Dark waters: China and India’s secret lifelines to Russian oil
Kieran Thompson 30 May 2023
Russia’s ports of Kozmino and Primorsk are at the epicenter of a black market pushing Russian crude oil prices above the US$60 sanctions cap imposed by Western and allied governments in their efforts to sap the Kremlin's ability to wage war on Ukraine. India-bound shipments from Primorsk have surged, and the International Energy Agency found 95% of oil exports from Kozmino, negotiated in secret, are breaching the price cap. Dragoman consultancy’s Kieran Thompson dives in.
Negotiators have reached agreement on the supply chain pillar, one of four underpinning the US-led Indo-Pacific Economic Framework. It’s a small triumph in an engagement strategy awash in doubt and confusion among its partners in the region. The successful conclusion of the supply chain pillar reflects a Herculean effort. It would however be premature to celebrate an IPEF victory.
While digital technologies may be ubiquitous, the rules applied to the digital economy remain disjointed. Governments are belatedly seeking to strengthen digital borders to retain national sovereignty on the internet, particularly through new rules that govern data flows. But, to paraphrase Taylor Swift, regulators gonna regulate, trade policy expert and former New Zealand trade negotiator Stephanie Honey writes.
What do this year’s G7 outcomes say about the future of engagement between the G7 and the rest of the world, and where will their efforts lead? Is the dollar’s position as the global reserve currency truly under threat? Explore our reading list for the latest developments in global trade.
Renewing a 'united front' with America's allies to counter China has been a top priority for the Biden administration. But while the US and the EU have had a close working partnership, their interests and viewpoints are far from identical. Senior Research Fellow Stephen Olson decodes the policy priorities of the EU and the US in managing the rise of China.
Southeast Asia has developed rapidly over the past two decades and the region is one of the biggest recipients of FDI among emerging regions. What is the impetus for the region to accelerate greening and strategies for promoting investment for green growth? Watch this recap of a webinar organized by the EU-ASEAN Business Council and the Hinrich Foundation for more insights on the findings of a paper by the Organisation for Economic Co-operation (OECD) co-sponsored by us.
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