MCViewPoint

Finally, outside some BBC cheerleading of the “accomplishments” of the recent Biden-Modi meetup in Washington and TIME Magazine harping about human rights detente failures, all the U.S. came away with were a microchip manufacturing investment deal and a U.S. jet engine promise for India made planes. Meanwhile, Russia remains the dominant supplier of Indian arms,

https://journal-neo.org/2023/07/18/indias-modi-meets-biden-u-s-screw-turners-squirm-some-more/

Author: Phil Butler

The United States leadership is squirming to resolidify ties with parts of the world that either bombed, invaded, or marginalized in recent decades. The prime example of marginalization is India. However, without the current gigantic trade surpluses boosting Indian confidence in America, Prime Minister Narendra Modi will have to do much less tightrope-walking between Washington and the emerging multipolar world. Since the end of the Cold War, India has practiced a multi-aligned foreign policy. This may soon change.

It’s no secret that Indian businesses are raking in billions on discounted Russian crude oil. According to the latest reports, Indian refiners saved over $7.17 billion in foreign exchange in the 14 months which ended in May 2023. Russian tankers flood India’s Gulf of Kutch, home to the world’s biggest refining operation. Ironically or poetically, India then ships refined oil to markets like the European Union at a hefty value-added price. If the trend goes unchecked, India will surpass Saudi Arabia as the largest oil exporter to the EU.

Changing gears. Russian Foreign Minister Sergey Lavrov said recently that Iran will be formally approved as a member of the regional Shanghai Cooperation Organization with China, Russia, and Central Asian countries. Iran also has sights on becoming a member of the BRICS. India is a member of both organizations. This organization represents about 40% of the world’s population, 20% of the world’s GDP, and 60% of the Eurasia landmass. This quote from a CBS News report frames what’s taking place:

See the rest here

Be seeing you