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<ul class="summary-list"><li>Vladimir Putin has touted the use of local currencies — instead of the dollar —for trade.</li><li>At a trade summit, Putin said 80% of the Russia-China trade is now transacted in the yuan and the ruble.</li></ul>Russia has again touted the use of local currencies for trade — instead of the US dollar — as the country continues to face sweeping sanctions over the Ukraine war.On Tuesday, while speaking at a summit, President Vladimir Putin highlighted Russia's trade with China, which he said is now primarily settled in the Chinese yuan and ruble.This was Putin's first appearance at an international event after a <a href="https://www.businessinsider.com/wagner-group-uprising-mercenaries-moscow-putin-power-ukraine-war-2023-6" target="_blank" rel="noopener">failed mutiny</a> by the Wagner mercenary group two weeks ago. "Over 80 percent of commercial transactions between Russia and the People's Republic of China are made in rubles and yuan," Putin said, according to an <a href="http://en.kremlin.ru/events/president/news/71578" target="_blank" rel="noopener">official English transcript</a> of his speech at the annual meeting of the Shanghai Cooperation Organization, or SCO — an intergovernmental organization seen as an alternative to Western-led groupings. India hosted the virtual summit.<a href="https://markets.businessinsider.com/news/currencies/dedollarization-dollar-dominance-yuan-chinese-cross-border-transactions-usd-renminbi-2023-4" rel="">The yuan surpassed the dollar</a> as the most used currency for Chinese cross-border transactions in March this year, per a <a href="https://finance.yahoo.com/news/yuan-overtakes-dollar-become-most-111305072.html" target="_blank" rel="noopener nofollow">Reuters calculation of official Chinese data.</a>The Russian currency was used in 40% of all export transactions with SCO countries, Putin added. Founded in 2001, SCO member countries include China, Russia, India, Pakistan, Kazakhstan, the Kyrgyz Republic, Tajikistan, Uzbekistan, and Iran."I would like to stress that Russia is confidently resisting and will continue to resist external pressure, sanctions, and provocations," Putin said at the summit.Putin's push to move away from the greenback follows sweeping sanctions against Russia that have expelled the country from the US dollar-dominated global financial system.The dollar has been the world's <a href="https://crsreports.congress.gov/product/pdf/IF/IF11707" target="_blank" rel="noopener">reserve currency</a> since the Second World War, playing a crucial role in the world's trade. The tough restrictions against Russia spooked other countries so much that they are now <a href="https://www.businessinsider.com/dedollarization-usd-greenback-gold-yuan-euro-bitcoin-brics-alternate-2023-5#1-beijing-has-big-ambitions-for-the-chinese-yuan-2" target="_blank" rel="noopener">lining up backup currencies for trade.</a> This de-dollarization play suits China, <a href="https://www.businessinsider.com/dedollariztion-china-yuan-russia-oil-imports-sanctions-2023-5?utm_medium=ingest&amp;utm_source=markets" rel="">which has been trying to increase the global circulation of the yuan. </a>Sanctioned countries like Russia and emerging nations like Argentina have <a href="https://www.businessinsider.com/dedollarization-countries-us-dollar-dominance-china-yuan-rmb-brics-currency-2023-5" rel="">recently started using the yuan for trade, primarily with China</a>.Chinese President Xi Jinping also proposed to expand the use of local currencies for trade among countries in the SCO, according to an <a href="http://cpc.people.com.cn/n1/2023/0705/c64094-40028135.html" target="_blank" rel="noopener">official transcript</a> of his speech at the summit.Xi said China stands ready to work with all sides, moving toward "the right direction of economic globalization, oppose protectionism, unilateral sanctions and the overstretching of national security, and reject the moves of setting up barriers, decoupling and severing supply chains," according to an English translation of his speech carried by <a href="https://news.cgtn.com/news/2023-07-04/Full-text-of-Xi-Jinping-s-address-at-SCO-summit-1lauFEFfYIg/index.html" target="_blank" rel="noopener">state broadcaster CGTN.</a>

A defiant Putin renewed calls for countries to trade with Russia using local currencies in his first international appearance after the failed Wagner mutiny

Indian PM Narendra <keyword id="6354642" type="PERSON" weightage="100" keywordseo="Modi">Modi</keyword> has left for Tashkent where he would be taking part in the Shanghai Cooperation Organisation (SCO) summit; a greater agenda of the trip, however, would be his meeting with Chinese President <keyword id="191809" type="PERSON" weightage="100" keywordseo="Xi-Jinping">Xi Jinping</keyword>, amidst Chin’s protest against India’s push to get into the elite Nuclear Suppliers Group (NSG). 
 
The last few weeks have seen a string of high-profile Indo-China exchanges, with Foreign Secretary S Jaishankar visiting Beijing last week and currently being in Seoul for the NSG meeting. 
 
Amongst the 48 members of the group, China is largely alone when it comes to opposing India's membership, saying that India is not a part of non-proliferation treaty (NPT), thus not being eligible for NSG entry. It added that in case rules are being changed for India, Pakistan needs to be treated equally. 
 
India has major support for its entry, in the form of US that has not only urged members to back India, but has also revealed to news agency ANI how Pakistan continues to proliferate nuclear material to North Korea. 
 
