Ligand bias is the ability of ligands to differentially activate certain receptor signaling responses compared with others. It reflects differences in the responses of a receptor to specific ligands and has implications for the development of highly specific therapeutics. Whereas ligand bias has been studied primarily for G protein–coupled receptors (GPCRs), there are also reports of ligand bias for receptor tyrosine kinases (RTKs). However, the understanding of RTK ligand bias is lagging behind the knowledge of GPCR ligand bias. In this review, we highlight how protocols that were developed to study GPCR signaling can be used to identify and quantify RTK ligand bias. We also introduce an operational model that can provide insights into the biophysical basis of RTK activation and ligand bias. Finally, we discuss possible mechanisms underpinning RTK ligand bias. Thus, this review serves as a primer for researchers interested in investigating ligand bias in RTK signaling.

The inositol 1,4,5-trisphosphate (IP3) receptors (IP3Rs), which form tetrameric channels, play pivotal roles in regulating the spatiotemporal patterns of intracellular calcium signals. Mutations in IP3Rs have been increasingly associated with many debilitating human diseases such as ataxia, Gillespie syndrome, and generalized anhidrosis. However, how these mutations affect IP3R function, and how the perturbation of as-sociated calcium signals contribute to the pathogenesis and severity of these diseases remains largely uncharacterized. Moreover, many of these diseases occur as the result of autosomal dominant inheritance, suggesting that WT and mutant subunits associate in heterotetrameric channels. How the in-corporation of different numbers of mutant subunits within the tetrameric channels affects its activities and results in different disease phenotypes is also unclear. In this report, we investigated representative disease-associated missense mutations to determine their effects on IP3R channel activity. Additionally, we designed concatenated IP3R constructs to create tetrameric channels with a predefined subunit composition to explore the functionality of heteromeric channels. Using calcium imaging techniques to assess IP3R channel function, we observed that all the mutations studied resulted in severely attenuated Ca2+ release when expressed as homotetramers. However, some heterotetramers retained varied degrees of function dependent on the composition of the tetramer. Our findings suggest that the effect of mutations depends on the location of the mutation in the IP3R structure, as well as on the stoichiometry of mutant subunits assembled within the tetrameric channel. These studies provide insight into the pathogenesis and penetrance of these devastating human diseases.

Water, Ecosystems and Energy in South Asia: Making Cross-Border Collaboration Work Research paper sysadmin 29 June 2016

A new paper sets out the factors that have made previous cross-border projects in South Asia successful, arguing that cooperation around water is feasible despite the region’s political differences and economic assymetries.

• The countries of South Asia share some of the world’s major river basins – the Ganga (or Ganges), the Brahmaputra and the Indus. These rivers and their tributaries flow through seven countries, support more than 1 billion people, irrigate millions of hectares of land and are of cultural importance to many of those who rely on them.
• River management presents common challenges across the region. These include physical factors such as droughts, flooding, cyclones and climate change, as well political and institutional factors impeding the development of solutions and policies to improve resource management and reduce vulnerability. Water is increasingly seen as a source of competition, with population growth, industrialization and urbanization exacerbating the pressures on supply.
• Although South Asian examples of regional cooperation in general are limited, there is a clear positive trend. In areas such as disaster response and cross-border power trading, regional and bilateral engagement is beginning to take place. Multilateral official arrangements exist for trade and other economic issues, but there is none on water or ecosystems. However, as the benefits from cooperation become proven, its desirability is likely to gradually enter mainstream policy thinking on water issues.
• This research paper sets out the factors that have enabled cooperation, and the processes adopted, in previous successful cross-border projects. It focuses on four categories of cooperation: development of early-warning systems for natural disasters, in particular floods; protection of cross-border ecosystems; sharing of learning, through the showcasing of innovative approaches in one country that can be adopted by others; and power trading, in particular the development of hydropower in Bhutan and its export to India.
• The paper argues that cooperation around water in South Asia is feasible despite political differences and economic asymmetries. Different forms of collective action, and common understanding of both the threats and the shared benefits from cooperation, are required to foster more partnerships within the river basin states.

A Digital India Must Embrace the Circular Economy Expert comment sysadmin 15 January 2018

A growing amount of e-waste should draw attention to the broader sustainability of a digital society.

The latest Global E-Waste Monitor places India as one of the highest contributors to global e-waste, generating over 2 million metric tonnes in 2016. Posing serious health and environmental risks, growing e-waste represents the hidden cost of increasingly digital lives in an information society.

With just 33 per cent of the population owning a smart phone, India already has the second largest number of smart phone users in the world, nearly 4 times that of the United States. The amount of e-waste generated will exponentially increase in the coming decade as the cost of consumer electronics decline, middle-class incomes rise, and the frequency at which devices are discarded increases.

As governance instruments are increasingly digitized and industry re-repositions itself to leverage Industry 4.0 solutions, the generation of e-waste will become a byproduct of institutional choices rather than consumer consumption and behaviour alone.

India is already a leader in the management and recycling of e-waste. But over 90 per cent is managed in the unorganized sector by small businesses and individual entrepreneurs, typically from low-income marginalized communities, and often women. E-waste contains various toxic substances such as mercury and lead, prolonged exposure to which can lead to major health problems.

Almost 80 per cent of e-waste workers in India suffer from respiratory ailments due to improper standards and nearly 500,000 children are engaged in e-waste collection without adequate protection and safeguards. The bulk of the dirty and dangerous work supporting India’s march towards an increasingly digital society is done by those who have the least access to technology gains. Government regulations for the management of e-waste, on the other hand, are becoming more relaxed, presumably as a result of industry pressure. To streamline e-waste management, the government notified Electronic Waste Rules in 2011, based on the concept of extended producer responsibility (EPR).

EPR makes manufacturers of electronic products responsible for the end-of-life management of their products, including setting up collection centres. By shifting the burden to manufacturers, the EPR framework, in theory, creates incentives for more environmentally friendly design. But the impact of EPR rules on manufacturers has been minimal, at best. The recently released Draft Notification (2017) by the Ministry of Environment, Forest and Climate Change further relaxes the EPR rule by reducing the e-waste collection targets for industries.

While the efficiency and productivity gains of Digital India are to be welcomed, growing e-waste should draw attention to the broader sustainability of a digital society. Data centres, for example, are one the largest contributors to global warming, contributing a similar amount to global greenhouse emissions as the aviation industry.

This amount is expected to triple in the next decade. In many ways, the sustainability challenge is a ‘wicked problem’ – where possible solutions create a new set of additional challenges and the choice between available alternatives is largely about competing values.

For example, data centres powered by renewable sources of energy such as solar provide a greener alternative, but will also create new forms of e-waste in the form of photovoltaic cells and panels. An unverified estimate suggests that India’s projected solar capacity of 100 gigawatts by 2022 will create 7.76 million tonnes of e-waste. Without adequate and preemptive consideration of how this waste should be disposed and recycled, renewable energy solutions can create new negative externalities.

