Pent-up demand fuels price spurt

A Reserve Bank of India (RBI) paper on Tuesday said that while the initial inflationary pressure was due to successive supply shocks, a“revenge rebound” in spending is now generalising price pressures and making them persistent. The paper, which analysed the inflation trajectory in the country after February, said that supply-side shocks resulting from the Russia-Ukrainewar […]

Russia offers India help in leasing and building large-capacity ships to overcome G7’s oil price cap

Russia has welcomed India’s decision to not support the price cap on Russian oil announced by G7 and its allies and offered it cooperation on leasing and building large-capacity ships to overcome the ban on insurance services and tanker chartering in the European Union and Britain to continue buying discounted oil. The offer came as […]

Price cap on Russian oil will benefit emerging markets, help constrain Putin’s finances: US

The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an “important tool” that will benefit emerging markets and low-income economies and further cripple President Vladimir Putin’s finances used to fund his “brutal invasion” on Ukraine. The European Union reached a deal on Friday for a USD 60-per-barrel price cap […]