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According to Putin’s energy spokesman, Russia won’t export oil subject to Western restrictions

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After European Union members overcame resistance from Poland, the Group of Seven and Australia on Friday agreed to a $60 per barrel price restriction on Russian seaborne crude oil.

The second-largest oil exporter in the world, Russia, has stated that even if it had to reduce production, it will not sell oil that is subject to a Western price cap.

The European Union overcame Poland’s opposition, and on Friday, the Group of Seven and Australia agreed to a $60 per barrel price restriction on Russian crude oil that is transported by sea.

The West’s decision to forbid shipping, insurance, and reinsurance firms from handling cargoes of Russian crude above the cap is an effort to penalise Putin for the situation in Ukraine.

The West’s action, according to Russian Deputy Prime Minister Alexander Novak, was a blatant intrusion that went against the principles of free trade and would cause a supply deficit, which would be unsettling for the world’s energy markets.

As the Russian government official in charge of the nation’s oil, gas, atomic energy, and coal, Novak stated, “We are working on procedures to restrict the adoption of a price cap instrument, regardless of what level is established. Such meddling might further destabilise the market.”

Even if we have to slightly restrict production, we will only sell oil and petroleum products to nations who are willing to cooperate with us under market conditions, he continued.

According to Novak, aside from Russia, other nations could also be impacted by the Western cap and it could cause problems in the goods markets.

Because of how much the discounted price for Russian blends to Brent has increased, it is unclear what, if any, immediate impact the Western cap will have on Russian oil flows.

Just over $1.00 over the cap level, the Urals blend (URL-NWE-E) was trading at about $61.3 per barrel. The price of a barrel of Brent crude futures on Friday was $85.57.

Since Soviet geologists discovered oil and gas in the swamps of Siberia in the decades following World War Two, selling oil and gas to Europe has been one of the main ways that Russia earns foreign currency.

A source who asked to remain anonymous due to the sensitivity of the situation told Reuters that a decree barring Russian traders and companies from dealing with nations and businesses subject to the cap was in the works.

The export of oil and petroleum products would essentially be prohibited to nations and businesses that implement such a decree.

According to Putin, since he gave the order for the military action in Ukraine on February 24, the United States and its allies have been waging an economic war against Russia with the harshest sanctions in modern history, and they are in danger of experiencing an energy crisis as a result.

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Apple Plans to Invest $1 Billion to Lift iPhone 16 ban in Indonesia

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Apple is making big waves in Indonesia with a $1 billion manufacturing plant. This follows the Indonesian government’s new rules for smartphone sales which requires phones like iPhone 16 to have at least 40% local content.

Local Content Push

Indonesia is a massive market with 280 million people. But selling here comes with conditions. In October, they banned iPhone 16 sales because Apple didn’t meet the local content requirement. Now they’re going to tighten the rules even more.

Apple’s $1 billion investment might be the answer to this. Indonesia’s investment minister, Rosan Roeslani, confirmed the plan is underway. Details are still being hammered out but they want to finalize everything and get a written commitment from Apple soon.

Bigger Production Plan

Last week, Apple’s proposal to invest $100 million for a smaller plant for accessories and components was rejected. The Indonesian government thought it was not enough to lift the iPhone 16 ban. The new $1 billion commitment is a much bigger deal and could mean bigger production of smartphone components.

Apple has no manufacturing facility in Indonesia. Their strategy so far has been the developer academies they launched in 2018 which trains locals in app development. While that’s helpful, it doesn’t address the local content in iPhones.

Why Indonesia Matters

For Apple, this investment is not just about meeting government rules. It’s about the market. Indonesia has a fast growing middle class so it’s a good target for tech companies. A local plant can also help Apple reduce costs by sourcing components locally.

For Indonesia, this means jobs, local manufacturing and a stronger position as a global tech player. Partnerships like this can help the country move up the value chain from just consuming technology to being part of it.

What’s Next?

Apple’s $1 billion plan is big but necessary. By committing to local manufacturing, they’re aligning with Indonesia’s policies and preparing for long term growth in the region. More details to come soon.

This could be a game changer not just for Apple but for Indonesia’s tech industry. It’s a win win: Apple gets into a big market and Indonesia gets investment and innovation. If everything goes according to plan, this could be a model for how global companies can go local.

Also read: Apple’s Find My Lets Users Share Lost Item Locations with Third Party

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Cryopreservation: Technology That Freezes Bodies for Future Revival

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A German startup is offering a futuristic service that could change how we think about life and death. Tomorrow Bio, a company based in Germany, is providing cryopreservation services that allow dead bodies to be frozen and potentially revived in the future. This bold claim comes with a hefty price tag- $200,000 to preserve a full body, and $81,000 for just the brain.

So, how does it work? The process is called cryopreservation, and it involves cooling the body to minus 198 degrees Celsius, which puts the person’s body into a state of “biostasis.” This means that all biological processes stop completely, freezing the body in time. According to Tomorrow Bio, this could allow for future revival when technology is advanced enough to treat the cause of death and restore life.

