US allows India to purchase Russian oil temporarily, what it means? Tells Dhruva Jaishankar

Описание: Delhi: On the US Treasury Department issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil, Executive Director of the Observer Research Foundation America, Dhruva Jaishankar, says, "... One common thread amongst all geopolitical conflicts is that commodities will be affected in drastic measures... Energy is chief amongst them, but not the only factor at play. The issue with the commodities market, including energy, is that it is now globally traded. We all look at what the Brent crude figures are on a given day when there's a crisis in the Middle East. So it's a place where essentially a global marketplace is coming into collision with posturing and demands on the national level and it leads to some very strange contradictions. For example, the US has been sanctioning Russia; they create carve-outs for themselves on uranium, on palladium, on things like that, which they can't get from anywhere else. And that is the reality that any, again, large, integrated, sophisticated economy has to deal with... There are going to be, even in the midst of conflict, various kinds of carve-outs given to balance the global economic compulsions on the one hand versus the geostrategic competition on the other hand... So we're going to see some very unexpected kinds of arrangements being made because, again, even in the height of a conflict, the US is conscious of the global energy market, oil particularly, but gas to some degree..."

#sjaishankar #DhruvaJaishankar #usa

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