Talking of SCO meet, India has so far only attended these meetings as an observer, and is now set to sign the Memorandum of Obligations and other key documents so that it can be closer to full membership in the Eurasian political and economic forum. 
 
<a href="http://www.indiawrites.org/wp-content/uploads/xi-modi.jpg">Image source</a>

PM Modi to meet Chinese President Xi Jinping amidst India’s push for NSG membership

In a bid to improve the strategic, economic and energy ties with the central Asian countries and <keyword id="6358826" type="COUNTRY" weightage="20" keywordseo="Russia">Russia</keyword>, Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> started his 8-day visit today. 
 As per an The Economic Times report, the PM, who will attend the BRICS and <keyword id="170281" type="ORGANIZATION" weightage="20" keywordseo="Shanghai-Cooperation-Organization">Shanghai Cooperation Organization</keyword> (SCO) summits, will also visit the five central Asian countries. 
 Starting from <keyword id="108488" type="COUNTRY" weightage="20" keywordseo="Uzbekistan">Uzbekistan</keyword> today, the Prime Minister will reach <keyword id="6380984" type="COUNTRY" weightage="20" keywordseo="Kazakhstan">Kazakhstan</keyword> tomorrow. After which he will travel to Russia on July 8, <keyword id="113695" type="COUNTRY" weightage="20" keywordseo="Turkmenistan">Turkmenistan</keyword> on July 10, <keyword id="47109" type="COUNTRY" weightage="20" keywordseo="Kyrgyzstan">Kyrgyzstan</keyword> on July 11 and <keyword id="169344" type="COUNTRY" weightage="20" keywordseo="Tajikistan">Tajikistan</keyword> on July 12. 
 
India is looking forward to securing a membership status of the six-nation group comprising China, Russia, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan in Russia’s Ufa. India, however, holds an observer status as of now. 
 On the other hand, the <keyword id="617785" type="UNKNOWN" weightage="20" keywordseo="BRICS-summit">BRICS summit</keyword>, world’s one of the most important economic summits will focus on increasing co-operation in economic field, which even includes the possibility of trade in local currency. 
 Apart from that, the summit might also look forward to the possibility of starting the credit facility in local currency as the <keyword id="989905" type="COMPANY" weightage="20" keywordseo="BRICS-Development-Bank">BRICS Development Bank</keyword> has already been set up. Noted Indian banker K V Kamath has been named as the first head of the bank. 
 As per a statement issued by the <keyword id="392303" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-External-Affair">Ministry of External Affair</keyword>, “During the visit to five central Asian nations, the first by an Indian Prime Minister to all of them together, the focus will be on enhancing trade, which is ‘not impressive’, and cooperation in energy and security.” 
 
Efforts to push the Turkmenistan- Afghanistan-Pakistan-India (TAPI) project have also been included in the program. The project, reportedly, is a crucial one for India's energy needs as it will carry gas from central Asia. However, it has also been hampered because of lack of physical connectivity. 
Image: indiatimes

First ever Indian PM to visit central Asian countries to boost economic and energy ties

India played an essential role in negotiating the <keyword id="15558886" type="General" weightage="20" keywordseo="G20s-Bali-Declaration" source="Orion">G20's Bali Declaration</keyword> that included Prime Minister Narendra Modi's message on the Russia-Ukraine conflict that "today's era must not be of war", the <keyword id="6356037" type="General" weightage="20" keywordseo="white-house" source="Orion">White House</keyword> has said. The G20's Bali Declaration on Wednesday acknowledged differences among members on the Russia-Ukraine war but stressed that it was essential to adhere to international law, including the protection of civilians caught in conflicts. The members of the grouping made it clear that they were against the use or threat of use of nuclear weapons and sought "peaceful resolution of conflicts." "Today’s era must not be of war," the declaration said, echoing the remark made by Prime Minister Modi during his bilateral meeting with Russian President Vladimir Putin on the margins of the SCO summit in September. "India played an essential role in negotiating the summit's declaration. Prime Minister Modi made clear today's era must not be of war," White House Press Secretary Karine Jean-Pierre told reporters at her daily news conference on Friday. "Among other priorities addressed, we have a path forward to addressing current food and energy security challenges while continuing our efforts to build a resilient global economy," she said. US President Joe Biden returned from Indonesia on Thursday after attending the <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 Summit</keyword> in Bali. India takes over the presidency of G20 in December, which all its members and international community say would be an important milestone in the history of the grouping. "Prime Minister Modi's relationship was critical to this outcome, and we look forward to supporting India's G-20 presidency next year. We look forward to that next meeting," Jean-Pierre said. She said Biden spoke with Modi and Indonesian President Joko Widodo on the margins of the summit. The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union. Collectively, the G20 accounts for 85 per cent of the global GDP, 75 per cent of international trade, and two-thirds of the world population, making it the premier forum for international economic cooperation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/rishi-sunak-says-uk-is-committed-to-working-quickly-on-free-trade-agreement-with-india/articleshow/95604742.cms">Rishi Sunak says UK is committed to working quickly on free trade agreement with India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jio-5g-services-now-available-across-delhi-ncr-says-reliance/articleshow/95603079.cms">Jio 5G services now available across Delhi-NCR, says Reliance</a>

