Pretty dumb in my opinion. Modi has openly made the most of buying Russian oil as a backdoor for Russia to get around US+EU sanctions. Even low tech will make its way into Russian drones.
US spends CHIPS Act cash to explore Indian chipmaking collabs
The US has decided to partner with India and its Semiconductor Mission (ISM) to grow and diversify global chip supply chains. The partnership will use funds from the US CHIPS Act's International Technology Security and Innovation (ITSI) Fund, which has been allocated $100 million a year until 2027 to foster international …
COMMENTS
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Tuesday 10th September 2024 08:37 GMT BajanCherry
You should be thankful that Modi has saved Europe from energy disaster. Are you even aware how much of the said Russian oil gets sold back to Europe, some times after processing in India, so that it goes to Europe under India paper and hence acceptable; some times, mid sea exchange such that the oil does not even reach Indian shores.
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Tuesday 10th September 2024 17:54 GMT Raj
I take it that you're unfamiliar with the fact that the EU has one of the biggest buyers of that refined oil ? And that it has regulations on the books that make this legal - by asserting that Russian oil processed by third parties is no longer considered Russian and therefore is valid for EU consumption ?
It's right here: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014R0833
So, you've been driving around with Russian-origin petrol sloshing about in your car, and have now come back to your computer to rant at countries you've conveniently sourced that petrol from.
What a laugh.
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Tuesday 17th September 2024 17:06 GMT Alan Brown
More to the point, that oil is being obtained cheaply and whilst Russia is selling oil, it's doing so at a loss.
It either cashes in on the income now and loses long term production abilities due to lack of maintenance and repairs, or it preserves the long term viability of its oil industry by spending everything (and then some) on maintenance and repairs
We know what's happening and the way that Russia is starting to resemble a Shuffling Zombie (complete with bits falling off) is not a coincidence. There will be 26-31 new flags flying outside UN headquarters within 30 years (likely much sooner)
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Tuesday 10th September 2024 12:00 GMT JugheadJones
another world order
In my view any form of chip making facility should not go abroad, these components are fundamental to governments and companies. It also means locally made chips would be less scrutinised in terms of compliance and security.
Also all this outsourcing has made some countries very rich and able to throw their weight into any policitcal issue going, starting from humble beginnings to becoming a world order. Do we really need another one ? Keep it in house doesn't matter if it costs a bit more, long term does less damage