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Geoeconomics

MIDDLE EAST:

IRAN:

  • Iran is reaching out to its old customers in Asia to gauge interest in its crude as the Persian Gulf oil producer ramps up diplomacy in a bid to get U.S. sanctions lifted. Prior to the penalties — put in place to pressure the country into renegotiating a nuclear deal — China and India were Iran’s biggest buyers in Asia, followed by South Korea and Japan. Iran’s crude shipments dwindled to a trickle after sanctions by the former U.S. administration in 2018 and the end of waivers for some countries in 2019, although a number of Chinese refiners continued to take some oil.

SOURCE: BBN BLOOMBERG


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SOUTH ASIA:

SRI LANKA:

  • Pakistan’s offer to Sri Lanka to join its multibillion-dollar trade and infrastructure scheme with China under Beijing’s Belt and Road Initiative has raised concerns in Indian policy circles, as New Delhi seeks to secure its influence in a region where China’s presence is growing. Indian strategic affairs observers said a proposal for Colombo to use Gwadar could be problematic for India’s security, as about 70 per cent of the goods that Sri Lanka’s ports now handle are transhipped to and from India. India is Sri Lanka’s largest trading partner, and the two countries also cooperate in areas such as security and defence.

SOURCE: SOUTH CHINA MORNING POST


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SOUTH ASIA:

MYANMAR:

  • The United States looks to build a coalition to further punish Myanmar’s generals, but it’s not having much success convincing governments in Asia to follow suit. No countries in the region so far have indicated they would support sanctions or any other measures that would hit the military’s finances. Asean, which is based on the principle of nonintervention, was ready “to assist Myanmar in a positive, peaceful and constructive manner”.

SOURCE: STRAIT TIMES


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EURASIA:

RUSSIA:

  • The U.S. Department of the State imposed sanctions on six Russian research institutions, which are known to be involved in the development of chemical weapons program. The decision is made within the case of Alexei Navalny’s poisoning last year. The Western governments have been accusing Russian government with the attempt on the life of the major Russian opposition figure.

SOURCE: 112


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ASIA PACIFIC:

CHINA-AUSTRALIA DIPLOMATIC RIFT:

  • Chinese investment in Australia plummeted 61% in 2020, the lowest number in six years. The drop in investment comes amid a growing diplomatic rift between the two countries, since Australia first called for a rigorous investigation into the origins of the Covid-19 pandemic and in response China has imposed tariffs or trading restrictions on Australian goods.

SOURCE: BBC


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SOUTH ASIA:

INDIA-CHINA VACCINE DIPLOMACY:

  • India and China -that have disengaged frontline troops from their borders, putting an end to tensions in the region- have shifted their rivalries to a different field – seeking political influence through vaccine diplomacy. Since India produces 60% of global vaccines, it is trying to match China to use it as a diplomatic tool to expand influence in the neighborhood and beyond. The COVID-19 vaccine has emerged as an important form of diplomatic currency globally for the nations to showcase their soft power gains.

SOURCE: ANADOLU AGENCY


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SOUTH ASIA:

MYANMAR:

  • Japan’s government is considering suspending new official development aid for Myanmar for the foreseeable future, in response to the February 1 coup. Meanwhile, the Japanese automotive giant Toyota’s decided to postpone the opening of a new plant in Myanmar, given the heightened political uncertainty that has followed the military takeover.

SOURCE: THE DIPLOMAT


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EURASIA:

ARTIC:

  • Russia inks long-term deal to supply China with liquefied natural gas from Arctic. Also invites BRICS partners to join country’s massive Arctic oil & gas projects. “Our LNG commercial strategy is to diversify our client base and target end consumers in the fast-growing Asian Pacific region,”

SOURCE: RT


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SOUTH ASIA:

PAKISTAN:

  • Pakistan is exploring the possibility of increasing Sri Lanka’s trade connectivity to the Central Asian region through the China-Pakistan Economic Corridor (CEPC), called as a flagship project of China’s Belt and Road Initiative (BRI).

SOURCE: DAILY MIRROR


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WHAT IS HAPPENING IN GEOECONOMICS? SOUTH ASIA:

PAKISTAN:

  • Pakistan is looking for connectivity with Afghanistan, Central Asia and ultimately to Russia, with Balochistan playing a pivotal role through its geographical location and abundance of natural resources. Balochistan is a geo-strategic location as well as a hub of natural resources which if fully utilised could be a catalyst for the entire region. Since Pakistan’s inception, Balochistan had been made a target for the country’s adversaries due to its attributes, and consequently had been destabilized by internal and external elements.

SOURCE: DAILY TIMES


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