India played essential role in negotiating G20 declaration: White House

Defence Minister <keyword id="6355121" type="UNKNOWN" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> on Wednesday arrived here on a three-day visit to Russia to attend a crucial meeting of the Shanghai Cooperation Organisation (SCO) and hold talks with his Russian counterpart Sergey Shoigu on further boosting bilateral defence cooperation. The defence ministers of all eight SCO member nations are expected to deliberate on regional security challenges like terrorism and extremism and ways to deal with them collectively here on Friday, officials said. "Raksha Mantri Shri @rajnathsingh reached Moscow on a three day visit to Russia. He was received by Major General Bukhteev Yury Nikolaevich at the airport," the Indian embassy tweeted. The meeting is taking place under the shadow of a fierce border row between India and China, both members of the influential bloc. "Reached Moscow this evening. Looking forward to my bilateral meeting with the Russian Counterpart General Sergey Shoygu tomorrow," Defence Minister Singh tweeted. The SCO comprises eight member states -- India, Kazakhstan, China, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan. Chinese Defence Minister Gen Wei Fenghe and Pakistan's Pervez Khattak are expected to attend the SCO meeting. Asked about the possibility of a bilateral meeting between Singh and Wei on the sidelines of the SCO event, officials said there is no such plan. Before departure, Singh in a tweet said that issues of mutual interest will figure in his talks with Shoigu. "India and Russia are privileged Strategic Partners. Looking forward to further this partnership during my visit," he said. In his meeting with Shoigu, Singh will press for expediting supply of a number of weapons systems, ammunition and spares to India by Russia under contracts which were concluded earlier, officials said. In the talks, both sides are expected to officially finalise a long-pending proposal to produce AK 203 rifles in India. The officials said Singh is also likely to request the Russian side to ensure the timely delivery of the S-400 missile defence systems to India. The delivery of the first batch of S-400 surface-to-air missile systems to India is scheduled by the end of 2021. It is Singh's second visit to Moscow since June. He had represented India at the Victory Day Parade in Moscow on June 24 that commemorated the 75th anniversary of the Soviet victory over Nazi Germany in the Second World War. The SCO, seen as a counterweight to NATO, has emerged as one of the largest transregional international organisations which accounts for almost 44 per cent of the world population stretching from the Arctic Ocean to the Indian Ocean and from the Pacific Ocean to the Baltic Sea. The aim of the SCO is to maintain peace, stability and security of the region. India became a member of the SCO in 2017. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/rise-in-work-from-anywhere-will-lead-to-more-outsourcing-thats-an-opportunity-for-tcs-infosys-and-hcl-tech/articleshow/77864248.cms">TCS, Infosys and HCL Tech have the most to gain from post COVID wave of outsourcing</a> <a href="https://www.businessinsider.in/tech/apps/news/india-bans-pubg-wechat-and-118-other-mobile-applications/articleshow/77890776.cms">India bans PUBG, Ludo World, and 116 other Chinese mobile applications</a> <a href="https://www.businessinsider.in/india/news/pm-modi-twitter-account-hacked-heres-what-the-hacker-had-tweeted/articleshow/77902203.cms">Twitter account of PM Modi’s personal website hacked— Here’s what the hacker had tweeted</a>

Rajnath Singh reaches Russia for SCO meet under shadow of India-China border row

Indian <keyword id="6354814" type="UNKNOWN" weightage="100" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword> met his Pakistani counterpart Nawaz Sharif in Ufa, on the sidelines of the <keyword id="157954" type="ORGANIZATION" weightage="100" keywordseo="Shanghai-Cooperation-Organisation">Shanghai Cooperation Organisation</keyword> (SCO) Summit. 
The two premiers shook hands before sitting down for delegation-level talks. 
 
Reportedly, Indian delegation included National Security Advisor Ajit Doval and Foreign Secretary S Jaishankar while Sartaj Aziz, Sharif's advisor on foreign affairs and national security, was in the Pakistani delegation. 
 
The previous night, Modi and Sharif had exchanged pleasantries and chatted briefly at the dinner hosted by Russian President Vladimir Putin for leaders of five BRICS nations and 10 SCO nations in Ufa. 
 
It is expected that Modi and Sharif will discuss the status of the bilateral ties and the future direction. 
 
However, Indian government sources told Economic Times that Modi-Sharif talks need not be construed a prelude to a resumption of the dialogue process between the two countries. 
 
Pakistan foreign office spokesperson Qazi Khalilullah said that it has always been (Pakistan) Prime Minister's policy to seek cordial and cooperative ties with all neighbouring countries including India. “It was in the pursuit of this objective that the prime minister would be meeting the Indian prime minister for a comprehensive exchange on all issues of common interest,” he had said. 
 
Meanwhile, sources indicated ET that Modi will strongly raise India's concerns on militancy with Pakistan and that all outstanding issues including inaction against Hafiz Saeed and 26/11 mastermind Zakiur Rehman Lakhvi. 
 
Modi and Sharif had met in Kathmandu last year for the SAARC Summit but they did not have a bilateral meeting over acrimony between the two countries at that time.