Tomorrow Bio has already preserved six people and five pets. Over 650 individuals have signed up and paid for this service, hoping that one day they will be brought back to life. The company’s vision is to create a world where people can choose how long they want to live, no matter who they are, where they come from, or their financial situation.

To ensure the preservation process starts as soon as possible after death, Tomorrow Bio has teams on standby in several European cities, including Berlin, Amsterdam, and Zurich. They use specialized ambulances to transport the bodies to the main facility in Switzerland. Once there, the body is placed in an isolated steel container filled with liquid nitrogen. It’s kept at a chilling minus 198 degrees Celsius for ten days, achieving the preservation temperature needed for the process to work.

The co-founder of Tomorrow Bio, Fernando Azevedo Pinheir, believes that in our lifetime, we may see the safe cryopreservation and reanimation of complex organisms. While it sounds like something out of science fiction, the idea is gaining attention, and the startup has already made significant progress in this unique field.

This process, though futuristic, raises interesting questions about the future of life extension and how far science and technology might go in giving people the option to live longer-or come back later. Whether or not you’d choose to sign up for such a service, Tomorrow Bio’s venture is definitely one to watch as it pushes the boundaries of life and death.

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Prashant Vihar Blast Sends Shockwaves: Security Forces on High Alert

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Explosion Near Delhi's Prashant Vihar

On Thursday morning, an explosion near a PVR cinema in the Prashant Vihar area of Rohini, Delhi, caused concern among locals. The incident comes just over a month after a similar blast in the same area had caused widespread alarm.

What Happened?

According to the Delhi Police, the explosion occurred around 11:48 am. A call was made to the Delhi Fire Service, and fire tenders were immediately dispatched to the site. Specialized teams, including the Delhi Police Crime Branch, Special Cell, and Bomb Disposal Squad, also reached the location to secure the area and start their investigation.

One person suffered minor injuries in the explosion. Fortunately, they were treated and discharged from the hospital soon after. For now, police officials say there are no suspects, and the cause of the explosion is still under investigation.

What We Know So Far

Delhi Police PRO and Additional Commissioner of Police Sanjay Kumar Tyagi stated that the blast scene is being carefully examined. Forensic teams and other specialized units are collecting evidence. The area around the explosion has been cordoned off to ensure public safety and to allow investigators to work without interference.

A Similar Incident Last Month

This isn’t the first time such an incident has occurred in the Prashant Vihar area. In October, a powerful explosion damaged a wall of the CRPF school nearby. That blast caused significant property damage, including shattered shop windows and damaged parked cars. The loud explosion was reportedly heard hundreds of meters away.

At first, investigators suspected the use of a crude bomb. However, further investigation revealed an unexpected cause — a cigarette butt discarded in a garbage dump had interacted with industrial waste, triggering the explosion.

Fortunately, no one was injured in the October incident, but it prompted a high alert across the city. Major investigative agencies, including the National Investigation Agency (NIA) and National Security Guard (NSG), had inspected the site to gather evidence.

Current Situation

The latest explosion has raised fresh concerns among residents and authorities alike. While this time only minor injuries were reported, the recurrence of such incidents in the same area is alarming.

Investigators are leaving no stone unturned. Evidence is being collected from the site, and forensic teams are trying to determine if the explosion was caused by human negligence, a chemical reaction, or something more deliberate.

What’s Next?

Authorities are urging people to stay calm and avoid spreading rumors. For now, the priority is understanding the root cause of the explosion to ensure it doesn’t happen again.

Local residents hope for a swift resolution. The presence of specialized teams like the Crime Branch and Bomb Disposal Squad reflects the seriousness of the investigation. Whether it was an accident or something more sinister, the truth will hopefully come to light soon.

Final Thoughts

While minor injuries and property damage were the extent of Thursday’s explosion, the incident is a wake-up call for better safety measures. Both October’s and this week’s blasts underline the importance of investigating and managing industrial and chemical waste more carefully. For now, Delhi waits for answers as the investigation unfolds.

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PAN Card 2.0: Do You Need a New One or Keep Your Old One?

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The government has taken a big step to modernize how taxpayers manage their information with the launch of the PAN 2.0 Project. Approved by the Cabinet Committee on Economic Affairs, this initiative aims to upgrade the existing PAN (Permanent Account Number) system, making it more secure, efficient, and user-friendly. With an investment of ₹1,435 crore, PAN 2.0 is set to bring a lot of improvements to the current system without creating any extra hassle for citizens.

What Is PAN 2.0?

PAN 2.0 is a revamped version of the current PAN system. It’s designed to serve as a common business identifier, especially for business activities across specified sectors. According to Union Minister Ashwini Vaishnaw, this upgrade is part of an effort to strengthen India’s digital infrastructure and make financial processes smoother and safer for everyone.

