INDIA TRADE CURBS ON TURKEY AND MALAYSIA

Media India Group reported on 4th November that Malaysia and Turkey have annoyed India by criticising the decision on abrogation of Article 370 involving Kashmir, and Turkish president Recep Tayyip Erdoğan criticised India’s Kashmir move at the UN.  They are also said to have opposed the blacklisting of Pakistan at FATF, said to be 2 of 3 countries to do so.  India is reported to have put on hold a $2.3 billion for Turkey to build5 ships for its navy and is also cutting down exports of military equipment and dual-use items like explosives and detonators to Turkey, given the latter’s growing defence ties with Pakistan.  Furthermore, India (the largest importer of edible oils in the world) now plans to substitute Malaysian palm oil (Malaysia being the chief supplier of palm oil to India) with palm oil from Indonesia, soybean oil from Argentina and sunflower oil from Ukraine.

https://mediaindia.eu/business/india-weighs-trade-curbs-on-turkey-malaysia/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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