๐ŸŒ India and Russia discuss trade pact


๐ŸŒ India and Russia discuss trade pact

Plus: Germany says goodbye to nuclear energy

Hi there Intriguer.ย Where would you hide $3.4 billion? Well, convicted fraudster James Zhong wasnโ€™t taking any chances when he hid $3.4 billion worth of bitcoin in a Cheetos tin. What flavour Cheetos, you ask? For maximum security, he opted for Flaminโ€™ Hot and Cheddar.

Todayโ€™s briefing is a 4.0 min read:

  • ๐Ÿ‡ฎ๐Ÿ‡ณ Everyone wants a piece of India.

  • ๐Ÿ‡ฉ๐Ÿ‡ชย Germany shuttersย its last nuclear reactors.

  • โž• Plus: Kenyans dominate the worldโ€™s oldest marathon, how the papers are covering the ongoing fighting in Sudan, and what happens when you kill your king.

ยฟHablas espaรฑol? ยญยกCheck out our weekly edition in Spanish!

๐Ÿ—บ๏ธ AROUND THE WORLD
  1. ๐Ÿ‡ฏ๐Ÿ‡ตย Japan: Prime Minister Fumio Kishida was targeted in a pipe bomb attack on Saturday. He was unharmed and has pledged to heighten security ahead of this yearโ€™s G7 meetings in Japan.

  2. ๐Ÿ‡ช๐Ÿ‡บย EU: Brussels has criticised Poland and Hungaryโ€™s ban on Ukrainian grain imports, arguing only the EU can take such action. Poland and Hungary insist such a ban is needed to stop their markets from being flooded by cheap Ukrainian grain.

  3. ๐Ÿ‡ป๐Ÿ‡ณย Vietnam: US Secretary of State Antony Blinken visited Vietnam over the weekend, as the two countries seek to balance China in the region. Vietnam will soon receive a third Coast Guard vessel from the US.

  4. ๐Ÿ‡ง๐Ÿ‡ทย Brazil: A court has ordered former president Jair Bolsonaro to testify on his role in Januaryโ€™s storming of Brazilโ€™s congress. Critics accuse him of encouraging his supporters to riot, something the former president denies.

  5. ๐Ÿ‡ฎ๐Ÿ‡ทย Iran: Ten people have received (relatively short) prison sentences over the downing of a Ukraine International Airlines flight in January 2020. Iranian authorities initially denied involvement, but later admitted to the โ€œdisastrous mistakeโ€ that killed all 176 people on board.

๐Ÿ‡ฎ๐Ÿ‡ณ INDIA | GEOPOLITICS

Russia and India resume free trade talks

Briefly: Russia and India have resumed free trade discussions after initial talks were delayed by Covid-19 and Russiaโ€™s invasion of Ukraine. Russiaโ€™s Deputy PM made the announcement while visiting Delhi yesterday (Monday).

Even without a free trade agreement (FTA), India-Russia trade is flourishing. Russiaโ€™s exports to India have quadrupled since the West sanctioned Moscow last year. India now imports half its oil from Russia, up from 1% before the war.

And Russia isnโ€™t the only one hoping to ink an FTA with India. Others are also lining up, as India surpasses China to become the worldโ€™s most populous country.

Intrigueโ€™s take: This all begs two questions: first, why is India doing FTAs now, after years of showing less enthusiasm than a dad at a Wiggles concert? Wellโ€ฆ Indiaโ€™s now stronger, its industry more competitive, and the world more eager to hedge on China. And that all puts Delhi in a better negotiating position.

But second, why would India deal with a pariah like Russia? Wellโ€ฆ Indiaโ€™s now more confident, and clearly thinks the benefits of ties with Russia (cheap oil, a stable border, and a hedge against China) outweigh the costs (Western criticism).

Also worth noting:

  • According to a State Bank of India report, India will be the worldโ€™s third largest economy by 2029, up from the tenth slot in 2014.