Modi, Sharif meet, chit-chat on the sidelines of SCO Summit in Ufa

India and <keyword id="1334" type="COUNTRY" weightage="20" keywordseo="China">China</keyword> have agreed on a five-point plan for resolving the prolonged border face-off in eastern Ladakh that included abiding by all existing agreements and protocol on management of the frontier, maintaining peace and tranquility and avoiding any action that could escalate matters. The two countries agreed to the plan during talks between <keyword id="5263" type="POSITION" weightage="20" keywordseo="External-Affairs-Minister">External Affairs Minister</keyword> S <keyword id="236448" type="PERSON" weightage="20" keywordseo="Jaishankar">Jaishankar</keyword> and his Chinese counterpart Wang Yi in Moscow on Thursday evening on the sidelines of a Shanghai Cooperation Organisation (SCO) meet. The Indian Army and the Chinese People's Liberation Army(PLA) have been locked in a tense standoff in multiple areas along the Line of Actual Control(LAC) in eastern Ladakh since early May. The Ministry of External Affairs(MEA) issued a joint press statement early on Friday featuring five points which were agreed by both the sides at the "frank and constructive" discussions by the two ministers. "The two foreign ministers agreed that the current situation in the border areas is not in the interest of either side. They agreed, therefore, that the border troops of both sides should continue their dialogue, quickly disengage, maintain proper distance and ease tensions," it said. The joint statement said Jaishankar and Wang agreed that both sides should take guidance from the series of consensus reached between leaders of the two countries on developing India-China relations, including not allowing differences to become disputes. This assessment was a clear reference to decisions taken by Prime Minister Narendra Modi and Chinese President Xi Jinping at their two informal summits in 2018 and 2019. "The two ministers agreed that both sides shall abide by all the existing agreements and protocol on China-India boundary affairs, maintain peace and tranquility in the border areas and avoid any action that could escalate matters," the joint statement said. At the talks, Jaishankar and Wang agreed that as the situation eases on the border, the two sides should expedite work to conclude new confidence building measures to maintain and enhance peace and tranquility in the border areas. The joint statement said the two sides also agreed to continue to have dialogue and communication through the Special Representative(SR) mechanism on the India-China boundary question. "They also agreed in this context that the Working Mechanism for Consultation and Coordination on India-China border affairs (WMCC) should also continue at its meetings," it added.

India-China are now betting on a 5-point plan to resolve border row

<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>While Ukraine is the central point of conflict between Russia and NATO, economics may be the next battlefront.According to Robert Dannenberg, a Goldman Sachs security analyst and CIA veteran, Russia's President Vladimir Putin recognizes the importance of gaining power through international economic agencies. "Putin is conservative and nostalgic, but he also understands that it takes more than just rebuilding or modernizing your nuclear arsenal to create a bi-polar world. You need to have economic power," Dannenberg said during a Q&amp;A in a Goldman note.Russia seems far from realizing these goals. Lowered oil prices and economic sanctions by NATO due to the Ukraine conflict have crippled the Russian economy in the past few years.The country's bonds have been <a href="http://www.businessinsider.com/moodys-cuts-russia-to-junk-2015-2">downgraded to junk status</a>, and its <a href="http://www.businessinsider.com/afp-russian-q1-economic-contraction-less-than-feared-at-1.9-2015-5">GDP contracted 1.9%</a> in the first quarter of 2015. It does not seem that Russia is ready to flex its economic muscle. In spite of the weak economy, Russia is attempting to boost its fortune by allying with more friendly economic powers, particularly China, and burgeoning markets.According to Dannenberg, Putin's plan is twofold. The first objective is to create closer formal ties with countries that have similar economic interests. Last week Russia hosted the BRICS summit, a meeting of economic and political leaders from the growing powers of Brazil, India, China and South Africa. Russia is also a member of the Shanghai Cooperation Organization (SCO), which has 14 members including China, India, Iran, Pakistan and Turkey.They've even <a href="http://www.businessinsider.com/greece-is-flirting-with-russia-to-make-europe-jealous-2015-7">begun to court Greece</a> as an economic partner in Europe.Obviously based on those membership lists, Russia's main focus is maintaining strong ties with China. Dannenberg highlighted this the most important part of Putin's economic plan. <div class="KonaFilter image-container display-table float_left"><div><div class="image"></div></div></div>"Putin knows that Russia's relative economic weakness means there is no possibility of achieving his vision without China's participation," said Dannenberg.He noted that Putin is willing to make serious concessions to achieve the goal."It is why he agreed to a natural gas deal with China in the spring of 2014 despite very disadvantageous terms for Russia," he said.In November, Russia and China struck a <a href="http://www.businessinsider.com/russia-signs-gas-supply-deal-with-china-2014-11">deal to create pipelines</a> from Siberia into China and transport up to 38 billion cubic meters of gas a year and in April, Russia <a href="http://www.businessinsider.com/r-learning-mandarin-in-the-tundra---russia-invites-china-into-oil-business-2015-4">sold a stake</a> in its Vankor oil fields to the Chinese in an unprecedented move.Russia plans take aim at international economic institutions Putin believes are controlled by NATO nations. Here's Dannenberg:This notion has already been picked up by the Chinese, who in recent months have made a push for the yuan's inclusion in the <a href="http://www.businessinsider.com/r-china-knocking-on-door-of-imfs-major-league-us-wavers-2015-4">IMF's Special Drawing Rights</a> as a reserve currency or even pushing to use the SDR as the base for all investment instead of the US dollar.By connecting with China and other markets, Putin is expanding his conflict with the West from the streets of Ukraine to the economic markets of the world. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/amazing-facts-about-vladimir-putin-russia-president-2015-3">11 amazing facts about Vladimir Putin </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="k4NTY1dDqFCsBpfiPjzGEUMzJURbWO-R" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Putin knows his military muscle isn't much without economic muscle