For Digital India to be sustainable, we need to develop anticipatory knowledge for preemptive solutions. It is an opportune moment to think of the broader architecture of a digital society, one that avoids getting locked into unsustainable models of production and consumption, as is the case with many industrialized economies.

The argument that such considerations are premature for India, given high levels of poverty and unemployment, are misplaced. Enquiries into the sustainability of Digital India are no less urgent than the need for sustained job-creating economic growth. These issues should not be addressed in a sequential or linear manner, but in parallel, or else we will be only partially aware of available choices and their consequences, creating new forms of technological and economic lock-ins.

The value-based choice demanded by the ‘wicked problem’ at hand is one that embraces the idea of a circular economy — one that departs from the linear economic growth model predicated on ‘take, make, dispose’ to embrace a growth model based on creating closed loops of production, consumption and re-use. A circular economy model is built on the idea of designing out waste and pollution; keeping products and materials in use; and regenerating natural systems. In many ways, India is already a leader in the circular economy.

Alongside, the management of e-waste and other forms of recycling, high levels of repair and reuse are distinctly observable. A number of reports note that the informal waste management sector in India works better than systems in many industrialized economies.

A circular economy vision for Digital India would include organizing informal waste management systems, including safety and social protection initiatives for workers; revising and tightening existent e-waste rules for increased accountability by manufacturers both in terms of durable design and responsible disposal; green data centres; and building future smart cities with a view towards energy and water efficiency, among others.

A recent report by the Ellen McArthur Foundation and the World Economic Forum also estimates that a circular economy path to development could bring India annual benefits of $624 billion by 2050. Greenhouse gas emissions could also be 44 per cent lower in 2050, compared with current development path.

Unsurprisingly, Nordic countries are leading the way in promoting the idea of a circular economy. Sweden recently announced tax breaks for repair related activities and Finland hosted the first global conference on the circular economy earlier this year. The circular economy provides an opportunity for India to capitalize and leverage an already existing culture of circular activities, and promote it as a policy agenda that will create new forms of employment while facilitating sustainable environmental management.

This article was originally published in the Indian Express.

India Budget 2018: Who are the Biggest Winners and Losers? Expert comment sysadmin 2 February 2018

Any claims to boost farmers’ prospects will inevitably be seen as political, coming ahead of a series of key elections. But this budget recognises India’s most pressing concerns - and seeks to address them.

In 2016 India’s prime minister, Narendra Modi, pledged to double farmers’ incomes by 2022. While the pledge may have been aspirational, reliant on good weather as much as government policy, the 2018/19 budget demonstrates the depth of the government’s commitment to the agriculture sector.

There’s clearly a political edge to any moves to bolster agriculture: any solace to rural India will be described as political opportunism until most people in India are not engaged directly or indirectly in the agricultural sector.

And with a number of state elections coming up this year and a general election next – suggestions that it will be brought forward have increased in volume since the budget – a politically-astute budget is unsurprising. At the same time, there is a real sense of crisis in Indian agriculture which the budget is attempting to ameliorate.

Significant hike in infrastructure spending

The budget – which has Keynesian undertones – announces both direct and indirect support for rural India; it increases significantly the price at which the government purchases agricultural produce, and offers a range of further support through initiatives in areas such as irrigation. Furthermore, there is a significant hike in spending on infrastructure – roads, railways, ports and waterways – with a major allocation for rural infrastructure.

While government spending on infrastructure had been growing, the 2018/19 budget appears to accept that innovative funding models to fund rural projects are unlikely to work – instead, rural highways will have to be funded from overall taxation, as is generally the norm.

The other bold initiative focuses on healthcare. One hundred million poor families (so around half a billion Indians in total) will receive up to Rs500,000 for medical care under a health insurance programme. Given the correlation between ill health and poverty, this should have implications for the economy as well as healthcare itself. At the moment poverty effectively excludes many Indians from private healthcare.

Education too received a boost, with several proposals including teacher training. There have long been concerns over the quality of Indian education. In particular, even where schools exist physically, teachers themselves are absent.

As is often the case with India, the question will be in the implementation. While there are bound to be hiccups, the current Indian government does appear to realise the need for on-the-ground, visible change.

The recent state election in Gujarat demonstrated that while the ruling Bharatiya Janata Party (BJP) is clearly favourite to win another term, it is not invulnerable. If the changes do not reach the “last mile”, then they will accrue neither the economic nor the political benefits.

The downsides? Increased taxes will raise inflation, potentially exacerbated by sustained government borrowing; a 20% rise in customs duty will affect imports of mobile phones (though benefit domestic producers and encourage other foreign firms to set up manufacturing plants in India) and some of the revenue projections appear optimistic.

On balance though, this is a budget that recognises the most pressing challenges which India faces, and attempts to provide solutions to them.

This article was originally published in The Independent.

Mobile Ecosystems as a Driver of Innovation and Growth in the Asia-Pacific 19 September 2018 — 12:30PM TO 3:00PM Anonymous (not verified) 18 September 2018 Chatham House, London

China Needs to Make the Belt and Road Initiative More Transparent and Predictable Expert comment sysadmin 29 April 2019

The global infrastructure project must move beyond mish-mash of opaque bilateral deals

As China welcomes dozens of world leaders to Beijing for its second Belt and Road forum, it has one simple aim: relaunching President Xi Jinping’s controversial global infrastructure drive.

Since it began five years ago, the Belt and Road Initiative (BRI) has sunk hundreds of billions into port, railway and power projects stretching from south-east Asia to central Europe. But its path has been bumpy, drawing sharp criticism over the ruinous debts that some countries have racked up amid Chinese largesse.

Xi will stress sustainable financing and transparency this week, amid the usual talk of ‘win win’ cooperation. Yet BRI’s problems are structural, not presentational. For any pledges to be meaningful, China must move beyond its present mish-mash of opaque, bilateral deals.

After bad headlines last year, BRI has in fact enjoyed a good run in recent weeks. Malaysia announced it would resume a previously cancelled high-speed rail project, while Italy’s decision to join up last month marked a further European incursion. Indeed, if attendance is any guide to success, BRI looks in fine fettle. The first forum in 2017 attracted 29 world leaders. China says 37 will turn up this week. Phillip Hammond, UK chancellor, arrives hunting deals too, just a day after news that Chinese technology group Huawei will be allowed to help build 5G networks in Britain.

Even so, three interlinked problems remain at the heart of President Xi’s pet project, all of which must be addressed if BRI is to move beyond the pitfalls that have damaged its reputation.

The first and most obvious is debt. Critics allege that China ‘traps’ its BRI partners financially, often pointing to a debt-for-equity deal that handed China control of a port in Sri Lanka. These claims are exaggerated — few other projects have ended up this way. Yet poorer nations from Laos to Tajikistan are still signing up to vastly expensive Chinese schemes that offer poor value for money while straining their public finances.

