In News Recently, India called for a “peaceful resolution” of the situation (ongoing crisis between Russia and the West ) through “sustained diplomatic efforts” for “long-term peace and stability” in the region and beyond. Image Courtesy: Economist, BBC Background Ukraine and Russia share hundreds of years of cultural, linguistic and familial links. As part of […]
In News Recently, the United States House of Representatives unveiled the ambitious America Creating Opportunities for Manufacturing, Pre-Eminence in Technology, and Economic Strength Act of 2022( America COMPETES Act ). About America COMPETES Act of 2022 It proposes to open up new vistas for talented individuals from across the world with a new start-up visa. […]
In Context The Iran-backed Houthi rebels in Yemen claimed responsibility for the drone attack on three petroleum tankers in the United Arab Emirates (UAE). Why did the Houthis target the UAE? The UAE joined the Saudi campaign in 2015 and has been deeply involved in the conflict ever since, despite announcing the formal withdrawal of […]
In News Recently, the North Atlantic Treaty Organisation (NATO) and Russia discussed the ongoing situation in Ukraine and its implications for security in Europe. About These talks happened at the NATO-Russia Council (NRC) which took place at the NATO headquarters in Brussels. NRC is a forum for consultation with Russia on security issues and cooperation. […]
In News Recently, Sudan’s civilian Prime Minister (PM) resigned, plunging the country into further turmoil. Background The PM was sacked by the military in October 2021 and reinstated a few weeks later as part of a deal. Anti-military protests continue to rock the country. The protesters rejected the PM’s deal with the military and demanded […]
Context Russia’s Nord Stream 2 natural gas pipeline is ready for operation amid an energy crunch in Europe. About Nord Stream 1 project : Nord Stream is an offshore natural gas pipeline from Vyborg in the Russian Federation to Greifswald in Germany that is owned and operated by Nord Stream AG, whose majority shareholder is […]
In News Recently, a report stated that the tension on the Russia-Ukraine border represents a major security crisis for the region. About The crisis has the potential to convert into a broader conflict. Ukraine says that Russia has amassed around 90,000 troops at the border, and US intelligence reports say that a Russian invasion of […]
In News Recently, the European Commission has announced €300 billion for global infrastructure to rival China. Global Gateway Plan About: The European Commission has announced the Global Gateway plan to mobilise €300 billion ($340 billion) between 2021 and 2027 in public and private infrastructure investment around the world. Global involvement: The plan is global in […]
In News Recently, India and USA agreed on a transitional approach on Equalisation Levy 2020. About India and United States joined 134 other members of the OECD/G20 Inclusive Framework (including Austria, France, Italy, Spain, and the United Kingdom) in reaching agreement on the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from […]
In News India plans to release crude oil from its emergency stockpile to cool international oil prices. Rationale Behind This Step The decision has come after the US has urged some of the world’s largest oil-consuming nations, including China, India and Japan to release crude oil from their respective reserves in order to bring down […]
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