DailySA: India sides with Russian oil against U.S. sanctions – Forward Observer

DailySA: India sides with Russian oil against U.S. sanctions

Good morning. Here’s your Daily Situational Awareness for Wednesday, 09 November 2022.


INDIA DOUBLES DOWN ON RUSSIAN OIL: Speaking at a news conference in Moscow, Indian Foreign Minister Subrahmanyam Jaishankar announced India would continue its expansion of trade ties with Russia, saying ongoing oil and gas deals with Russia were in India’s best interest. Citing Russia’s track record as a “steady and time-tested partner,” Jaishankar rejected the notion that India would participate in planned Russian oil price caps, saying existing deals with Russia had “worked to our advantage,” which was something he “would like to keep going.”

CHINA CANCELS ADDRESS BY EU PRESIDENT OVER UKRAINE WAR COMMENTS:  European Union officials accused China of canceling a planned address by European Union President Charles Michel at last week’s China International Import Expo (CIIE) over content regarding the war in Ukraine. Spokespersons from Michel’s office indicated they had been informed that Michel’s pre-recorded video address, which called on China to use its “’no-limits partnership” to pressure Russia into stopping the war, would not be shown at the event. 

MEXICO ANNOUNCES PLAN FOR 15% MINIMUM WAGE HIKE TO OFFSET INFLATION: Seeking to reduce economic pressures faced by Mexican citizens, Mexican president Andres Manuel Lopez Obrador (AMLO) announced a plan to increase the minimum wage in the country to outpace rising inflation. AMLO said his government was actively examining a proposal by Mexico’s Coparmex business lobby to increase wages by 15% and expected Mexico’s National Minimum Wage Commission to finalize a decision in December. 

BOLSONARO TO SERVE AS HEAD OF OPPOSITION PARTY: Brazil’s right-wing political party, the Liberal party, announced outgoing Brazilian President Jair Bolsonaro will serve as the “Honorable President” of the party starting on 01 January 2023. Current Party Leader Valdemar Costa Neto announced that in addition to this honorific role as the head of the party, Bolsonaro will also be the party’s candidate for the next election in 2026, saying “Bolsonarismo” (the name given to Brazil’s conservative movement), was growing. Brazil’s Liberal Party is poised to be the main opposition to Luiz Inacio Lula da Silva’s incoming presidency, having secured a position as the largest party in the Brazilian Congress.

In today’s Early Warning, the team provides analysis of geopolitical events and offers more intel on domestic activities. Get access to the full brief here: https://forwardobserver.com/subscribe

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