Army chief general <keyword id="7912696" type="COMPANY" weightage="20" keywordseo="M-M-Naravane">M M Naravane</keyword> on Tuesday said that he was hopeful that the Indian and Chinese militaries will be able to reach an agreement on disengagement and de-escalation of tension in eastern Ladakh. In an address at a seminar, the army chief said senior military commanders of India and China are holding talks to iron out modalities for deescalation of tension in eastern Ladakh. "We are hopeful of reaching an agreement which is mutually acceptable and is really beneficial in keeping with the overarching policy guidelines," he said. The chief of Army staff also said that the situation in eastern Ladakh is quite stable. General Naravane was speaking at a conclave organised by Bharatshakti.in, a portal on defence and military issues. Referring to Indian troops deployed in the high-altitude region, he said they are equipped with appropriate clothing and weapons, and added that there is no shortage whatsoever. India and China are likely to hold another round of military talks to discuss specific proposals for a possible breakthrough in the long-negotiated disengagement process in eastern Ladakh. The eighth round of Corps Commander-level talks on Friday had broadly discussed disengagement of troops from specific friction points and both sides would like to take forward the "constructive" dialogue to the next round with detailed deliberations, sources had said. In a joint statement released earlier on Friday, the <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> and the Chinese People's Liberation Army (PLA) described the talks as candid, in-depth and constructive. The statement said it was agreed to earnestly implement the important consensus reached by the leaders of the two countries and ensure that the frontline troops exercise restraint and avoid misunderstanding and miscalculation. Nearly 50,000 troops of the Indian Army are currently deployed in a high state of combat readiness in various mountainous locations in eastern Ladakh in sub-zero conditions as multiple rounds of talks between the two sides have not yielded any concrete outcome yet to resolve the standoff. China has also deployed an equal number of troops, according to officials. The standoff between the two sides erupted in early May. SEE ALSO: <a href="https://www.businessinsider.in/politics/india/news/checkout-here-bihar-assembly-election-2020-results-and-updates-online/articleshow/79142084.cms">Bihar Election Results 2020: NDA widens its lead while RJD remains the single largest party</a> <a href="https://www.businessinsider.in/defense/news/prime-minister-modi-hits-out-pakistan-and-china-during-sco-summit-attempts-are-being-made-to-rake-bilateral-issues/articleshow/79148767.cms">Prime Minister Modi takes a dig at Pakistan and China during SCO summit — ‘attempts are being made to rake up bilateral issues’</a> <a href="https://www.businessinsider.in/tech/apps/news/instagram-down-users-complain-of-frozen-timelines-and-likes/articleshow/79146012.cms">Instagram down for over four hours— users complain of frozen timelines and likes</a>

Indian Army chief Naravane is hopeful of de-escalation of tensions between India and China in eastern Ladakh

<keyword id="1369228" type="PERSON" weightage="20" keywordseo="Chinese-defence-minister">Chinese Defence Minister</keyword> <keyword id="9878925" type="UNKNOWN" weightage="20" keywordseo="wei-fenghi">Wei Fenghi</keyword> is understood to have sought a meeting with his Indian counterpart <keyword id="6355121" type="UNKNOWN" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> on the sidelines of a key Shanghai Cooperation Organization (SCO) meet in Moscow, people familiar with the development said on Thursday. Indian and Chinese troops are engaged in a tense border row in eastern Ladakh for nearly four months now. Singh and Wei are currently in Moscow to attend a meeting of SCO defence ministers on Friday. According to information, the Chinese side conveyed to the Indian mission its keenness to have a meeting between the two defence ministers. However, there is no official confirmation about it. Tensions flared in eastern Ladakh after China unsuccessfully attempted to occupy Indian territory in the Southern Bank of Pangong lake four days back when the two sides were engaged in diplomatic and military talks to resolve the festering border row. India occupied a number of strategic heights on the southern bank of Pangong lake and strengthened its presence in Finger 2 and Finger 3 areas in the region to thwart any Chinese actions. China has strongly objected to India's move. India has also rushed in additional troops and weapons to the sensitive region following the Chinese attempts. India on Thursday said the border tension in Ladakh over the past four months is a "direct result" of Chinese actions aimed at effecting unilateral change in the status quo of the region, and asserted that the only way forward to resolve it was through negotiations. The comments by the Ministry of External Affairs(MEA) that squarely put the blame on China for the prolonged border standoff came even as Chief of Defence Staff(CDS) Gen. Bipin Rawat asserted that India's armed forces are capable of handling aggressive Chinese actions in "best suitable ways". SEE ALSO: <a href="https://www.businessinsider.in/defense/news/india-says-border-situation-is-a-direct-result-of-chinese-actions-as-it-repositions-troops-in-ladakh/articleshow/77913259.cms">India says border situation is a ‘direct result’ of Chinese actions as it repositions troops in Ladakh</a> <a href="https://www.businessinsider.in/tech/apps/news/india-bans-pubg-wechat-and-118-other-mobile-applications/articleshow/77890776.cms">India bans PUBG, Ludo World, and 116 other Chinese mobile applications</a> <a href="https://www.businessinsider.in/finance/banks/news/interim-relief-from-supreme-court-on-loan-moratorium-says-banks-must-not-declare-accounts-as-npas-for-two-months/articleshow/77910763.cms">Interim relief from Supreme Court on loan moratorium — says banks must not declare accounts as NPAs for two months</a>