The second problem is transparency. Despite its grand scale there is still no reliable list of BRI projects, no disclosure of the lending standards China follows, nor even the amount China has invested. Beijing claims more than $1 trillion; independent estimates suggest perhaps a few hundred billion. Either way, it will be hard for China to convince doubters on debts until it is open about the criteria it uses in deciding who to lend to and why.

BRI’s third and most important challenge is its muddled organization. Despite BRI’s image as a centrally run mega-project, China has allowed many deals to be struck locally, via a mix of state-backed companies, public sector banks and freewheeling regional governments. And it is here that the problems began.

Infrastructure deals are notoriously complex, especially for transnational projects like high-speed rail. Renegotiations are common, even for experienced bodies like the World Bank. Yet BRI has repeatedly seen terms negotiated behind closed doors, in countries such as Malaysia and Pakistan, come unstuck in the face of public outcry.

Rather than seeking to trap others with debt, China’s central government more often has to step in to fix dubious projects agreed by underlings lower down the chain.

These negotiations go one of two ways. Either China’s partners complain and win terms, as was true in Malaysia and in Myanmar over a multibillion-dollar deep-sea port. Or, as in the case of Sri Lanka, the renegotiations go in China’s favour, but at the cost of accusations of debt trickery. In both cases China looks bad.

Speaking last year, Xi responded to criticism of BRI by describing it as ‘an open platform for cooperation’. Yet, so far, he has proved resistant to the step that would deliver on that vision — namely turning BRI into an institution with open standards and international partners.

The reasons for his reluctance are obvious. Ending BRI’s reliance on loose bilateral deals would limit Beijing’s room for geopolitical manoeuvre. Yet what might be lost in political flexibility could easily be gained in economic credibility, while avoiding some of the painful renegotiations that have dogged many BRI projects.

At a time when China’s economy is slowing and its current account surplus is shrinking, formalising and institutionalising, BRI could also help avoid wasting scarce public resources on white elephant projects. China even has an easy template in the form of the Asian Infrastructure Investment Bank, the Beijing-based institution that has won plaudits for its project quality and openness since it started in 2016.

Whichever model is chosen, a dose of Chinese-style central planning is called for, along with more openness. Without it, the oddly chaotic and decentralised model pioneered in BRI’s first five years is unlikely to help the project thrive over the next five.

This article was originally published in the Financial Times.

How Women are Transforming Indonesia Interview sysadmin 20 May 2019

In a series exploring women in international affairs, Isabel Dunstan speaks to Gitika Bhardwaj about the rise of the women’s movement in Indonesia.

Southeast Asia has one of the highest records of gender-based violence in the world and Indonesia was recently ranked as the second most dangerous place for women in the Asia-Pacific. What is the state of women’s rights and gender equality in Indonesia?

It is true that Indonesia has high rates of violence against women, however, it’s difficult to know the realities of women’s experiences because in the past the data has been somewhat unreliable. This has been due to reasons such as a lack of reporting mechanisms available to survivors of violence and the fact that discussing sexual violence is a taboo and, if reported, can result in stigmatization which limits the number of survivors who have come forward.

However, the first reliable nationwide survey on gendered violence in Indonesia was conducted in 2017 by the Indonesian Ministry of Women and Child Protection and the United Nations Population Fund. Interestingly, it showed that Indonesia’s rates of violence against women are on par with the global rate which is that 1 in 3 women are affected by sexual violence in their lifetime.

It’s therefore difficult to generalize that Indonesia is an unsafe place for women because it’s an extremely diverse country. There is a growing middle class while there is pervasive poverty. There is religious diversity where the eastern-most province of Aceh is the only province in the country where Sharia law is enforced, whereas in the western-most province of West Papua, the dominant religion is Christianity and the ways of life are completely different.

Nevertheless, violence against women is high in Indonesia and can happen in all places – rich or poor, east or west – and has different manifestations from street harassment and trafficking to domestic violence and workplace harassment.

In some parts of the country there are high rates of child marriage too and, according to UNICEF, 14 per cent of girls in Indonesia are married by the time they turn 18 which is shocking when we think about how child marriage limits girls’ access to education and makes them more vulnerable to sexual violence and therefore restricts their futures.

Child marriage is high in Indonesia in part due to rooted gender norms, low levels of education and discriminating legislation, such as the marriage law, which states that, although it is legal to marry at 21, girls can marry at 16 and boys can marry at 19 with parental consent. But this can be even lower meaning parents could get their daughters married at as young as 13. So the law is fundamentally unfair between girls and boys and the women’s movement in Indonesia has been fighting extremely hard to reform legislation that discriminates against women and girls.

From the country’s first female president, Megawati Sukarnoputri​, to incumbent finance minister Sri Mulyani Indrawati – who was voted ‘Best Minister in the World’ in 2018 – and maritime​ and fisheries minister Susi Pudjiastuti – who has become notorious for her tough stance against illegal fishing activities – how are women progressing in Indonesian politics?

Indonesia has come a long way since becoming a democracy in 1998. Before that, the second president and dictator, Suharto, ruled the country for almost 32 years and increased the inequality gap between men and women during his reign.

Since the fall of Suharto, however, gender equality is explicitly enshrined in Indonesia’s constitution and the country has ratified the Convention on the Elimination of Violence Against Women.

The country has also been undergoing a process of democratization which has involved slowly decentralizing its power. This means that greater authority has been distributed to the 34 provincial governments outside of the capital of Jakarta.

Furthermore, to aid gender equality, a quota system requiring political parties to be made up of 30 per cent women has been put in place, although remnants of Suharto’s old system of cronyism remain, limiting the impact of the quotas translating to more women in provincial parliaments.

But the defining approach to furthering gender equality in Indonesia has been through gender mainstreaming and gender-responsive budgeting which can be seen throughout provincial administrations in the country.

This means there is the intention to ensure infrastructure, health and education outcomes include results that address specific gender equality gaps. The challenge for effective gender mainstreaming, however, is the political will to translate the approach into well-resourced programmes from one province to another.

Nevertheless, we have just seen Indonesia go through the most incredible presidential and legislative elections last month – won by the current president, Joko Widodo, who has often been called the ‘Barack Obama of Southeast Asia’ and whose existing cabinet has the highest number of women in the country’s history. This is not simply a matter of filling seats in the cabinet with women – such as the wives and sisters of male politicians – because it’s required by law. But, rather, there are some incredible female political figures who are there because they are strong, smart and capable.

You’ve rightly mentioned Minister of Maritime Affairs and Fisheries, Susi Pudjiastuti, who is a fabulous role model for a lot of women particularly women who have not had tertiary education because she entered politics through an unorthodox route.

Then there’s Minister of Finance, Sri Mulyani Indrawati, who is also the former leader of the World Bank and is such an inspiration to a lot of women who are looking to work in public life because of her experience as well as her work to include gender mainstreaming in state budgets.

There is also Minister of Women’s Empowerment and Child Protection, Yohana Susana Yembise, who is a Papuan woman, as well as many more female public figures.

