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Putin visit could bring sparkle back to India-Russia ties

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President of Russia Vladimir Putin.(RIA Novosti / Alexey Druzhinin)

President of Russia Vladimir Putin.(RIA Novosti / Alexey Druzhinin)

by Ranjana Narayan

New Delhi: India-Russia ties are set to get the sparkle of diamonds during the summit between Prime Minister Narendra Modi and President Vladimir Putin next week during which both sides would also seek to draw up a long-term vision of their key strategic ties.

Putin will also address a joint session of the Indian parliament.

The Russian president will be meeting Modi on Dec 11 for the 15th India-Russia Annual Summit. Though the exact schedule of his visit has not yet been firmed up, Putin is expected to arrive on Dec 10 evening, or land early on Dec 11 itself, it is understood.

Though both Modi and Putin have met earlier at international gatherings, no structured bilateral talks have been held so far. Both leaders have also not had any informal talks that would help both to strike a personal rapport, like that between Modi and US President Barack Obama, or with Australian Prime Minister Tony Abbott. Modi appears to have struck a personal chord with Obama and especially so with Abbott, which was visible during his Australia visit.

Modi met with Putin in July during the BRICS – Brazil, Russia, India, China, South Africa – summit in Fortaleza, Brazil and later during the informal BRICS meeting in Brisbane, Australia, on the sidelines of the G20 last month. During the Brisbane gathering, the meeting between Modi and Putin was brief.

The Delhi summit talks is expected to provide both leaders an opportunity to know each other’s mind and points of view. India has moved away from Russia in recent years, a far cry from the special relationship that the two countries enjoyed during the Soviet era.
Putin had, however, struck a special rapport with former prime minister Manmohan Singh, who attended 10 of the annual bilateral summit meetings.

India and Russia are expected to ink a vision document giving a fillip to their long-term relationship, especially under the government of Narendra Modi, which came to power six months ago.

The visit comes as the Russian economy has taken a beating due to Western sanctions over the Ukraine crisis and its currency, the rouble, suffering the biggest fall since 1998 due to the dip in global oil prices. Russia is a major oil exporter.

Alrosa, a leading Russian diamond miner, is also looking to working closely with the Indian cutting and polishing industry. The Indian diamond industry buys roughs, produced mostly in Russia, from Dubai and Belgium. India has a major cutting and polishing industry with cities like Surat and Jaipur being major centres.

State-owned Alrosa accounts for around 25 percent of the world output of roughs, while the Indian diamond processing industry accounts for some 60 percent by value of global polished diamond output. An estimated 14 out of 15 polished diamonds studded in jewellery globally are cut and polished in India.

In 2013, Alrosa produced 36.9 million carats of rough. India imported 163.11 million carats of roughs worth $16.34 billion, and exported 36.46 million carats of polished diamonds worth $20.23 billion in 2013. But, direct import of rough diamonds from Russia to India stands at a modest $767 million, a little less than five percent of India’s total import of roughs.

Both sides are of the view that direct supplies of rough diamonds could boost bilateral trade in roughs to $5 billion. Russia is the largest diamond-producing nation in the world, estimated to have produced a little over 33 million carats in 2013, with Alrosa accounting for approximately 97 percent.

In April this year, India’s Gem Jewellery Export Promotion Council (GJEPC) and Alrosa signed a memorandum of understanding to share diamond trade data. The GJEPC has suggested the Indian government set up a special trading zone at the Bharat Diamond Bourse in Mumbai, and replicate the same in Surat at a later stage, said reports.

(IANS)

Putin, blocked by Europe, turns to Turkey for Gas Pipeline

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President of Russia Vladimir Putin.(RIA Novosti / Alexey Druzhinin)

President of Russia Vladimir Putin.(RIA Novosti / Alexey Druzhinin)

by Juan Cole

The Russian annexation of Crimea and heavy interference in the Ukraine has had a significant consequence for its hydrocarbon industry. President Vladimir Putin has been forced to cancel a planned natural gas pipeline that would bring the fuel to southern Europe, because of European Union pressure for boycotting Russia. Moscow will not suffer very much economically, however, since it can sell as much natural gas to Turkey as it had been planning to sell to southern Europe, though perhaps at a bigger discount (Turkey has 75 people and is the world’s 17th largest economy. Greece has 11 million people and a small economy.)

