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Syllabus: GS 2: India and neighbourhood relations . Development of India’s relation with the west. Why in the News? The U.S.-India civil nuclear deal, signed in 2008, remains underutilized despite its transformative potential. Recent U.S. announcements on removing nuclear entities from the Entity List have rekindled hopes for progress. The U.S.-India civil nuclear deal: The …
Read MoreWhy in the news? The US imposed sweeping sanctions on Russia’s oil trade, affecting tankers, companies, and insurance, potentially disrupting India’s crude oil imports. Russia remains India’s largest oil supplier, necessitating alternative arrangements amidst global market instability. About New Sanctions and Targets: The outgoing US administration imposed significant sanctions on Russia’s oil trade, targeting 183 …
Read MoreWhy in the news? Ukraine halted Russian gas transit to Europe on January 1, 2025, ending decades of supply dominance. This move, driven by Europe’s reduced reliance on Russian energy, impacts Ukraine’s revenue and Russia’s market share significantly. Ukraine Halts Russian Gas Transit to Europe: On January 1, 2025, Ukraine ceased the transit of Russian …
Read MoreWhy in the news? Crude oil prices steadied after a rise in U.S. gasoline stockpiles and the postponement of an OPEC+ meeting, highlighting the alliance’s critical role in stabilizing global energy markets and influencing international economic trends. Overview of OPEC and OPEC+ : OPEC+ is a coalition of 22 oil-exporting countries formed in 2016 to …
Read MoreWhy in the news? India and the US signed an agreement to strengthen critical mineral supply chains amid concerns over China’s control and recent export restrictions affecting cleantech industries. Agreement Details: Context: Amid rising concerns over China’s control of critical minerals, particularly in clean tech, India and the US signed an agreement to enhance the …
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