Algeria Current Affairs - 2019
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The Stockholm International Peace Research Institute (SIPRI) has released the Trends in International Arms Transfers 2018 Report. The Key observations made in the report include:
- Russia’s arms export to India decreased by a whopping 42 per cent between 2014-18 and 2009-2013.
- Russia accounted for 58 per cent of total Indian arms imports in 2014-2018, compared with 76 per cent in 2009-2013.
- India’s import of arms decreased by 24 per cent between 2009-2013 and 2014-2018 which was in line with India’s strategic programme Make in India- Defence to reduce India’s dependence on foreign arms.
- The decrease in imports was also attributed to delays in deliveries of arms produced under license from foreign suppliers, such as combat aircraft ordered from Russia in 2001 and submarines ordered from France in 2008.
- The decrease in India’s arms import is significant given since the volume of international transfers of major arms in 2014-18 was 7.8 per cent higher than in 2009-13 and 23 per cent higher than in 2004-2008.
- India was the world’s second largest importer of major arms in 2014-18 and accounted for 9.5 per cent of the global total.
- Israel, the USA and France have increased their arms exports to India in 2014-18.
- Five largest Arm exporters in 2014-18 were the United States, Russia, France, Germany and China.
- Five largest Arm importers were Saudi Arabia, India, Egypt, Australia and Algeria.
- The US was the top arms exporter in 2014-18 and 2009-13. The US’s exports of major arms grew by 29 per cent between the two periods and its share of total global exports rose from 30 per cent to 36 per cent.
- The gap between the USA and Russia which is the second largest exporter has continued to widen. The US exports of major arms in 2009-13 were 12 per cent higher than those of Russia, whereas in 2014-18 they were 75 per cent higher. Russian exports of major arms decreased by 17 per cent between the same periods.
- The decrease in the Russian exports was partly attributed to general reductions in Indian and Venezuelan arms imports, two countries that have been among the main recipients of Russian arms exports in previous years.
- India remained the chief importer of Russian arms in 2014-18. But Russian arms exports to India fell by 42 per cent between 2014-18 and 2009-13. Arms exports to Venezuela, which was the fifth largest recipient of Russian arms in 2009-13, decreased by 96 per cent between 2014-18 and 2009-13.
- The arms imports of Pakistan was decreased by 39 per cent between 2009-13 and 2014-18. The US has become increasingly reluctant to provide military aid or sell arms to Pakistan.
- US arms exports to Pakistan fell by 81 per cent between 2009-13 and 2014-18. Pakistan has instead turned to other suppliers.
Stockholm International Peace Research Institute
Stockholm International Peace Research Institute (SIPRI) established in 1966 is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament. Based in Stockholm the Institute provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
Tags: Algeria • arms control • Arms Exports • Arms Imports • Australia • China • Disarmament • Egypt • France • Germany • India • Make in India Defence • Pakistan • Russia • Saudi Arabia • SIPRI • Stockholm International Peace Research Institute • Trends in International Arms Transfers • Trends in International Arms Transfers 2018 • United States • Venezuela
The Organisation of Petroleum Exporting Countries (OPEC) reached an agreement to cut oil production for the first time since 2008 after an informal meeting in Algiers, Algeria.
It was decided that OPEC would reduce output to a range of 32.5 to 33.0 million barrels per day (bpd) from its current output at 33.24 million bpd.
However, how much each country will or reduce its output will be decided at the OPEC’s next formal meeting scheduled in November 2016. In this meeting, special invitation will be sent to Russia (non-OPEC member) to join cuts in production.
Impact on India
- India, being the 3rd largest importer of crude oil imports 85% of total oil and 95% of natural gas from OPEC nations.
- In recent time due to cheaper oil prices in international market due to overproduction and non-coordination among OPEC countries Indian economy had immensely benefited.
- However, this decision may result in spike in oil prices which can have major implications for the India’s current account deficit and overall economy in general.
- In recent times, lower oil prices kept the Indian economy on the shining path and managed to keep inflation under control making it fastest growing economy in G20 countries.
About Organization of the Petroleum Exporting Countries (OPEC)
- The OPEC is an intergovernmental organization of 14 oil-exporting developing nations that coordinates and unifies the petroleum policies of its member countries.
- Established: 1960 in Baghdad, Iraq by the first five members.
- Headquarters: Vienna, Austria.
- OPEC Members: Algeria, Angola, Libya, Nigeria and Gabon (from Africa); Indonesia, Iran, Iraq, Saudi Arabia (the de facto leader) Kuwait, Qatar, United Arab Emirates (from Asia); Ecuador and Venezuela (from Latin America).
- As of 2015, these 14 OPEC member countries accounted for an estimated 43% of global oil production and 73% of the world’s oil reserves.
- Two-thirds of OPEC’s oil production and reserves are in its six Middle Eastern (west Asian) countries that surround the oil-rich Persian Gulf.`