Development Prospects in the Asia-Pacific: The Role of the Asian Development Bank 25 September 2019 — 12:30PM TO 1:30PM Anonymous (not verified) 4 September 2019 Chatham House | 10 St James's Square | London | SW1Y 4LE

The speaker will discuss development prospects in the Asia-Pacific and their implications for Europe and the UK. He will outline prospects for the region’s growth, the impact of the current US-China trade conflict as well as other challenges faced by the region. He will also discuss the future role of the Asian Development Bank and how it plans to support the further development of the region.

International Arbitration: Exploring India’s Potential 15 November 2019 — 9:30AM TO 5:30PM Anonymous (not verified) 17 October 2019 Chatham House | 10 St James's Square | London | SW1Y 4LE

As India’s economic clout grows, so does its aspiration to become a favoured arbitration destination in a globalized world dominated by foreign investments flows and cross border transactions. India’s bid to enhance its status as an arbitration destination depends largely on the suitability of its legal environment in meeting the demands of an increasingly sophisticated approach to disputed resolution. This conference will assess these, and other related, issues.

To register your interest in attending this event, please contact Nisha Ramdas by phone +91 9650977833 or by e-mail nisha@globaldialoguereview.com.

Network Power in the Asia-Pacific: Making Sense of the New Regionalism and Opportunities for Cooperation 7 February 2020 — 9:45AM TO 5:30PM Anonymous (not verified) 17 January 2020 Chatham House | 10 St James's Square | London | SW1Y 4LE

The Asia-Pacific region continues to increase in geopolitical and geoeconomic importance. The rise of China and tensions with the US are affecting bilateral relationships and traditional alliances in the region. Whether seen from the perspective of the Quad – Australia, India, Japan and the US – or the Indo-Pacific concept embraced by a wide range of countries but with no shared consensus on scope and objectives or with ASEAN who insists on the importance of its own centrality, the region is redefining and reconceptualising itself.

With a diverse range of initiatives – including the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – there are a plethora of regional agreements and institutional groupings that add further complexity.

As the Bretton Woods architecture continues to be dominated by Western powers, China is also spearheading parallel governance initiatives such as the Asian Infrastructure Investment Bank (AIIB), the Belt and Road Initiative and the Shanghai Cooperation Organization (SCO) as a means of enhancing its geopolitical and geoeconomic influence.

This one-day conference will focus on how such networks and alliances have been built, and sustained, in the Asia-Pacific region. In order to understand how new regional initiatives might open up opportunities for new forms of international cooperation, the conference will focus on the themes of cyber-technology and innovation, sustainable development and mitigating the impacts of climate change and new infrastructure initiatives. It will assess whether there is a zero-sum conflict between competing networks and agendas or whether a common approach can be developed.

Virtual Roundtable: The Economic Implications of COVID-19 on Asia 2 April 2020 — 11:00AM TO 12:00PM Anonymous (not verified) 27 March 2020 Chatham House | 10 St James's Square | London | SW1Y 4LE

The COVID-19 pandemic is likely to have a damaging economic impact on Asia, potentially the most serious since the financial crisis two decades ago. While early estimates suggest that a recession is inevitable, differing countries in Asia are generally deploying modest fiscal and monetary measures. This is true even in China, compared with the ‘whatever it takes’ approach pursued by Europe and America.

How effective will these measures be in reviving growth and in easing the pain, particularly on the poor in developing countries in Asia? Is Asia witnessing a sudden but temporary halt in economic activity rather than a prolonged slowdown? At this virtual roundtable, the speakers will consider the likelihood of a recovery for trade in the region and will explore what lessons can be learned from countries like Singapore, who seem to be successfully managing the health and economic aspects of COVID-19.

This event is online only. After registering, you will receive a follow-up confirmation email with details of how to join the webinar.

SVB collapse shows interest rate financial stability threat Expert comment LJefferson 15 March 2023

Governments must resist pressure to relax post-financial crisis regulation, while central banks should moderate their attack on inflation if financial stability is at risk.

The collapse of California’s Silicon Valley Bank (SVB) on 10 March has triggered a wave of volatility in global bank equity prices, raised questions about whether US bank regulation and its tech industry funding model are fit for purpose, and forced a rethink on the extent and pace of monetary policy tightening appropriate for the US and other advanced economies.

SVB was the US’s 16th largest bank with total assets of $212bn at the end of 2022 and a presence in eight countries around the world, including the UK. Since it was founded 40 years ago, it has maintained a strong focus on the technology sector, claiming recently that nearly half of all US venture-backed technology and life science companies banked with it. Partly as a consequence, some 95 per cent of its deposits came from corporates and hedge funds, far higher than the one-third typical of similarly sized banks.

What led to SVB’s collapse?

Ironically, SVB’s failure did not result from its core business model of serving a relatively high-risk and fast-growing sector, but rather from a dramatic failure in liquidity management. During the pandemic, SVB saw a very large inflow of corporate deposits. But rather than disincentivizing depositors or investing the funds attracted in assets of matching maturity, it chose to invest them in low credit risk, but long maturity bonds attracted by a small pick-up in return over shorter-term assets. 

When US interest rates began to rise rapidly in 2022 following Russia’s invasion of Ukraine, the value of SVB’s long-term bond portfolio declined sharply. It was left facing a large capital loss of some $15bn, roughly equivalent to its total shareholder funds. The management attempted to repair SVB’s balance sheet last week by crystalizing some of the loss and raising new capital.

But when this failed, the US supervisory authorities had no choice but to step in and close the institution.  This action was quickly followed by emergency action from other regulators vis-a-vis SVB subsidiaries and offices around the world.

The US entity has formally been taken over by the FDIC and a bridge bank established. All depositors have had their funds guaranteed, going beyond the normal federal deposit insurance limit of $250,000 per customer. However, bond holders and equity holders have been wiped out. The authorities have said that any loss will be covered by the industry as a whole via the FDIC.

In the UK, the Bank of England was able to sell the ring-fenced UK subsidiary of SVB to HSBC for £1 over the weekend, so that all its depositors and other liability holders have effectively had their funds guaranteed. In contrast to previous Bank of England rescues (such as Johnson Matthey Bank in 1984, the ‘small banks’ crisis in 1991 and the global financial crisis in 2008-9) no public money has been put at risk.

Four key questions

SVB’s rapid collapse raises four central questions:

First, how was it that the bank was able to take on such a risky interest rate maturity mismatch in its US operations? Maturity transformation is standard banking industry practice, but it is usually closely monitored by regulators who place limits on the extent of interest rate maturity mismatch and require liquidity buffers to offset the risk of deposit flight and forced asset sales.

SVB’s very high concentration of corporate deposits as compared to ‘sticky’ retail deposits, means that the risk of deposit flight was unusually high and so the bank should have been more, not less, cautious in its liquidity policy. SVB was classed as a regional bank in the US which means that it did not have to meet international regulatory standards under Basle III. And in 2018, the Trump administration approved legislation removing the post-financial crisis requirement that banks with assets under $250bn submit to stress testing and relaxing liquidity buffer requirements.

