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Month: August 2024

India surpasses China to become Russia’s top oil buyer in July

India overtook China as the world’s biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed. Russian crude made up a record 44% of India’s overall imports last month, rising to a record 2.07 million barrels per day, 4.2% higher than in June and 12% more than a year ago, data on Indian shipments from trade and industry sources showed.

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Ukraine’s parliament ratifies ICC’s Rome Statute

Ukraine’s parliament ratified the Rome Statute of the International Criminal Court (ICC). It will come into force 60 days after being received by the UN Secretary-General. The ratification was adopted with a caveat that Ukraine would not recognise the court’s jurisdiction over Ukrainian citizens in the case of war crimes for 7 years following its official adoption.

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Sanctions on Russia Hurt Neighbor So Much It Won’t Always Comply

Kazakhstan is drawing a new line in its enforcement of sanctions targeting Russia, vowing to put its own economic interests first as it also deepens trade ties with countries from Iran to China. The Central Asian nation “won’t blindly follow the sanctions” if they affect domestic companies that function as the main employers in their areas” – Bloomberg.

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