The Ukraine crisis was in some ways provoked by aggressive expansionism by the EU and NATO into former Russian spheres of influence, in contradiction to promises made by the West to Premier Mikhail Gorbachev in the early 1990s. But be that as it may, Russia’s unilateral annexation of the Crimea and heavy interference in eastern Ukraine is inconsistent with international law.

Turkey plans to grow its economy substantially in the coming decade and is energy hungry, lacking much in the way of gas or oil itself, though it has coal. Slightly discounted Russian natural gas seems a good deal to Ankara. Moreover, Turkey has been rudely rebuffed in its bid to join the European Union, and this deal with Russia is a way for the Turks to remind the Europeans that if the EU had wanted Turkey to join its consensus, it could have admitted Turkey. As things now stand, Ankara is a free agent, and glories in its independence. Russian natural gas also has advantages for Turkey at the moment over Iranian natural gas, since the US has been pressuring countries not to deal with Iran or to allow bank transfers of money from Iran.

The significant political differences between Turkey and Russia on the Crimean Tartars and on Bashar al-Assad in Syria appear to have proved no bar to these economic deals.

Environmentally, burning natural gas is bad, but it isn’t nearly as bad as burning coal; some consider it half as carbon-intensive as coal, but that idea probably underestimates the methane emitted in drilling for gas. And, Turkey has big plans for coal. A Greenpeace study [pdf] observes:

“According to the World Resources Institute, Turkey plans 50 coal-fired power plants with a total installed capacity of 37,000 MW. This will rank Turkey first among OECD countries investing in new installed coal capacity and fourth globally, behind only China, India and Russia. Some projections suggest up to 86 new coal plant projects, when accounting for those that are in the process of permitting and those that have failed the application process.

In 2011, Turkey’s overall energy mix was comprised of 31% coal, 32% natural gas, and 27% petrol, with the remaining 10% composed of hydropower, wood/biofuels and wind. The Ministry of Energy and Natural Resource’s energy vision for 2023 predicts a near doubling of total energy sources, with the only significant difference that use of gas would decrease in relative terms to 23% and the use of coal would increase to 37%. In absolute terms this would mean a 2.3-fold increase of coal use in just 12 years.”

A person can only hope that the diversion of Russian natural gas to Turkey will forestall the building of some of those 50 or 85 coal plants, which are an environmental catastrophe waiting to happen. Why sunny and windy Turkey doesn’t initiate a crash program of renewables is a huge mystery, since then their fuel would be free and their economy would really take off.

My advice to Greece and other southern European countries that Putin has just by-passed for natural gas is to turn to renewables rather than seeking to replace Russian gas with Qatari. Italy gets 7% of its electricity from solar. Greece so far has little wind or solar power, its main renewable source for electricity being hydroelectric. About half of its electricity comes from dirty lignite coal. A quarter is from gas. Greece has enormous solar and wind potential but its government hasn’t promoted it. Putin wants to maneuver Turkey into reselling Russian gas to southern Europe, so as to sidestep sanctions. But if Turkey and Greece initiated a crash program of renewables they would save money and remove themselves from the geopolitical cross fire.

Putin: ‘U.S wants to subdue Russia, but no one did or ever will’

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President of Russia Vladimir Putin.(RIA Novosti / Alexey Druzhinin)

President of Russia Vladimir Putin. (RIA Novosti / Alexey Druzhinin)

by RT

The US has no plans to humiliate Russia, but instead wants to subdue it, Russian President Vladimir Putin has said, adding that no one had ever succeeded in doing so – and never will.

Speaking at a forum of the All-Russia Peoples’ Front in Moscow on Tuesday, the Russian leader said that history was not about to change, and that no one would manage to suppress the country.

“Throughout history no one has ever managed to do so toward Russia – and no one ever will,” Putin said.

