Oct 16-31, 2021 - Vol 2, Issue 8
INDIA NEWS
WORLD THIS WEEK
WORLD THIS WEEK Contributed by the National Institute for Advanced Studies, Bengaluru
Compiled by Sukanya Bali, Avishka Ashok and Vaishnavi Iyer
Europe: The impending energy crisis Voice of America
Second, promotion of Nord Stream 2. Russia has intervened in the EU natural gas crisis. It has assured the EU of a consistent supply of natural gas, but there remains an undercurrent of pressure to start formal preparations for Nord Stream 2. The EU may have to hasten the approval of Nord Stream 2 for continued cooperation. Given the economic nature of the problem, there is no quick fix.
ALSO IN NEWS What happened? On 6 October, European gas prices saw a record increase. The Spanish Prime Minister Sanchez said: "We are facing an unprecedented crisis that requires extraordinary, innovative, serious measures from the EU in order to control this price hike." Addressing the EU Slovenia Summit, he called for the European Council and the European Commission to help resolve the crisis. The EU Energy Commissioner Kadri Simson said: "The bloc should provide targeted support to citizens and small businesses that were hardest hit." She called for a shift in taxation which is facilitated under EU directives. With the economic nature of the crisis, Simson notes no quick fixes could help the situation. An energy expert, Theirry Bros said: "You're finding yourself in an area where demand has rebounded and on the other side, supply is more constrained. On 7 October, Russia pledged to increase its gas supplies to Europe. Dmitry Peskov said: "existing gas transit routes allow for bolstering supplies before the new Nord Stream 2 pipeline that is intended to bring Russian gas to Germany begins operating. It all depends on demand, contractual obligations and commercial agreements." Russia's deputy Prime Minister Novak promoted launching Nord Stream 2 to facilitate easier gas transit. What does this mean? First, the global hike in gas prices. This is not limited to Europe. A primary reason for the supply shortage has been the pandemic along with colder winters this year. Industrialists and suppliers have profited from limiting gas supplies causing a consequent hike in prices. Government intervention seems to be the most favourable solution. France and other few countries began price capping and scheduled a planned increase in electricity tariffs for its consumers. The EU has also begun the process of changing its taxation mechanisms to facilitate a smoother winter.
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Taiwan: Defence Minister says military tension worst in last 40 years On 6 October, Reuters reported: Taiwan's Defence Minister Chui Kuo-cheng said: "military tensions with China are at the worst in 40 years." He also added, "there was a risk of a misfire across the sensitive Taiwan Strait." Since 01 October, more than 150 Chinese Air Force planes were involved in incursions in Taiwan's air defence identification zone. China: Xi Jinping vows peaceful reunification with Taiwan
On 9 October, Chinese President Xi Jinping at a meeting commemorating the 110th anniversary of the Xinhai Revolution vowed to achieve a "peaceful reunification" with Taiwan. According to Reuters, Xi said: "Taiwan independence separatism is the biggest obstacle to achieving the reunification of the motherland, and the most serious hidden danger to national rejuvenation." He added: "The historical task of the complete reunification of the motherland must be fulfilled, and will definitely be fulfilled." North Korea: Pyongyang continues nuclear programme amid sanctions, says UN report On 5 October, a report by the United Nations noted that North Korea had continued its nuclear and ballistic missile programs despite international sanctions. The report highlighted, the North continues to "seek material and technology" for such programs. According to The Korea Herald, the UN report also stated: "the regime staged a new shortrange ballistic missile test combining ballistic and guidance technologies." Japan: Prime Minister held the first talk with the US President Biden; mentions need of
dialogue with Chinese President Xi Jinping
Dmitry Muratov
On 6 October, Japan's new Prime Minister Fumio Kishida held his first talk with US President Joe Biden. The Asahi Shimbun reported, Kishida said: Biden provided "a strong statement about US commitment for the defense of Japan, including Senkaku." He added, the two leaders reaffirm to tackle the "challenges facing neighbouring regions such as China and North Korea." Later, Kishida also held online talks with Australian Prime Minister Scott Morrison. Japan's Foreign Ministry stated, both agreed to "strengthen their security and economic ties bilaterally and as part of the Quad alliance to promote regional peace and stability." On 9 October, Japan's Prime Minister held a telephonic conversation with the Chinese President Xi Jinping. The Asahi Shimbun reported, Kishida raised issues on "the disputed islands, as well as Hong Kong and Beijing's treatment of Uighurs in the Xinjiang province." He stated, "Xi and I agreed to work together on various shared issues, including North Korea." Pakistan: US Deputy Secretary of State at a two-day visit to Islamabad On 8 October, the US Deputy Secretary of State Wendy Sherman met Pakistan's Foreign Minister Shah Mahmood Qureshi. Dawn reported: Quershi stated, "Pakistan wants broad-ranging, long-term and stable relations with the United States to promote economic cooperation and establish peace in the region." He also called for a regular and structured bilateral dialogue process for promoting common interests and advancing regional objectives. Further, Pakistan General Qamar Javed Bajwa also emphasized on maintaining meaningful bilateral engagement for an enduring multi-domain relationship between Pakistan and the USA.
