married Russian couple Nikolay … Read more
Advertisement “An accident waiting to happen,” tweeted a senior analyst at Lloyd’s List Intelligence. Michelle Wiese Bockmann had spotted a cluster of 43 oil tankers jostling in international waters off the coast of Malaysia last November. The advanced age of the vessels (20 years on average), as well as their amorphous owners and unknown insurance status, … Read more
Advertisement Oil storage firms and traders operating in the Singapore Strait are reporting a rise in fuel suppliers blending and re-exporting Russian fuel, despite the European Union and Group of Seven nations’ designation of sanctions on fuel to economically pressure Moscow into ceasing its military aggression against Ukraine. Current sanctions include a ban on the … Read more
Crossroads Asia | Economy | Central Asia The cost of electronics and household appliances in Russia may increase by 10-12 percent due to new restrictions at the Kazakh border. Advertisement In recent months, customs controls in Kazakhstan have tightened, and the effects are starting to be felt in Russia. As Astana tries to avoid secondary sanctions, the country has … Read more