'Western Sanctions Have Not Hit All Russian Entities, Eventually These Will'

NEW DELHI: The economic destabilisation caused by Russia's decision to invade Ukraine are there to see. From rising fuel and fertilizer prices to the shortage of food grain. Yet, the reverse is also true, argues P S Raghavan, Chairman of the National Security Advisory Board and former ambassador to Russia.

In this chat on The Gist, Ambassador Raghavan points to Russian oil finding new markets in Asia, and Europe and the US continuing to buy refined petroleum products derived from discounted Russian crude sold to India. In the process, West Asian oil suppliers have hiked rates as European customers flocked to them.

The war has also busted the myth about Russia's collapse, Raghavan says. If anything, the economy is doing well and the rouble has even strengthened. Of course, sanctions will bite eventually but it's interesting to see how many Russian banks remain outside the sanctions regime, or how some Russian oligarchs travel the world despite sanctions.

India, in his view, has played its cards well, underscoring how it has no quarrels with Russia, Ukraine or Europe and America. But it's decision not to condemn Russia's invasion of Ukraine and maintain ties with Moscow is driven by hard calculation of where its interests lie.

Tune in for more in this conversation with P S Raghavam, Chairman of the National Security Advisory Board.
#india #russia #ukraine #nato

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[AshB-wjtg]

Surya G is by far the best interviewer on any media (paid or unpaid). He brings subject matter experts, asks pointed researched questions and then keeps quiet. Just top class! Nitin and Amitabh, something to note ;)

[repealsectionforbigtech]

excellent discussion, good questions and an expert's response

[namasteankit]

Russia secured water supply to Crimea and also created a land corridor to Crimea. They have also captured the entire Azov Sea. In Russian media, these were listed as some of the military achievements by Russia.

[rakadus]

Need to back points with data. For example, change in direction of energy flows.

[namasteankit]

In a resource-hungry (oil, fertilizer, metal) future, Russia is going to play a dominant role. Russia is a resource-rich nation and we need those resources for our economic growth. Even western countries need those resources but they somehow using it through 3rd party (India, China, Turkiye). Regarding the sanctions, many foreign companies continue to do business with Russia. The import-export is now done through countries around Russia like Armenia, Kazakhastan, China, Azerbaijan, Georgia. Unless, the western powers impose secondary sanction on the whole planet, Russia will continue to thrive.

[n]

can Indian government and business leaders form a trade group to explore export opportunities in Russia?

[Drkp]

I still don’t understand what Russia is going to do by occupying Ukraine, they already have huge land with fast dwindling population, only reason I could think is to create buffer region by occupying donbask from NATO