But it is still hard to understand why regulators allowed SVB to commit such a classic banking error. On Monday, the Federal Reserve ordered an inquiry into what it has correctly described as a regulatory failure. This should look at the role played by all the elements of the oversight system including the auditors, KPMG.

Second, does SVB’s failure reflect a much bigger underlying risk in the US banking sector, and potentially other banking systems around the world, built up over the prolonged period of ultra-low interest rates? SVB’s collapse was followed by the failure of the $110bn Signature Bank in New York, as well as sharp falls in US regional bank stock prices – by close of play on 14 March, the S&P Regional Bank Index was down 22 per cent on a week before, with some individual bank stocks seeing much sharper falls.  

To the extent that banks have been covered by international bank regulatory requirements, the risk of a much broader problem should be limited because stress testing and other regulatory tests would have looked at precisely the scenario that has happened. Even where large market losses have been incurred, capital buffers should be sufficient to cover them. But as SVB has shown, there are some large banks that are seemingly not required to follow international rules, while the latest developments at Credit Suisse indicate that market concerns may still arise when other factors are in play.

Third, how far, in the light of the potential vulnerability in banking systems, should central banks in advanced countries moderate their efforts to squeeze out inflationary pressures? While inflation already appears to have peaked in many economies and the pace of interest rate rises was expected to slow, inflation is far from vanquished, as recent data in the US has demonstrated.

Fourth, does the failure of SVB tell us something new about the financial risks facing the high technology sector?  It was remarkable that a single (and not particularly large, by international standards) financial institution could have played such a central role in the tech sector in both the US and UK. 

Why was this the case and does it reflect special features of the tech/start-up sector (e.g. the need for substantial cash deposits to cover relatively large negative cash flows in the early years of operation, or the need for highly specialized lending expertise). If so, should governments take steps to mitigate such risks, given the outsized importance of this sector in many national economic strategies? 

Ethics of dealing with authoritarians 28 March 2023 — 12:00PM TO 1:00PM Anonymous (not verified) 20 March 2023 Chatham House

How can democracies simultaneously defend human rights and promote open societies while still engaging with leaders from non-democratic states as strategic allies?

In 2022, the Biden administration called upon the world’s democracies to unite against a rising tide of autocracy. Through its messaging, conferences, and op-eds, the US and its allies presented the public with a binary choice: democracy or autocracy.

But in today’s world, and in the practice of international relations, the choice is rarely this simple.  

Joel Rosenthal, president of Carnegie Council, joins Chatham House to discuss how democracies and multilateral institutions can leverage ethics as a tool to assess concerns and trade-offs when engaging with illiberal actors.

Can democracies afford to be adversarial with certain countries or overly selective in cooperation when facing global-scale challenges such as climate change and the emergence of AI?

How can democracies simultaneously defend human rights and promote open societies while still engaging with leaders from non-democratic states as strategic allies?

Boris Macek
Feb 1, 2008; 7:299-307
Research

Timothy J. Griffin
Apr 1, 2002; 1:323-333
Research

Sean R. Collins
Mar 1, 2007; 6:439-450
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Lawrence E. Ostrowski
Jun 1, 2002; 1:451-465
Research

Qiang Tian
Oct 1, 2004; 3:960-969
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N. Leigh Anderson
Nov 1, 2002; 1:845-867
Reviews/Perspectives

Yasushi Ishihama
Sep 1, 2005; 4:1265-1272
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Jesper V. Olsen
Dec 1, 2005; 4:2010-2021
Technology

Philip L. Ross
Dec 1, 2004; 3:1154-1169
Research

HIV Type 1 (HIV-1) and simian immunodeficiency virus (SIV) display differential replication kinetics in macrophages. This is because high expression levels of the active host deoxynucleotide triphosphohydrolase sterile α motif domain and histidine-aspartate domain–containing protein 1 (SAMHD1) deplete intracellular dNTPs, which restrict HIV-1 reverse transcription, and result in a restrictive infection in this myeloid cell type. Some SIVs overcome SAMHD1 restriction using viral protein X (Vpx), a viral accessory protein that induces proteasomal degradation of SAMHD1, increasing cellular dNTP concentrations and enabling efficient proviral DNA synthesis. We previously reported that SAMHD1-noncounteracting lentiviruses may have evolved to harbor RT proteins that efficiently polymerize DNA, even at low dNTP concentrations, to circumvent SAMHD1 restriction. Here we investigated whether RTs from SIVmac239 virus lacking a Vpx protein evolve during in vivo infection to more efficiently synthesize DNA at the low dNTP concentrations found in macrophages. Sequence analysis of RTs cloned from Vpx (+) and Vpx (−) SIVmac239–infected animals revealed that Vpx (−) RTs contained more extensive mutations than Vpx (+) RTs. Although the amino acid substitutions were dispersed indiscriminately across the protein, steady-state and pre-steady-state analysis demonstrated that selected SIVmac239 Vpx (−) RTs are characterized by higher catalytic efficiency and incorporation efficiency values than RTs cloned from SIVmac239 Vpx (+) infections. Overall, this study supports the possibility that the loss of Vpx may generate in vivo SIVmac239 RT variants that can counteract the limited availability of dNTP substrate in macrophages.

Lys234 is one of the residues present in class A β-lactamases that is under selective pressure due to antibiotic use. Located adjacent to proton shuttle residue Ser130, it is suggested to play a role in proton transfer during catalysis of the antibiotics. The mechanism underpinning how substitutions in this position modulate inhibitor efficiency and substrate specificity leading to drug resistance is unclear. The K234R substitution identified in several inhibitor-resistant β-lactamase variants is associated with decreased potency of the inhibitor clavulanic acid, which is used in combination with amoxicillin to overcome β-lactamase–mediated antibiotic resistance. Here we show that for CTX-M-14 β-lactamase, whereas Lys234 is required for hydrolysis of cephalosporins such as cefotaxime, either lysine or arginine is sufficient for hydrolysis of ampicillin. Further, by determining the acylation and deacylation rates for cefotaxime hydrolysis, we show that both rates are fast, and neither is rate-limiting. The K234R substitution causes a 1500-fold decrease in the cefotaxime acylation rate but a 5-fold increase in kcat for ampicillin, suggesting that the K234R enzyme is a good penicillinase but a poor cephalosporinase due to slow acylation. Structural results suggest that the slow acylation by the K234R enzyme is due to a conformational change in Ser130, and this change also leads to decreased inhibition potency of clavulanic acid. Because other inhibitor resistance mutations also act through changes at Ser130 and such changes drastically reduce cephalosporin but not penicillin hydrolysis, we suggest that clavulanic acid paired with an oxyimino-cephalosporin rather than penicillin would impede the evolution of resistance.

Russia's end games and Putin's dilemmas Expert comment NCapeling 14 February 2022

As warnings from Washington and London intensify, the period of maximum danger in the Ukraine standoff has begun. Even if conflict is avoided, the status quo has gone.

