Posts

Showing posts with the label oil

Biden’s Strict Words Backfire From Saudi Arabia As Arrogant Retort

Image
Biden in pressure from Democrats and Republicans as they both threaten to dishevel relations with the Kingdom which has already retorted in a strict tone Image courtesy: www.scotfree.com The Saudi Prince is not taking a threat from the US lying down as he has responded telling the White House that any kind of threat of violence will not be taken lightly in the Kingdom. “Anybody that challenges the existence of this country and this kingdom; all of us, we are products of jihad, and martyrdom,” Saudi Prince Saud al-Shaalan, who is married to one of the grandaughter's of the late King Abdulaziz Al Saud, said in a video that was posted to Twitter Saturday. “That's my message to anybody that thinks that it can threaten us.” King Abdulaziz Al Saud founded Saudi Arabia. The arrogance and superiority of everyone is evident in the above statement. The US was sending off a warning message after it felt the Kingdom had sided with Russia in deciding to cut down its oil production qu...

Will Japan Do Away With Russian Oil Imports Completely?

Image
The Asian country which had not taken sides till now, is finally doing so. Japan has now said that it intends to phase the country out of using Russian oil, in a bid to join hands with the G7 nations in their fight against Russia’s war with Ukraine. The humanitarian crises have not been taken very well by anyone in the West. Literally every nation has protested against the humanitarian disaster created by Kremlin in Ukraine and its various cities. The devastation is horrid. On the weekend, leaders from the G-7 countries met online and announced their commitment to ban or phase out Russian oil imports in their latest effort to pressure Moscow into ending its aggression on Ukraine. “It’s an extremely difficult decision for a country that mostly relies on energy imports, including oil,” the Japanese PM Fumio Kishida told reporters the next day. Adding on to his conversation, he said, “G-7 unity is most important right now.”  Kishida said it will be a gradual and slow process of ...

What Has Plummeted Sri Lankan Economy?

Image
 Sri Lankan economic crises is not getting any better by the passing day. Residents are now reeling under severe power cuts, shortage of medical equipment and medicines to name a few issues facing the country. What has led to this mayhem is a critical lack of foreign currency that has crippled their economy, forcing them to miss out of payments for vital imports, leading to dire shortages in everything from life-saving medicines to cement. Troubled over long lines for fuel that start forming before dawn, Sri Lankans are now complaining bitterly about government mismanagement and are fretting over how to feed their families as food prices skyrocket. Meanwhile, India has come to their rescue, as hospitals are going without medicines and facing medical crises. Indian Ministry of Foreign Affairs are already reached out to Sri Lankan government offering help in life saving surgeries. Many hospitals have suspended surgeries due to lack of medicines in Sri Lanka. Trucks at the por...

India Gets Sri Lanka On Its Side With Oil Loan Worth $500 Million

Image
India now seems to be in a position of handing off loans as it helps Sri Lanka in its darkest hour (literally). With reeling power cuts and shortage of oil, the country has been troubled over scarce electricity. The island has now secured a $500 million loan from India to save its sinking economy. Indeed, the island is looking cash strapped.   No wonder, this has left their thermal power generators dry, with the country finding it difficult to keep the lights on, disrupting transport networks as well. Even traders are seen running desperately low on foreign currency to fund imports. The country still uses fossil fuels to fire its thermal power plants. There have been frequent breakdowns at a huge coal power plant too. Blame it on lack of coal supply as well. So, the unannounced electricity power cuts and understandable. Even cooking gas and kerosene is not easily available to households. Officials said a formal agreement was being signed after two weeks of talks, in addition ...

Why Chinese Association With Iran Could Be A Matter Of Concern?

Image
China's closeness to Iran could be a matter of great concern to the rest of the world   China continues to look all gracious ways of keeping nations involved but can exit at any point of time it wishes.   Iran should feel happy that $400 billion deal is coming their way. But it could be retracted at any point of time. This move comes at a point when China is suddenly wishing to get into the good books for Middle East nations.  A recent trip was made by China’s Foreign Minister Wang Y comprised UAE, Bahrain, Saudi Arabia, Oman, Turkey and Iran. However, the most critical part of Wang’s Middle East jaunt was the stopover in Iran. The foreign minister is the first top ranking official to visit Tehran since President Xi Jinping’s visit in 2016 when the two sides signed a comprehensive strategic partnership agreement. China has signed a 25 year long treaty to help the bleeding nation. In return, it will get oil and gas access, a commodity that Iran has been desperat...