Responding to a question about whether America was trying to humiliate Russia, Putin disagreed, saying that the US wanted “to solve their problems at our expense.”

He said that people in Russia really like the Americans, but it’s the US politics that are not accepted so well. “I think America and its people are more liked than disliked by people here [in Russia]. It’s the politics of the ruling class [in the US] that is likely negatively viewed by the majority of our citizens,” he said.

The Russian leader said the US had managed to subordinate its allies to its influence – with such countries “trying to protect foreign national interests on obscure conditions and perspectives.”

One of the means of changing the balance of power in the world to eventually subdue Russia was NATO’s gradual approach to its borders, which made Russia “nervous”, Russian presidential spokesperson Dmitry Peskov told BBC.

Russia needs a “100% guarantee that no-one would think about Ukraine joining NATO,” Peskov added.

Heads of states and international organizations pose for the “family photo” during the G20 Summit in Brisbane on November 15, 2014. (AFP Photo/Saeed Khan)

The Russian president has last met with his American counterpart last week, while attending the G20 summit in Australia. Despite the focus on the world economy, the crisis in Ukraine was one of the hottest topics at the G20. Talking about the summit’s results at a press conference, US President Barack Obama did not announce any significant changes in his country’s approach to Russia.

“We would prefer a Russia that is fully integrated with the global economy,” the US president told a news conference, adding that his country was “also very firm on the need to uphold core international principles.”

Before leaving Brisbane, Putin said that a solution to the crisis in Eastern Ukraine was possible. “Today the situation [in Ukraine] in my view has good chances for resolution, no matter how strange it may sound,” he said, as quoted by Reuters.

The Russian leader also said he was satisfied with both the results and atmosphere of the meetings.

Australian authorities created an exceptionally friendly atmosphere for discussing solutions to economic challenges at the G20 summit in Brisbane, the Russian president said, dispelling rumors there were any confrontations.

Russia’s President Vladimir Putin (L) shaking hands with members of his motorcycle escort at the airport in Brisbane as he leaves the G20 Summit.(AFP Photo / Steve Holland)

“Our Australian partners created an exceptionally friendly working atmosphere, very heartfelt, I should say, that was conducive to finding solutions to the challenges faced by the global economy,” Putin said at a forum of the All-Russian People’s Front, adding that it was a pleasant surprise for him to see the warm reception of the Russian delegation from Australian citizens on the streets of Brisbane.

Answering a question about Abbott’s idea to “shirtfront” Putin over the downing of the MH17 jetliner, the Russian president said no such confrontation took place at the Brisbane summit.

“We had very constructive discussions of not only the themes that had brought us together, but some very grave issues involving the Malaysian Boeing. We discussed that in every detail. I can assure you that everything was decent and rather friendly,” said the Russian leader.

Though many media outlets speculated that Putin had left the summit early, skipping a Sunday working breakfast because of an icy welcome at the G20, the Russian leader reiterated on Tuesday that practically all work had been finished by that time. “I addressed all sessions,” Putin said, adding: “Our stance was heard.”

Putin leaves G20 early after harsh reception

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Leaders threaten Russian president with further sanctions over Ukraine

Putin-Obama

by Nadia Prupis, Common Dreams

Russian president Vladimir Putin left the Group of 20 (G20) summit in Brisbane, Australia early, flying back to Moscow on Sunday after world leaders accused him of bullying and warned him to drop his support of separatists in Ukraine.

In meetings with British Prime Minister David Cameron and German Chancellor Angela Merkel, Putin accused the Ukrainian government of making punitive sanctions against cities in the eastern region of the country that voted for independence last month, while Cameron said Russia was “bullying a smaller state in Europe.”

President Barack Obama said the U.S. was “opposing Russia’s aggression against Ukraine, which is a threat to the world.” He added that Russia had failed to hold up its part of the ceasefire plan agreed upon in Minsk in September.