There are several reasons to believe conflict over the Ukraine is imminent. The military build-up is complete. Russia has added tactical support elements, including medical units, to its already large and comprehensive array of troops and equipment deployed to the east, north, and south of Ukraine.

Additional naval units have entered the Black Sea, military exercises with Belarusian forces have begun and, along with those on Russian territory, these can all provide cover for an intervention of some sort.

Far from being comforting, comments by Vladimir Putin and his entourage that it will not be Russia provoking a conflict are ominous. Russian media has ramped up domestic programming about the ‘imminent Ukrainian fascist threat’ to the motherland. And a recent US intelligence briefing alleges sophisticated preparations by Russian intelligence include releasing a video of a staged attack on Russian-speaking civilians in northern Ukraine.

Should Russia attack, its ‘fortress economy’ could weather a new round of sanctions for several years, not least given the growth in Russia’s hard currency reserves to $630 billion, under 20 per cent of which are now held in US dollars, and the high demand for – and global price of – oil and gas.

What does Putin really want?

Diplomacy is in high gear but, as Putin and other senior Russian figures have made clear, the US and European offers of new security confidence-building measures do not address Russia’s two core, stated demands – namely to withdraw US and NATO forces close to its borders in former Soviet and Warsaw Pact states, and to end NATO’s ‘open door’ policy to future enlargement.

For the Kremlin, enlargement to Ukraine would remove a critical buffer between Russia and the NATO alliance. If Putin’s objective, therefore, was simply to put down an unambiguous marker that Ukrainian membership of NATO is a red line, he has made progress.

He has reminded the world and Ukraine’s leadership of that country’s strategic vulnerability. US president Joe Biden and his European counterparts have stated NATO will not commit forces to defend Ukraine if it is attacked. And although they remain resolute on the ‘open door’ policy, there have been reminders NATO does not accept new members who risk importing a pre-existing conflict into the alliance.

If another Putin objective was to refocus US and, to a lesser extent, European attention away from China and back onto Russia and its security interests, he has succeeded. NATO has offered some new confidence-building measures around the conduct of military exercises and deployment of forces, while the US may be willing to enter negotiations for a new treaty with Russia to limit nuclear missiles deployed in Europe.

This would mean setting aside the growing threat posed by Chinese missiles that had partly motivated the Donald Trump administration to withdraw unilaterally from the Intermediate-Range Nuclear Forces (INF) Treaty.

But there is another scenario to consider – that although these two issues are both important, neither are Putin’s core objective, which instead is to right once and for all the historical ‘wrong’ of Ukraine’s separation from Russia in 1991.

As Putin made clear in a lengthy essay in July 2021, he sees an independent, sovereign Ukraine as a historical aberration, and he blames the US for the deepening discord and animosity between ‘brotherly’ Ukraine and Russia.

Not stated in the essay is that the emergence of a more democratic and functional Ukraine poses an existential threat to Putin’s own control over Russia. In contrast, reincorporating Ukraine into a ‘greater Russia’ would underpin his now constitutionally-mandated opportunity to reign until 2036, as well as being his biggest legacy.

The problem is it seems impossible to bring Ukraine permanently back into Russia’s sphere of influence without some form of new military intervention.

Putin’s options

Putin’s strategy to date has been limited to ensuring the breakaway Ukrainian portions of Donetsk and Lugansk gain a legal right to block any future efforts by the central Ukrainian government to join either the European Union (EU) or NATO.

The Kremlin sees expansive interpretation and implementation of the 2014-15 Minsk protocols allowing self-governance for these areas currently under Russian military control as a potential route to this outcome. But for Volodomyr Zelensky or any future Ukrainian president to accept this would be political suicide, and Kyiv has already resisted French and German pressure to make this concession under the Normandy Format of meetings they share with Russia.

If Putin has now decided to undermine Ukrainian sovereignty more explicitly, he can order a limited military intervention further into these occupied territories – and perhaps areas adjacent to them and Crimea – under the pretext of ‘protecting’ Russian-speaking communities there.

This would be relatively easy to achieve and, combined with a blockade of Ukraine’s Black Sea ports, could successfully destabilize the government in Kyiv. But such steps would trigger international economic sanctions and drive Ukraine even further towards the West.

A 21st century ‘blitzkrieg’ to take Ukrainian territory as far as the Dnipro River including Kyiv and all points east, would come closer to achieving Putin’s territorial and historic legacy. And this is now a feasible option given Russia’s military superiority. But how easily Russia could then hold the territory and consolidate its political control would be doubtful, and these moves also bring high-risk, long-term economic and diplomatic costs to Russia and to him personally.

No return to the status quo

On balance, Russian military intervention in the coming days or weeks is still less rather than more likely. Putin may yet accept a new, visible, bilateral accommodation with the US on the future of European security.

SNF Dialogues: Social media, social movements and political change 6 July 2022 — 2:30PM TO 3:45PM Anonymous (not verified) 15 June 2022 Online

Experts and activists explore how the digital world has changed the nature of social movements and the impact this has on policymaking.

From Extinction Rebellion to Black Lives Matter, social movements are increasingly harnessing social media to project their calls for action. This event, convened in partnership with the SNF Dialogues series, will reflect on the value of social media to social movements and the effects of such digital movements on policymakers. Experts and activists from around the world will explore whether social media is an effective tool for social movements or a distraction, the extent to which digital forms of protest incite social change, and finally if this change has an impact on policy decisions.

The SNF Dialogues, an initiative of the Stavros Niarchos Foundation (SNF), are a series of monthly discussions whose goal is to foster the exchange of ideas, inspire a new way of thinking and acting, and encourage and elevate public discourse across geographic boundaries. The Dialogues discussions are free and open to the public, aiming to bring to light timely questions and developments, share informed reflections and concerns, highlight new data and angles, and present fascinating people, projects and ideas.

The Dialogues are curated and moderated by Anna-Kynthia Bousdoukou and are facilitated by the non-profit journalism organization iMEdD (incubator for Media Education and Development).

The discussion will be conducted in English with simultaneous interpretation into Greek. If you wish to watch the discussion in Greek, tune in here.

Independent Thinking: Humanitarian disaster in Syria and Turkey Audio NCapeling 16 February 2023

Episode 15 of our weekly podcast examines the far-reaching consequences of the earthquakes which struck Turkey and Syria on the region’s fragile geopolitics.

With thousands killed and international aid flooding in, what hope is there for the many thousands of people in Syria and Turkey caught between the groups and governments involved in conflict for more than a decade.

The panel aslo discusses the political impact within Turkey, as fears grow that President Recep Tyap Erdogan may postpone the upcoming election amid outcries over corruption and the devastating loss of life.

Joining Bronwen this week is Lina Sinjab, Syrian filmmaker and BBC journalist covering the Middle East, Charles Lister, senior fellow and director of the Syria programme at the Middle East Institute, and Ziya Meral, senior associate fellow on Turkey at the Royal United Services Institute (RUSI).

About Independent Thinking

A weekly podcast hosted by Chatham House director Bronwen Maddox, in conversation with leading policymakers, journalists, and Chatham House experts providing insight on the latest international issues.

