US sanctions on Russian oligarchs miss richest of rich
India Today
US sanctions target Russian President Vladimir Putin and a handful of individuals believed to be among his closest security advisers, including Foreign Minister Sergey Lavrov.
The term Russian oligarch conjures images of posh London mansions, gold-plated Bentleys and sleek superyachts in the Mediterranean, their decks draped with partiers dripping in jewels.
But the raft of sanctions on oligarchs announced by President Joe Biden this week in response to the invasion of Ukraine may do little to dim the jet-setting lifestyles of Russia's ultra-rich and infamous much less force a withdrawal of tanks and troops.
US sanctions target Russian President Vladimir Putin and a handful of individuals believed to be among his closest security advisers, including Foreign Minister Sergey Lavrov.
But the list is just as notable for who isn't on it — most of the top names from Forbes' list of the richest Russians whose multi-billion-dollar fortunes are now largely intertwined with the West, from investments in Silicon Valley start-ups to British Premier League soccer teams.
READ: Russia plans to cut off Kyiv by Friday morning, say Ukrainian sources
Citing the concerns of European allies, the US also didn't impose what was seen as the harshest punishment at its disposal, banning Russia from SWIFT, the international financial system that banks use to move money around the world.
Biden said Thursday the new US sanctions would nonetheless cripple Russia's financial system and stymie its economic growth by targeting Russia's biggest banks, which the Treasury Department said holds nearly 80% of all the country's banking assets.
Oil and gas refineries and hubs are up in flames not just in the Middle East, but also in Russia and the US. Crude oil prices have surged over $100 a barrel. With the energy infrastructure in the Middle East likely to take years to be rebuilt, the world could be set for the biggest oil disruption in history.
The US has sent a 15-point proposal to Iran aimed at ending the Middle East conflict, including strict restrictions on its nuclear programme, halting support for proxy groups and reopening the Strait of Hormuz.
Trump says the war is already "won", but then points to his own defence chief as the man who did not want peace. Behind the victory claim lies a growing split inside Washington's war room.
Speaking at the White House, Trump said the United States was in contact with "the right people" in Iran and suggested that Tehran was eager to reach an agreement to halt hostilities. "We're in negotiations right now," he told reporters, without offering further details on the scope or format of the talks.
Casting doubt on the prospects of any immediate resolution, Jeffrey Sachs dismissed the idea of a near-term endgame.
Iran has issued a blunt warning to the US, threatening to sink US ships and paralyse the country if attacked. A senior official said any strike would trigger a "head for an eye" response, if US strikes on Iranian infrastructure.
The young aviator, Rishi, is seen confidently guiding the aircraft during a practice session at California's Oxnard Airport.
Lebanon's Ministry of Foreign Affairs said the decision was formally conveyed after Secretary-General Abdul Sattar Issa summoned Iran's chargé d'affaires in Beirut, Tawfiq Samadi Khoshkho. The ministry confirmed that Sheibani must leave Lebanese territory no later than March 29.
A US county judge, who made history as the first Indian-origin judge in Fort Bend, Texas, has been convicted of financial crimes. KP George, who traces his roots to Kerala, was found guilty of money laundering with prosecutors arguing he had misused funds intended for his election campaign.
A rare moment of peace between humans and wildlife was captured on IIT Madras campus by a research scholar and the wholesome video has over 10 million views.
The Strait of Hormuz, a narrow passage between the Persian Gulf and the Gulf of Oman, carries a significant share of the world's oil shipments, making it vital for global energy stability.
