Sir, The US move to end the exemptions granted to India, China and six other countries for importing Iran oil after May 2, will only serve the interests of the US and Saudi Arabia. It is a tactical move by the US to push Iran to change its policies.

India and other countries affected by the sanctions should jointly put pressure on the US to ensure adequate oil supplies, failing which the sanctions should be lifted.

2) Oil Wars,
Deccan Chronicle,26th April,2019,L.E.

Sir, The US move to end the exemptions granted to India, China and six other countries from ban on import of Iranian crude oil by May will only serve the interest of US and Saudi Arabia,

India has to find alternative oil suppliers and deal with volatile international crude prices which will effect the domestic coccking gas and transport sector too,

We should mount pressure on us to adequate Oil supplies to counties effected by Iran sanctions,failing which the embargo of Iranian crude oil should be lifted.

The historic vote in the United Kingdom to leave the 28-nation European Union (EU) is having repercussions far beyond the European continent, to no one’s surprise. The British people, it seems, want greater control of their economy and their country’s borders. Stock markets in many countries tumbled immediately after the results of the referendum were announced. The so-called Brexit has come at a time when the global economy is going through a period of instability and uncertain times.

GCC countries need to adjust to the new situation. As Dr Christian Koch, of the Geneva-based Gulf Research Centre Foundation, observed the other day (“For the GCC states, a different Europe to deal with from now on”, Gulf Times, June 26), the GCC states will now have to deal with a more fractured Europe and an EU institution struggling to define its purpose in the wider integration process.

It has been observed that the vote will provide further impetus for European separatism. Nationalist forces in countries like France, Germany, Poland and Hungary are likely to intensify their own campaigns against Brussels and against further European integration.

The GCC states will have to deal with a UK that is now taking on a different sort of European identity. Especially on foreign policy and defence matters, it is correct to assume that the UK and other European countries will no longer be following a similar approach.

Where will all this lead to? Are we witnessing the beginning of the end of the European integration project? As two world wars had their origins in Europe, that is a worrying prospect.

Sir - Greece, which was once a rich nation, has now been rendered economically weak owing to a huge debt burden.

The Greek people are facing immense hardships. The country might have no choice but to pull out of the Eurozone and revert back to its old currency. This is the second big crisis after the global financial crisis of 2007-08. Several factors have contributed to this economic meltdown. The introduction of a single currency was the most important of these factors.

It has certainly expanded trade, but it also increased labour costs, thereby making Greece's exports non-competitive. Although European leaders are ready with another bailout package, it comes with harsh conditions.

The victory of Francois Holland in the just-concluded presidential elections in France has not surprised the World owing to the antiincumbtncy sentiment. High turnout of voters, at 81%, immensely helped Hollander cash in on people's dissatisfaction with Nicholas Sarkozy. The election has implications not only for France but for the entire European Union.

Sarkozy did not live up the promises he had made five Years ago when he was campaigning. He had assured the people that he would pull France out of the economic crisis, but all that proved to be damp squib.

The French presidential elections have always been keenly watched by political observers because of the country's importance in the European Union and world politics. It is expected that Hollander, with his socialist background, will take the right steps to improve the economic condition of the country.