  • A US official said the US wonโ€™t look to sanction India for buying Russian oil, as India is one of its โ€œmost consequential relationships.โ€

๐Ÿ“ฐ GLOBAL PERSPECTIVES

How different newspapers covered: The ongoingย fighting between two rival factions in Sudan.

Todayโ€™s briefing is sponsored byย Policyware

Become an expert by learning from one, and even get your job to pay for it.

Gustafsson-Wrightโ€™s previous professional experience includes working at the World Bank, the UNICEF Innocenti Research Center, and as Senior Researcher with the Amsterdam Institute for International Development (AIID).

  • In this course, you can learn at your own pace with both live and recorded lecture options.

  • Courses are eligible for corporate reimbursement!

๐Ÿ‡ฉ๐Ÿ‡ช GERMANY | ENERGY

Germany says tschรผss to nuclear energy

Briefly: Germany switched off its three remaining nuclear power plants on Saturday. The reactors were already living on borrowed time after being granted a three-month extension in December to see Germany through the winter.

Berlin made the decision to abandon nuclear in 2011ย after Japanโ€™s Fukushima disaster, but a decade and a war later, many now think this was near-sighted.

A recent poll suggests two thirds of Germans oppose the closing down of the remaining nuclear power plants, at least in the short term.

Intrigueโ€™s take: Germany may be in good company: nuclearโ€™s share of global electricity production has been steadily declining for the past two decades, as other low-carbon energy sources become cheaper.

But in parallel, several of Germanyโ€™s neighbours – spooked by the Russo-Ukraine War – are actually looking to add more nuclear power to their energy mix, as a means to pursue both climate and energy security goals.

Also worth noting:

๐Ÿ‘€ย EXTRA INTRIGUE

Weโ€™re very online, so you donโ€™t have to be.

๐Ÿ“ธ PHOTO OF THE DAY

Obiri and Chebet finished first in their respective categories. Credits: WCVB.

Hellen Obiri and Evans Chebet, both from Kenya, took gold in the womenโ€™s and menโ€™s heat at a rainy Boston Marathon on Monday. Obiri ran the race, the worldโ€™s oldest, in 2:21:38 (3:22 minutes/km) while two-time winner Chebet clocked in at a brisk 2:05:04 (2:59 minutes/km).

๐Ÿ—ณ๏ธ POLL TIME!

Where is India's foreign policy headed?

Yesterdayโ€™s poll: How do you think the West should approach North Korea and its advancing weapons program?

๐ŸŸจ๐ŸŸจ๐ŸŸจโฌœ๏ธโฌœ๏ธโฌœ๏ธ ๐Ÿ’ฐ More sanctions (20%)

๐ŸŸจ๐ŸŸจ๐ŸŸจ๐ŸŸจ๐ŸŸจ๐ŸŸจย ๐ŸŽค Negotiations should be resumed (32%)

๐ŸŸจโฌœ๏ธโฌœ๏ธโฌœ๏ธโฌœ๏ธโฌœ๏ธ โœ‹ Nothing, the current approach is fine (11%)

๐ŸŸฉ๐ŸŸฉ๐ŸŸฉ๐ŸŸฉ๐ŸŸฉ๐ŸŸฉย ๐Ÿ‡จ๐Ÿ‡ณ Pressure China to take more action (33%)

โฌœ๏ธโฌœ๏ธโฌœ๏ธโฌœ๏ธโฌœ๏ธโฌœ๏ธ โœ๏ธ Other (write in!) (3%)

Your two cents:

  • โœ‹ย L.N.K: โ€œPressuring China will not get us anywhere and more likely cause more conflict. However, not legitimizing Kim Jong-un's nuclear grandstanding by withholding large scale reaction is the best way to disempower the dictator. It severely weakens his foundational myth that the US & the West is out to get him.โ€

  • ๐Ÿ‡จ๐Ÿ‡ณย S.B: โ€œNot wanting North Korea to advance its weapons program is one of the few goals still shared by the West and China.โ€

  • โœ๏ธ T: โ€œGive up.โ€