of the US to engage with Iran to resume the negotiations on the nuclear issues. While stressing that the diplomatic communication option was still open, he explained that Iran had to make the decision. He said: "We have made very clear that we are prepared, willing and able to return to Vienna as soon as we have a partner to negotiate with."
Tolo news reported: Deputy Minister Zabihullah Mujahid, said the delegation will meet with "Qatari officials and the envoys of a number of countries on Afghanistan's situation." On 5 October, Deputy Prime Ministers Mullah Abdul Ghani Baradar and Abdul Salam Hanafi met UK's special envoy Simon Gass. According to Tolo news: Baradar and Hanifi in the meeting said, "the Islamic Emirate wants good relations with the world's countries, and they will not allow anyone to threaten any country from Afghanistan." They also added, the Islamic Emirate will "facilitate conditions for international humanitarian organizations to deliver aid to vulnerable Afghans." In response Gass said: "UK will continue its humanitarian aid to Afghanistan via the United Nations and international humanitarian organizations." He reiterated the importance of girls' education as well. India: Pandora Papers identify many Indians secretly stashing wealth overseas
Afghanistan: Taliban delegation leave for Doha to hold talks with officials; UK Prime Minister's special envoy meets with Taliban leaders in Kabul
On 5 October, the leak of financial documents dubbed Pandora Papers showed that over 300 Indians have set up offshore structures to stash wealth, launder money and evade tax. The International Consortium of Investigative Journalists uncovered details after accessing over 12 million documents of offshore companies from 14 sources. The leaked documents named many including MPs, film stars and sports stars. The Indian express identified that businessmen who have declared themselves bankrupt hold billions through such overseas entities. On the same day, in response to the findings, India's Central Board of District taxes launched an investigation into these cases.
On 8 October, a delegation of the Islamic Emirate led by acting Foreign Minister Amir Khan Muttaqi left for Doha to discuss Afghanistan's political situation with foreign officials.
On 7 October, the US State Department spokesperson Ned Price announced the willingness
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Iran: The US State Department pushes for re-engagement on nuclear talks
Russia: Government labels more journalists as foreign agent after Russian journalist wins Nobel Prize On 8 October, the Norwegian Nobel Committee awarded Dmitry Muratov of Russia the Nobel Peace Prize for their unfiltered and courageous work in authoritarian situations. The Chair of the Nobel Committee said: "Free, independent and fact-based journalism serves to protect against abuse of power, lies and war propaganda." Although the Russian government congratulated Dmitry and called him "talented and brave", the Justice Ministry added nine more journalists and three media organizations to the list of foreign agents. Europe: World leaders come closer to an agreement on Global Corporate Tax On 8 October, over 136 countries ratified an agreement on a new global corporate tax which will be put into effect by 2023. On 7 October, Ireland and Estonia agreed to join the initiative, while Hungary chose to gradually reach the agreed tax rate over a period of ten years. The US President Joe Biden referred to the agreement and said: "Establishing, for the first time in history, a strong global minimum tax will finally even the playing field for American workers and taxpayers, along with the rest of the world." Through the global corporate tax, a minimum income tax rate of 15 percent will be levied to restrict tax competitions to appeal to big companies. As of now, Kenya, Nigeria, Pakistan and Sri Lanka are the only countries in the OECD group that have not ratified the agreement. About the Authors Sukanya Bali is a PhD Scholar at OP Jindal University. Vaishnavi Iyer and Avishka Ashok are Research Associates in the School of Conflict and Peace Studies at the National Institute of Advanced Studies. The report has been modified by India News due to space considerations.
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