Chinese Defence Minister understood to have sought meeting with Rajnath Singh amid border tensions

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Murad Sezer/ReutersRussia's President Vladimir Putin (L) and Turkey's Prime Minister Tayyip Erdogan attend a news conference in Istanbul December 3, 2012.</div></div></div>Turkey is looking into joining a Chinese- and Russian-led alliance known as the Shanghai Cooperation Organization (SCO), Turkish President Recep Tayyip Erdogan <a href="http://www.dailysabah.com/diplomacy/2016/11/20/tired-of-eus-delaying-tactics-erdogan-points-to-shanghai-pact">told reporters Sunday</a> at the end of his official tour of Pakistan and Uzbekistan. Erdogan said that he met with SCO leaders over the weekend and expressed his interest in joining the Eurasian political, economic, and military alliance as an alternative to joining the European Union, which has not been receptive to Turkey's repeated bids for membership that began in 1963.France, Germany, and Belgium - home to Brussels, where the EU is headquartered - <a href="https://www.theguardian.com/politics/2016/may/22/vote-leave-turkey-warning-ignorance-european-realities">have long opposed</a> Turkey's accession into the EU. Erdogan's reluctance to sign on to certain membership requirements, and his increasingly authoritarian leadership over Turkey, has also sparked concern among European leaders that he is not committed to a Western conception of human rights and civil liberties. Thousands of Turkish civil servants - as well as military personnel, police officers, academics and teachers - have been purged or arrested on suspicion that they were associated with a failed coup attempt against Erdogan and his ruling Justice and Development Party (AKP) in July. <div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Kenan GurbuzOne of the 11 fugitive commandos who attempted the coup in Turkey is arrested.</div></div></div>Dozens of journalists, primarily working for opposition newspapers, have also been arrested since the attempted coup, while several opposition outlets have been shut down altogether.Erdogan insisted in a recent interview with "60 Minutes" that "these measures are being taken by prosecutors and judges in full accordance with the rule of law." But the crackdown has led the European Commission <a href="http://www.politico.eu/article/europe-warns-turkeys-democracy-is-backsliding/">to warn Turkey that it is "backsliding"</a> in human rights and democracy - an accusation at which Erdogan appeared to scoff."From time to time, we see insults directed at myself, claims that there was no freedom of expression in Turkey," Erdogan <a href="http://www.dailysabah.com/diplomacy/2016/11/20/tired-of-eus-delaying-tactics-erdogan-points-to-shanghai-pact">said</a> Sunday."Meanwhile, terrorists prance around in French, German and Belgian streets. This is what they understand of freedom."<h2>A rejection, or a bluff?</h2>Increasing disenchantment with the EU and the perception that he is being lectured to by the US - which supports anti-ISIS Syrian Kurds viewed by Turkey as terrorists - has apparently spurred Erdogan to look east, where his domestic policies have not been heavily scrutinized or condemned."Erdogan feels much more comfortable and at home among the authoritarian regimes of the Shanghai Cooperation Organization rather than facing the scrutiny and criticism of the European family of nations," Aykan Erdemir, an expert on Turkey and senior fellow at the Foundation for <keyword id="6354810" type="ORGANIZATION" weightage="100" keywordseo="Defense">Defense</keyword> of Democracies, told Business Insider on Monday. Joining or even threatening to join the Shangai bloc, moreover - which is heavily influenced by Russia and China - would rattle the West and, as Erdogan said on Sunday, "considerably broaden Turkey's room to maneuver."<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZ5M578U2&amp;SMLS=1&amp;RW=1239&amp;RH=850#/SearchResult&amp;VBID=2C0BXZ5M578U2&amp;SMLS=1&amp;RW=1239&amp;RH=850&amp;PN=2&amp;POPUPPN=93&amp;POPUPIID=2C0BF1O7XF9MR">Reuters/POOL New</a>Chinese President Xi Jinping (R) shakes hands with Turkey's President Recep Tayyip Erdogan, as they attend a signing ceremony at the Great Hall of the People in Beijing, China.