Independent Thinking: Russia’s invasion one year on Audio NCapeling 23 February 2023

Episode 16 of our weekly podcast examines the global impact of Russia’s war on Ukraine one year on from when Vladimir Putin launched his all-out assault.

Following a decision which unleashed the largest war seen in Europe since 1945, with hundreds of thousands of casualties on all sides, the panel examines the impact of the invasion for Ukraine and its people, but also the world.

Also under discussion are key insights from the recent Munich Security Conference, and the announcement this week by Russian president Vladimir Putin to susend his country’s participation in the vital New START nuclear weapons treaty.

Joining Bronwen on the show this week from the Russia and Eurasia programme at Chatham House is programme director James Nixey and associate fellow Samantha de Bendern, alongside Patricia Lewis, director of our International Security programme. They are joined on the panel by Mariya Ionova, a Ukrainian opposition MP.

About Independent Thinking

A weekly podcast hosted by Chatham House director Bronwen Maddox, in conversation with leading policymakers, journalists, and Chatham House experts providing insight on the latest international issues.

Independent Thinking: Nigeria votes, Northern Ireland deal Audio NCapeling 2 March 2023

Episode 17 of our weekly podcast examines the outcome of Nigeria’s presidential election and the new deal for Northern Ireland negotiated by the UK and EU.

On 24 February, millions of Nigerians went to the polls in an election widely seen as crucial for the direction of the country, with the winner Bola Ahmed Tinubu declared the new president-elect. The panel discusses the state of Nigeria’s democracy and what lies ahead for the new administration.

In addition, UK prime minister Rishi Sunak and European Commission president Ursula von der Leyen announced a new deal for Northern Ireland with implications for all the UK. Three years after the UK formally left the European Union (EU), has Rishi Sunak now got Brexit done?

Joining Bronwen Maddox are Leena Koni Hoffman, associate fellow with the Chatham House Africa programme, Aanu Adeoye, West African correspondent for the Financial Times and an academy associate at Chatham House, and Charles Grant, director of the Centre for European Reform.

About Independent Thinking

A weekly podcast hosted by Chatham House director Bronwen Maddox, in conversation with leading policymakers, journalists, and Chatham House experts providing insight on the latest international issues.

Independent Thinking: India, International Women's Day Audio NCapeling 9 March 2023

Episode 18 of our weekly podcast examines issues for women working in international affairs, and tackles India’s domestic politics and international standing.

Our panel this week discuss their experiences working professionally in global affairs and what advice they have for other women wanting to work in public policy.

India is also under discussion as Chatham House hosted Rahul Gandhi, leading Indian politician and former president of the Indian National Congress (INC). The panel considers his remarks about India’s internal quandaries and international perceptions of the country, almost a decade on from the 2014 election which brought Narendra Modi and the BJP to power.

Joining Bronwen Maddox from Chatham House are Rashmin Sagoo, director of the International Law programme, Anna Aberg from the Environment and Society programme, Armida van Rij from the International Security programme, and Isabella Wilkinson, research associate on cybersecurity. They are joined by Dr Mukulika Banerjee, who was until recently the director of the LSE South Asia Centre.

Independent Thinking: UK Integrated Review, Georgia protests Audio NCapeling 16 March 2023

Episode 19 of our weekly podcast examines the AUKUS deal, UK defence priorities, and the state of Georgia’s democracy following anti-government protests.

The UK and Australia will soon be building nuclear submarines together, but is the UK’s tilt to the Indo-Pacific sustainable? Two years on from the last Integrated Review, has the UK finally clarified its foreign policy priorities on Russia, China, and on defence? And is the money there to do it all?

Also on the show, the panel discusses Georgia following recent anti-government protests in Tbilisi. Following the Rose revolution in 2003, Georgia seemed to be on a path towards closer ties with NATO and the European Union (EU). But the country’s government has recently moved closer to Russia and Vladimir Putin. What is the state of Georgia’s democracy and where is the country heading?

Joining Bronwen Maddox from Chatham House is Creon Butler, director of our Global Economy and Finance programme, Professor Andrew Dorman, editor of the International Affairs journal, and Alice Billon-Galland, research fellow in our Europe Programme.

They are joined by Natia Seskuria, associate fellow with the Royal United Services Institute (RUSI) and Arthur Snell, former diplomat and host of the podcast Doomsday Watch.

About Independent Thinking

A weekly podcast hosted by Chatham House director Bronwen Maddox, in conversation with leading policymakers, journalists, and Chatham House experts providing insight on the latest international issues.

Synapse loss is associated with motor and cognitive decline in multiple neurodegenerative disorders, and the cellular redistribution of tau is related to synaptic impairment in tauopathies, such as Alzheimer's disease and frontotemporal dementia. Here, we examined the cellular distribution of tau protein species in human tau overexpressing line 66 mice, a transgenic mouse model akin to genetic variants of frontotemporal dementia. Line 66 mice express intracellular tau aggregates in multiple brain regions and exhibit sensorimotor and motor learning deficiencies. Using a series of anti-tau antibodies, we observed, histologically, that nonphosphorylated transgenic human tau is enriched in synapses, whereas phosphorylated tau accumulates predominantly in cell bodies and axons. Subcellular fractionation confirmed that human tau is highly enriched in insoluble cytosolic and synaptosomal fractions, whereas endogenous mouse tau is virtually absent from synapses. Cytosolic tau was resistant to solubilization with urea and Triton X-100, indicating the formation of larger tau aggregates. By contrast, synaptic tau was partially soluble after Triton X-100 treatment and most likely represents aggregates of smaller size. MS corroborated that synaptosomal tau is nonphosphorylated. Tau enriched in the synapse of line 66 mice, therefore, appears to be in an oligomeric and nonphosphorylated state, and one that could have a direct impact on cognitive function.

Alzheimer's disease (AD) is characterized by neuronal loss and accumulation of β-amyloid-protein (Aβ) in the brain parenchyma. Sleep impairment is associated with AD and affects about 25–40% of patients in the mild-to-moderate stages of the disease. Sleep deprivation leads to increased Aβ production; however, its mechanism remains largely unknown. We hypothesized that the increase in core body temperature induced by sleep deprivation may promote Aβ production. Here, we report temperature-dependent regulation of Aβ production. We found that an increase in temperature, from 37 °C to 39 °C, significantly increased Aβ production in amyloid precursor protein-overexpressing cells. We also found that high temperature (39 °C) significantly increased the expression levels of heat shock protein 90 (Hsp90) and the C-terminal fragment of presenilin 1 (PS1-CTF) and promoted γ-secretase complex formation. Interestingly, Hsp90 was associated with the components of the premature γ-secretase complex, anterior pharynx-defective-1 (APH-1), and nicastrin (NCT) but was not associated with PS1-CTF or presenilin enhancer-2. Hsp90 knockdown abolished the increased level of Aβ production and the increased formation of the γ-secretase complex at high temperature in culture. Furthermore, with in vivo experiments, we observed increases in the levels of Hsp90, PS1-CTF, NCT, and the γ-secretase complex in the cortex of mice housed at higher room temperature (30 °C) compared with those housed at standard room temperature (23 °C). Our results suggest that high temperature regulates Aβ production by modulating γ-secretase complex formation through the binding of Hsp90 to NCT/APH-1.

