India’s days of buying cheap Russian oil may be over, as sweeping U.S. sanctions against Russian energy companies and oil transporters could complicate imports and lead to inflation. With 40% of its oil imports coming from Russia, India could face a potential oil shock due to the sanctions on 183 oil tankers transporting Russian crude. The impact is expected to be largest in India, as the country relies heavily on Russian oil and may struggle to find alternative sources.
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Baltic states making historic switch away from Russian power grid
After more than 30 years, Estonia, Latvia, and Lithuania are disconnecting from Russia's electricity grid and joining the EU's network, marking a significant shift away from Russian influence. The process will begin with a two-day transition period, followed by integration into the European grid via Poland. Tensions with Russia have escalated, with concerns over potential retaliation and cyber-attacks, prompting increased security measures and preparations for any disruptions. Full Article
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