VIF Information Alerts - 05 July 2018

Iran to only trade with countries that import its oil
Published: The New Indian Express
05 Jul 2018

In the wake of threats from the United States (US) to reduce its oil revenue to zero, Iran has flouted plans of purchasing goods only from countries that import its oil.

"We will use a bartering system to exchange oil for goods. This means that we will make the purchase of goods conditional on oil sales. We are telling relevant markets and countries, which will purchase our oil, that we will buy goods in case they purchase our oil," a representative of the Iranian parliament's energy committee, Asadollah Qarekhani, was quoted by Sputnik as saying.Click here to read... [2]

India to hold maritime dialogues with China, Russia to discuss Indo-Pacific policy
Published: The Hindu
05 Jul 2018

India will discuss its Indo-Pacific policy with China at the upcoming second maritime dialogue. This development follows the series of efforts to improve bilateral relations after the Wuhan summit between Prime Minister Narendra Modi and President Xi Jinping.

“We are conducting a follow-up on Mr. Modi’s Indo-Pacific policy as he spoke at the Shangri-La Dialogue (SLD). We have had the Quadrilateral in Singapore, and bilateral maritime talks with Indonesia and France. We also expect to have maritime dialogues with Russia and China to discuss the Indo-Pacific,” an official source said on Wednesday.Click here to read... [3]

U.K. Outlines New Trade Plan for Brexit Ahead of Cabinet Meeting
Published: Bloomberg
04 Jul 2018

U.K. Prime Minister Theresa May is proposing a compromise plan for a Brexit trade deal with the European Union that she hopes will keep her fractious Cabinet together and unblock stalled talks in Brussels. Ministers don’t expect to see the full detail of May’s post-Brexit blueprint until the eve of the Cabinet meeting at which they’re supposed to reach agreement on it.

But a British official, speaking on condition of anonymity, gave an outline on Wednesday of a new customs proposal to bridge the divide between ministers in May’s Tory party who want a clean split with the EU and their colleagues who say businesses need to keep the closest possible ties to the bloc.Click here to read... [4]

India pushes Central Asia agenda buoyed by SCO membership
Published: The Economic Times
04 Jul 2018

India is all set to give mega push to its Central Asia outreach buoyed by its SCO membership with a slew of initiatives from big visits to expansion in defence partnership as President Ram Kovind plans his maiden trip to the region soon and Delhi prepares host the Uzbek President.

While Foreign Minister Sushma Swaraj will undertake a three-nation trip -- Kazakhstan, Uzbekistan and Kyrgyzstan and Commerce Minister Suresh Prabhu will visit Tashkent for exploring new areas of trade, senior Ministers from the region are frequenting India’s India’s national capital as they seek greater engagement with India amid Chinese inroads in the regionClick here to read... [5]

China to fit electromagnetic ‘supergun’ to Type 055 destroyers
Published: www.news.com.au [6]
05 Jul 2018

BEIJING’s determination to ‘leapfrog’ the United States in defence technology has taken another jump forward, with the launch of two new ships said to be capable of mounting a deadly new weapon system. Earlier this year China surprised the world when it appeared to confirm speculation that an unusual prototype gun seen aboard a military transport ship was a deadly new electromagnetic rail gun.

The state-run Global Times has tied this revelation to the launch of two new large warships earlier this week. Two Type 055 destroyers hit the water for the first time in Dalian, in the province of Liaoning, on Tuesday.Click here to read... [7]

Nepal Cabinet revokes all political appointments by Sher Bahadur Deuba-led government
Published: The New Indian Express
05 Jul 2018

The Nepalese Government has revoked all the political appointments made by the erstwhile Sher Bahadur Deuba-led government after August 30, 2017, according to a report in The Kathmandu Post. A Cabinet meeting late on Wednesday annulled the appointments citing that the former government made political appointments after the Election Code of Conduct came into effect.

"All political appointments to various government authority, organisation, council, board committee and organisations under company act made by Nepal government after the enforcement of the code of conduct for Federal Parliament and Provincial Assembly election on August 30, 2017, have been annulled," said government Spokesperson and Minister Information and Communications Gokul Prasad Banskota.Click here to read... [8]