Defiant Ukrainians celebrate New Year despite missile strikes by Russia

Ukrainians cheered from their balconies while their air defences blasted Russian missiles and drones out of the sky in the first hours of 2023, as Moscow saw in the new year by attacking civilian targets across Ukraine. Ukraine’s Air Force command said it had destroyed 45 Iranian-made Shahed drones overnight —32 of them on Sunday … Read more

Joe Biden vows ‘consequences’ for Saudi Arabia after OPEC+ cuts output

President Joe Biden said on Tuesday there will be “consequences” for Saudi Arabia as the Riyadh-led OPEC+ alliance moves to cut oil production and Democratic lawmakers call for a freeze on cooperation with the Saudis. Biden suggested he would soon take action as aides announced that the administration is reevaluating its relationship with the kingdom … Read more

Russia-Ukraine War: India right in giving prominence to its strategic preferences

India is right to be “deeply disturbed” about the worsening Ukrainian crisis. How and when it will end is unclear. With the Nord Stream pipelines sabotaged, Europe’s energy crisis aggravated, the EU intransigent, Russia’s implicit nuclear warnings, US announcing additional billions of dollars of arms aid to Ukraine and more sanctions on Russia, the outlook … Read more

Saudi Sovereign Wealth Fund Invested $2 Billion in Russia Before Ukraine War

Saudi Arabia’s sovereign wealth fund invested $2 billion in Russia before the Ukraine invasion. A prospectus for the fund revealed investments in Russia’s infrastructure, manufacturing, logistics and retail sectors, the Wall Street Journal said. The Public Investment Fund, which is run by Saudi Crown Prince Mohammed bin Salman, oversees $600 billion in assets. Something is … Read more

How Russia’s Economy Bucked Wall St Forecasts for Post-War Pain

Top investment banks expected Russia to suffer severe economic damage after it invaded Ukraine in February. But Russia’s economy has held up better than expected, causing them to revise those predictions. Here are three charts that show the Russian economy’s resilience in the six months since war started. When President Vladimir Putin’s forces invaded Ukraine … Read more