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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTransshipments are 'big question' for Biden's EV policy, economist saysDerek Scissors, Asia economist at the American Economist Institute, discusses U.S. President Joe Biden's plan to quadruple tariffs on Chinese electric vehicles, and says "if there are transshipment barriers, then you're going to get a very serious Chinese response."
Persons: Derek Scissors, Joe Biden's Organizations: Biden's EV, American Economist Institute Locations: Asia
Crude oil accounts for about a third of India's overall imports by value. Access to cheap Russian oil enabled India to cut imports from the Middle East, where prices strengthened following Saudi Arabia's voluntary additional supply cuts since July. India imported 69.06 million metric tons of Russian oil, equivalent to 1.85 million barrels per day (bpd), between January and September, commerce ministry data showed, including Russian oil imported from South Korea, Greece and Spain through transshipments. The average price for Russian oil delivered to Indian refiners was $525.60 per ton during that period, including shipping and insurance costs, Reuters calculations based on ministry data showed. Discounted Russian oil cuts India's crude import billIndia saved at least $2 billion in buying discounted Russian oilBy importing Russian oil, Indian refiners benefit from lower feedstock costs, which have buoyed gross refining margins and curtailed revenue loss from subsidised retail fuel sales.
Persons: Dado Ruvic, India doesn't, Nidhi Verma, Florence Tan, Tony Munroe, Christina Fincher Organizations: REUTERS, Saudi, Iraq, Saudi Arabia, Thomson Locations: DELHI, India, Europe, Moscow, Ukraine, South Korea, Greece, Spain, transshipments, Russia, Saudi, Sokol, China
Russia lost several combat aircraft to crashes in the final months of 2022. The question is what has changed in Russian aircraft reliability and maintenance? The site where a Russian military aircraft crashed into a residential building in the city of Irkutsk on October 23. REUTERS/StringerFor example, measuring the impact of mobilization on Russian manufacturing is difficult, as is determining how many aircraft parts Russia is covertly importing. In the end, Russian aircraft maintenance may face a mix of problems.
Customs will be closely looking at these supply chains as well, Mr. Silvers said. PREVIEWThe agency, for example, is experimenting with DNA testing technology that could be used on apparel to see if its cotton ultimately can be traced back to Xinjiang, Mr. Silvers said. Despite the toughened requirements under the forced-labor law, the U.S. government is working with businesses to help facilitate legitimate trade, he said. CTPAT membership will now include checks for forced-labor compliance, and companies that participate in the program will get priority treatment, Mr. Silvers said. Mr. Silvers said the U.S. also is working to compile a list of best practices and frequently asked questions to help address concerns from businesses about how enforcement of the forced-labor law will unfold.
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