</div></div></div>"If Turkey were to actually join the SCO, it would of course drastically alter relations with the US and NATO," Middle East analyst Michael Koplow, policy director of the Israel Policy Forum, told Business Insider on Monday."It would be viewed as a rejection of the Western alliance, and make it incredibly difficult to include Turkey in any type of high-level strategic dialogue, given concerns about Russian expansionism," he added, saying Turkey, unlike other NATO members, is already a partner country to SCO dialogue.Still, many analysts are skeptical that Erdogan is prepared to put his money where his mouth is. He <a href="http://www.businessinsider.com/russia-turkey-rapprochement-2016-10">has been flirting </a>heavily and publicly with Russia since the summer, but it is unclear whether a closer alliance with Russia and China would benefit Turkey politically or economically. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Osman Orsal/ReutersRussia's President Vladimir Putin (front L) and Turkey's Prime Minister Tayyip Erdogan (front R), with Foreign Ministers Sergei Lavrov of Russia (L) and Ahmet Davutoglu (C) of Turkey in the background. Davutoglu has since been replaced by Binali Yıldırım.</div></div></div>"Erdogan's weathervane foreign policy characterized by frequent U-turns is not based neither on values nor principles," said Erdemir, a former member of Turkish parliament. He noted that Erdogan made the same announcement about possible SCO membership during a November 2013 meeting with Putin, yet never acted on it.Michael Kofman, an expert on Russian and Eurasian affairs and fellow at the Wilson Center, said that the SCO is "not a cohesive economic or political block" and would offer little to Turkey in practice other than to "instill the perception that the West is somehow 'losing Turkey' and should chase Erdogan to get it back."<h2>'A rogue and dysfunctional' ally</h2>Complicating the Western temptation to write off Erdogan's comments as empty threats, however, is Turkey's recent deal with the EU to help stem the flow of refugees trying to enter Europe from Syria. "Erdogan knows that the EU views Turkey as critical to staunching the flow of refugees into Europe," said Koplow of the Israel Policy Forum. "He has a long history of making these types of threats in order to pressure Europe into concessions of various sorts. It's a gambit that will probably be successful if recent history is any guide."Over the summer, the EU agreed to pay Turkey €3 billion - and German Chancellor Angela Merkel promised to speed up Turkey's EU bid - if Turkey pledged to harbor the vast amount of refugees and migrants seeking asylum in Europe.<div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersA US Air Force F-15E Strike Eagle from the 48th Fighter Wing lands at Incirlik Air Base, Turkey. Turkey gave the US permission to use Incirlik as a base for anti-ISIS operations in July 2015.</div></div></div>Turkey's entry into the SCO would also complicate its relationship with NATO. "In theory, SCO membership would not require Turkey's exit from NATO," geopolitical expert Ian Bremmer, president of the political risk firm Eurasia Group, told Business Insider on Tuesday. "In practice, however, it would severely strain Ankara's ties with other NATO members."Ultimately, however, Bremmer believes Erdogan is just looking for leverage."Erdogan wants the US to rely less on the Syrian Kurds, and to extradite Gulen, rather than a signal of a historic and strategic shift away from the West," he said, noting that many existing SCO members don't necessarily even want Turkey to join."Erdogan himself said yesterday relations with the US and NATO are on track, so I think there's lots of smoke, no fire here," he added.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersTurkey's President Erdogan arrives for the NATO Summit in Warsaw</div></div></div>Indeed, Erdogan told CBS over the weekend that Turkey is "moving in the same direction with NATO that we have always done." But July's failed coup appears to only have made him more determined to stomp out dissent, whether it's coming from his own citizens or from the international community.The FDD's Erdemir, meanwhile, predicted that Turkey's "gradual drift from NATO" will continue."Putin will make sure that this is a slow and painful process for Turkey and the transatlantic alliance," he said. "He knows that as a rogue and dysfunctional NATO ally, Turkey is of greater use to Moscow than as a defector to the Shanghai Cooperation Organization." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/navy-seal-hell-week-training-2016-11">Forget 'Hell Week' - a Navy SEAL reveals the hardest part of training</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="h0Z29hMzE6L-FUbTLLal5qmV-po1eCpa" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