European Union President Herman von Rompuy told reporters on Saturday that foreign ministers were ready to consider additional actions against Russia. “Russia has still the opportunity to fulfill its Minsk agreements and chose the path of de-escalation, which could allow sanctions to be rolled back,” von Rompuy said. “If it does not do so however, we are ready to consider additional action.”

“We need to avoid a return to a full-scale conflict,” he added.

Obama echoed that sentiment, saying that if Russia engaged in diplomatic efforts to deescalate the fighting in Ukraine, the U.S. would suggest lifting sanctions “that are frankly having a devastating effect on the Russian economy.”

The Guardian writes:

The crisis has been deepened by the creation of the declared Donetsk People’s Republic (DNR) led by Alexander Zakharchenko, an electrician turned battalion commander. Earlier this month the region occupied by separatists for six months organised an unauthorised vote to appoint a prime minister.

The Ukrainian prime minister, Arseniy Yatsenyuk, announced in response that all state funding would be cut off, arguing that the elections violated the Minsk peace accords signed in September.

Canadian Prime Minister Stephen Harper also reportedly told Putin, “I guess I’ll shake your hand but I have only one thing to say to you: you need to get out of Ukraine.”

More than 4,000 people have been killed in that country since April, where separatist fighting has continued to escalate. The Russian government has repeatedly denied involvement in the conflict, including the downing of Malaysian airliner MH17 on July 17, killing 298 people, as it flew over rebel-held territory.

Putin denied that he was leaving over the barrage of criticism, instead saying that he needed to return to work in Moscow.

In an interview with German TV, Putin also said that additional sanctions against Russia could backfire on Western countries.

“Do they want to bankrupt our banks? In that case they will bankrupt Ukraine,” Putin said. “Have they thought about what they are doing at all or not? Or has politics blinded them? As we know eyes constitute a peripheral part of brain. Was something switched off in their brains?”

The Guardian continues:

Nato claims 300 Russian troops remain in Ukraine training the separatist forces ahead of likely fresh offensives. Several of the contested areas are crucial for the republic’s long-term survival, including the port city of Mariupol and a power station north of Luhansk….

Putin has insisted he will not cut funding to Ukraine, or demand early repayment of loans.

“We do not want to aggravate the situation. We want Ukraine to get back on its feet at last,” the president has previously said.

Although the western media has portrayed Putin as an isolated figure at the summit, he has continued to forge close relations with the Brics countries (Brazil, Russia, India, China and South Africa) a grouping that is becoming increasingly organised at the G20 and, in terms of economic size, more than matches the size of the G7 economies.

Putin "prepares for economic war", buys whopping 55 tonnes of gold in Q3

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Putin-Obama

by Tyler Durden, Zero Hedge

Just as China is buying ‘cheap’ oil with both hands and feet, so Russia, according to the latest data from The World Gold Council (WGC) has been buying gold in huge size. Dwarfing the rest of the world’s buying in Q3, Russia added a stunning 55 tonnes to its reserves, as The Telegraph reports, Putin is taking advantage of lower gold prices to pack the vaults of Russia’s central bank with bullion as it prepares for the possibility of a long, drawn-out economic war with the West.

Russia bought more gold in Q3 then all other countries combined.

As The Telegraph reports:

Vladimir Putin’s government is understood to be hoarding vast quantities of gold, having tripled stocks to around 1,150 tonnes in the last decade. These reserves could provide the Kremlin with vital firepower to try and offset the sharp declines in the rouble.

Russia’s currency has come under intense pressure since US and European sanctions and falling oil prices started to hurt the economy. Revenues from the sale of oil and gas account for about 45pc of the Russian government’s budget receipts.

In total, central banks around the world bought 93 tonnes of the precious metal in the third quarter, marking it the 15th consecutive quarter of net purchases. In its report, the World Gold Council said this was down to a combination of geopolitical tensions and attempts by countries to diversify their reserves away from the US dollar.

By the end of the year, central banks will have acquired up to 500 tonnes of gold during the latest buying spell, according to Alistair Hewitt, head of market intelligence at the World Gold Council.

“Central banks have been consistently adding to their gold holdings since 2009,”Mr Hewitt told the Telegraph.

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