Here’s what PAN 2.0 promises:

  • System Upgrades: The new system will enhance the way taxpayer data is managed and accessed.
  • Unified Portal: A single online platform will be introduced for all PAN-related services.
  • Better Security: Stronger cybersecurity measures will protect taxpayer data.
  • Mandatory Data Vault System: Any organization using PAN information must store it securely using a data vault system.
  • Grievance Redressal: A modern, technology-driven system will make resolving issues faster and easier.

Will You Need to Apply for a New PAN Card?

No need to worry! If you already have a PAN card, you don’t need to reapply. Your existing PAN will remain valid, and you’ll automatically receive the upgraded benefits. The government has also confirmed that there will be no additional cost for these improvements.

What’s changing? The upgraded PAN cards will include QR codes to enhance security and usability. These updates will not affect the current 78 crore PAN cardholders.

How Does PAN 2.0 Help Businesses?

One of the standout features of PAN 2.0 is its focus on making the PAN card a common business identifier. This means businesses across various sectors can use PAN as their primary identification number for compliance and other purposes.

The unified portal will simplify business operations by reducing paperwork and providing an easy, digital way to manage PAN and TAN (Tax Deduction and Collection Account Number) services.

Why Is This a Big Deal?

PAN is a crucial part of financial and tax-related activities in India. For individuals, it helps with filing taxes, opening bank accounts, and more. For businesses, it’s essential for transactions, compliance, and government dealings. With PAN 2.0, the government aims to:

  • Improve the user experience for both individuals and businesses.
  • Strengthen data protection to prevent unauthorized use.
  • Create a streamlined, paperless process for all PAN-related activities.

The initiative also aligns with India’s larger push toward e-governance, ensuring that processes are digital, secure, and efficient.

In Summary

The PAN 2.0 Project is a much-needed upgrade to India’s taxpayer identification system. It brings advanced technology, stronger security, and a user-friendly approach to something that’s already a cornerstone of financial life in the country.

If you’re a taxpayer or a business owner, there’s no action needed on your part. Just look forward to an enhanced system that works better for you. With these changes, PAN 2.0 promises to make managing your financial and tax details easier and more secure than ever.

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World War III? Ex-Ukrainian Commander Raises Alarming Claim

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Valery Zaluzhny, Ukraine’s former commander-in-chief, has made a bold statement: the world is already in the early stages of a third World War. According to Zaluzhny, this conflict is no longer limited to Ukraine and Russia—it now involves major global powers like the United States, North Korea, Iran, and potentially China.

Speaking at the UP100 award ceremony organized by Ukrainska Pravda, Zaluzhny described how the Ukraine-Russia conflict has escalated far beyond its origins. “In 2024, we can absolutely believe that the Third World War has begun,” he said, pointing to mounting evidence of external involvement in the war.

Signs of Global Involvement

Zaluzhny highlighted several troubling developments. North Korean troops have reportedly joined Russian forces, while weapons from countries like Iran and China are potentially being deployed on the battlefield. These claims, although difficult to verify independently, suggest an alarming expansion of the war.

“Ukraine is no longer just fighting Russia,” Zaluzhny explained. “North Korean soldiers are in front of us, and Iranian Shahed drones are openly killing Ukrainian civilians.”

Western media reports suggest that Russia may deploy as many as 50,000 North Korean troops alongside Russian forces for a counter-offensive in Kursk Oblast, a region where Ukraine has gained some control.

Urging Western Allies for Support

Zaluzhny expressed frustration with Ukraine’s Western allies, accusing them of not fully grasping the global stakes. He called for increased aid to prevent the war from spreading further.

“It is still possible to stop this war here, on the territory of Ukraine,” he said. “But for some reason, our partners refuse to understand this.”

His plea underscores the growing urgency for external support as Ukraine faces escalating threats on multiple fronts.

A Controversial Figure

Zaluzhny’s comments come months after his dismissal as commander-in-chief by Ukrainian President Volodymyr Zelensky. Officially, the move was part of a military shake-up. However, reports suggest disagreements over war strategy and speculation about his growing popularity as a threat to Zelensky’s leadership.

Since then, Zaluzhny has been serving as Ukraine’s envoy to the United Kingdom, a role that keeps him engaged in the ongoing geopolitical struggle.

The Bigger Picture

The Ukraine war has already caused immense devastation and upheaval, but Zaluzhny’s remarks highlight an even graver possibility: a global conflict involving superpowers. His warnings about North Korean troops and advanced weapons from countries like Iran add to fears of a broader escalation.

While claims like these are difficult to verify independently, they shed light on the war’s growing complexity. Zaluzhny’s plea for increased support reminds the world that the stakes in Ukraine are higher than ever.

As the war continues, the question remains: Is this the beginning of a third World War? Only time will tell, but the situation demands close attention and swift action to prevent further escalation.

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