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Why in the news? Scott Bessent, U.S. Treasury Secretary nominee, emphasized tightening sanctions on Russia’s oil sector to pressure Moscow over the Ukraine war. This move could significantly affect India’s oil imports and efforts to internationalize the rupee. Tighter Sanctions on Russian Oil: Scott Bessent, nominee for S. Treasury Secretary, supports stricter sanctions on Russia’s …
Read MoreWhy in the news? BHEL faces government and NTPC scrutiny over delays and quality issues in thermal projects. Challenges like labor shortages, theft, and raw material unavailability hinder progress, impacting India’s thermal capacity addition, critical for balancing renewable energy variability. Challenges in Thermal Power Projects: BHEL, a key manufacturer and installer of thermal power equipment, …
Read MoreWhy in the news? The Indian oil companies face difficulties repatriating $900 million in dividends from Russian projects due to Western sanctions, creating challenges in global payment systems and investments. Issue of Stuck Dividends in Russia: Indian oil PSUs (ONGC Videsh, Oil India, IOC, and BPRL) are unable to repatriate $900 million in dividends from …
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