NATO's second-largest military power is threatening a dramatic pivot to Russia and China

<ul class="summary-list"><li>Members of the Shanghai Cooperation Organization are meeting in Kazakhstan Wednesday. </li><li>It comes amid increasing tensions between two of the group's most powerful members. </li></ul>The leaders of a club of countries touted by Russia and China as a counterweight to Western global power are meeting this week in Kazakhstan.At the Shanghai Cooperation Organization (SCO) in Kazakhstan's capital Astana, Russia's President Vladimir Putin is scheduled to meet China's President Xi Jinping.<a target="_blank" href="https://www.reuters.com/world/putin-arrives-kazakhstan-russia-china-dominated-sco-summit-2024-07-03/">During their discussion, they will reportedly </a>seek ways to expand the organization as part of their shared mission to roll back US global power.But despite their "no limits" partnership brokered over shared enmity toward the US and its NATO allies, there are growing differences between frenemies Putin and Xi.<h2 id="0cd26d3b-51d1-4175-99ae-48c549e8681e">Ukraine has shifted the balance of power</h2>The leaders are in fierce competition for influence over the original members of the SCO — the Central Asian Republics of Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.The SCO was formed as a regional security pact, but has in recent years expanded to include India, Pakistan, and Iran. Belarus, another opponent of NATO, is expected to be admitted this week.The Central Asian republics were formerly part of the Soviet Union and are seen as traditionally part of the Kremlin's sphere of influence.But the Ukraine war has shifted the balance of power.Russia's Ukraine invasion has eaten up the Kremlin's resources, money, and energy, while countries trading with Russia run the risk of incurring Western sanctions.Meanwhile, Beijing has been quietly seizing advantage, brokering trade deals, and building political influence in the region."The war in Ukraine has proven to the central Asian countries that the diversification of their ties with the world is key to their successful existence in the region," Temur Umarov, a fellow at the Carnegie Russia Eurasia Center, <a target="_blank" href="https://www.theguardian.com/world/article/2024/jul/03/xi-jinping-central-asia-trip-china-vies-regional-influence-russia">told The Guardian.</a>China is building car plants and power stations in Ukbekistan and Kazakhstan, brokering surveillance software deals, and expanding its direct railway line into Kazakhstan, to further strengthen trade links.Trade between China and Central Asia grew by 27% in 2023 to $89 billion, <a target="_blank" href="https://eurasianet.org/china-reports-robust-trade-growth-with-central-asian-states">according to Chinese customs data.</a>Although Russia is likely to be concerned by the developments, it cannot do much about them.<h2 id="70abeace-ebc2-43fc-a254-07ca4ddc7271">A lopsided partnership</h2>Russia has become increasingly dependent on China for diplomatic and economic support amid attempts by the West to isolate it over the Ukraine war."The importance of Chinese aid and indirect support for Ukraine takes precedence for Moscow and will shape its approach toward Beijing as long as the confrontation with the West continues," wrote Emil Avdaliani, a professor of international relations at European University in Tbilisi, in January for <a target="_blank" href="https://cepa.org/article/china-uses-crises-to-build-central-asia-influence/">the Centre for European Policy Analysis.</a>Russia is seeking to strengthen trade with the Central Asian republics and, according to reports, is using them to obtain goods banned under Western sanctions. But it can't compete with China's economic might.While Russia has brandished its ties with China as proof of the failure of the West to isolate it, it's a friendship that comes at a steep cost."We are friends with Russia but at the same time, we are looking for opportunities," Mirshohid Aslanov, founder of the Tashkent-based think tank Center for Progressive Reform, told <a target="_blank" href="https://www.wsj.com/world/beijing-and-moscow-go-from-no-limits-friendship-to-frenemies-in-russias-backyard-52b3f1a4?st=4s1fan3skw96t37&amp;reflink=desktopwebshare_permalink">The Wall Street Journal.</a> "Very eagerly, we are looking eastwards."

Russia's frenemy China is quietly trying to dampen Putin's influence

<keyword id="6748662" type="UNKNOWN" weightage="20" keywordseo="rjd-leader-tejashwi-yadav">RJD leader Tejashwi Yadav</keyword> won his <keyword id="483176" type="PERSON" weightage="20" keywordseo="Raghopur">Raghopur</keyword> seat by a margin of over 38,000 votes in the result announced late Tuesday night. According to the Election Commission, Tejashwi defeated <keyword id="58687" type="ORGANIZATION" weightage="20" keywordseo="Bharatiya-Janata-Party">Bharatiya Janata Party</keyword>'s Satish Kumar by a margin of 38,174 votes. <div type="Article" hostid="261" msid="79142084" title="Bihar Election Results 2020: Election Commission hopes to wrap up the counting process in another hour as NDA continues to lead" mstype="2" mssubtype="0"></div> Tejashwi, who was also the Mahagathbandhan's chief ministerial candidate, had won the Raghopur seat, a pocketborough of the RJD, on his poll debut in 2015 too when the victory margin was 22,733 votes. LJP candidate Rakesh Raushan bagged nearly 25,000 votes in the seat. Tejashwi's elder brother <keyword id="6355331" type="PERSON" weightage="20" keywordseo="tej-pratap-yadav">Tej Pratap Yadav</keyword> also won from Hasanpur seat by over 21,000 votes. However, the NDA seems to be headed for a majority against the Grand Alliance as per the latest trends and results. Raghopur has been represented by Tejashwi's parents <keyword id="21259" type="COMPANY" weightage="20" keywordseo="Lalu-Prasad">Lalu Prasad</keyword> and Rabri Devi, both former chief ministers, in the past. SEE ALSO: <a href="https://www.businessinsider.in/politics/india/news/checkout-here-bihar-assembly-election-2020-results-and-updates-online/articleshow/79142084.cms">Bihar Election Results 2020: NDA widens its lead while RJD remains the single largest party</a> <a href="https://www.businessinsider.in/defense/news/prime-minister-modi-hits-out-pakistan-and-china-during-sco-summit-attempts-are-being-made-to-rake-bilateral-issues/articleshow/79148767.cms">Prime Minister Modi takes a dig at Pakistan and China during SCO summit — ‘attempts are being made to rake up bilateral issues’</a> <a href="https://www.businessinsider.in/tech/apps/news/instagram-down-users-complain-of-frozen-timelines-and-likes/articleshow/79146012.cms">Instagram down for over four hours— users complain of frozen timelines and likes</a>

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