India–Russia relations Explainer LToremark 14 October 2024

Explaining the history and current state of the relationship between India and Russia, its geopolitical significance, the importance of trade and defence cooperation, and the impact of the war in Ukraine.

What is the history of India’s relationship with Russia? 

The two countries established diplomatic relations in April 1947, shortly before India gained independence. India was on a quest to achieve economic self-sufficiency, so the then-Soviet Union was an important partner in terms of providing support for the country’s heavy industry, with investment in mining, energy and steel production. India’s economic planning model was also based on the Soviet five-year plan.

There is a high degree of historical affinity towards Russia in India, particularly among the older generation of policy elites. This is because the Soviet Union supported India during the Cold War, notably during the 1971 war between India and Pakistan, in which the US and China sided with Pakistan. This was arguably the peak of the Indo–Soviet relationship and also the year that the two countries signed a treaty of friendship and cooperation.

But even before that, the Soviet Union had supported India. During the 1965 war between India and Pakistan, the USSR played a mediating role and hosted the so-called Tashkent summit in 1966 where a peace treaty was signed.

The Soviet Union also used its UN Security Council veto several times in support of India, half a dozen times between 1957 and 1971. This was usually on the issue of Kashmir and once with respect to India’s military intervention in Goa to end Portuguese rule. It was also routine for the Indian prime minister to stop over in Moscow on the way back from Washington.

The relationship has continued into the post-Cold War period. Annual summits have been held since 2000, when a strategic partnership was signed (and subsequently upgraded in 2010). India and Russia have also been holding so-called 2+2 meetings – joint meetings with foreign and defence ministers – since 2021.

India’s External Affairs Minister Subrahmanyam Jaishankar has referred to the India–Russia relationship as the one constant in global politics over the last half century.

What is the current relationship between India and Russia? 

Russia remains a key strategic partner for India for both practical and ideological reasons. On the practical side, India benefits significantly from access to discounted Russian crude oil, which has increased from less than 2 per cent of India’s total imports before the Russian invasion of Ukraine to over 40 per cent in June 2024. Indian companies have also benefitted from exporting refined Russian oil products, some of which have found their way onto Western markets.

But energy cooperation is not confined to oil. It also includes cooperation in the nuclear space, where there is a strong historical foundation. When India conducted its first nuclear test in 1974, the Soviet Union did not shun cooperation with India – unlike the US. Compared to the US, Russia has also been able to better navigate India’s civil nuclear liability law, which was put in place in 2010. In February 2024, India and Russia upgraded an agreement to build six civil nuclear power plants in the Indian state of Tamil Nadu.

The other area of practical cooperation is defence. Russia accounts for over 50 per cent of India’s in-service military platforms. India is also the largest recipient of Russian arms exports, including the S400 missile defence system. There has been joint production of several platforms, such as the Brahmos supersonic cruise missile, which has been exported to third countries, starting with the Philippines. 

Russia has been a preferred arms supplier for India for many years because it provides arms at reasonable prices without end user constraints, and is often able to supply sensitive technologies, which other countries are not.

There is also a long-standing economic relationship. India and Russia aim to increase bilateral trade from $68 billion to $100 billion by the end of this decade. Connectivity initiatives include the Chennai-Vladivostok maritime corridor and the International North-South Transport Corridor.

There are regular interactions between the leaders of the two countries. Prime Minister Narendra Modi and President Vladimir Putin have met 17 times in the last decade and have held annual summits since 2000, with a few exceptions – and a notable gap following Russia’s invasion of Ukraine.

There is also a push to try and negotiate bilateral visa free access for Indians to increase people-to-people and tourism exchanges between the two countries.

There is also an ideological component to the relationship, which is often overlooked. One aspect is that India has a long-standing commitment to strategic autonomy in its foreign policy, which means engaging all major poles of influence in the international system – including Russia. There is also the aforementioned historical affinity due to Soviet support for India during the Cold War.

But the relationship is undergoing a managed decline. It does not have the same level of strategic importance as it did during the Cold War.

Although India still depends on Russia for a large proportion of its military hardware, since the 1990s there has been a push to diversify. As part of the ‘Make in India’ campaign, there is an attempt to strengthen domestic defence production as well as diversify to other countries. Between 2009 and 2013, 76 per cent of India’s arms imports were from Russia, but this has dropped to 36 per cent between 2019 and 2023 according to SIPRI.

While this trend predates the war in Ukraine, it has been accelerated by the war. There has been a delay in the delivery of several defence platforms, most notably the S400 missile defence system, as well as spare parts for fighter jets. The prolonged war of attrition in Ukraine has also undermined Indian confidence in some Russian military hardware.

There is decline on the ideological side too. India is trying to project a world view that is non-Western but not explicitly anti-Western. This puts it out of sync with Russia’s world view, and that of countries like China and Iran. 

India is increasingly aloof or estranged from forums where Russia plays a prominent role, such as the Shanghai Cooperation Organization (SCO). Modi did not attend the July 2024 SCO summit. When India held the presidency of the SCO in 2023 it was a low-profile presidency and there was a virtual summit. In contrast, India’s high-profile G20 presidency in 2023 was framed as the country’s ‘coming out party’.

While Modi and Putin met in July 2024, it was the first time that they had met since September 2022, a significant gap.

What is more, their economic interactions are highly skewed. There is roughly $68 billion in trade between the two countries but $60 billion of that is oil imports. India’s large share of Russian crude imports also means that Russia holds a surplus of Indian rupees, which has caused some friction in terms of rouble-rupee trade.

On the Indian side, there have also been concerns about a number of Indian nationals that have been duped into fighting for Russia in the Ukraine conflict.

But although the relationship is not what it once was, Russia will remain a key strategic partner for India for the foreseeable future.

Does India support Russia’s war on Ukraine? 

India has neither condoned nor condemned Russia’s actions. The Indian government has been vocal in expressing its displeasure of the war and Modi has said that now is ‘not an era of war’. He has also expressed sorrow for the bombing of a children’s hospital, hit by Russian airstrikes in July 2024. During his August 2024 visit to Ukraine, Modi said that India’s position is not neutral, but that it stands on the side of peace.

But there is a gap between rhetoric and reality. India in fact maintains quite a neutral position. It has abstained in UN General Assembly resolutions condemning Russia’s actions. It did not endorse the joint communique produced at a peace conference in Switzerland in June 2024, which Modi also did not attend. And the G20 leaders’ declaration that was concluded under India’s G20 presidency had no mention of Russian actions in Ukraine.

India has also emerged as the second-biggest supplier of restricted critical technologies to Russia (behind China), helping to fuel Russia’s war machine.

This reflects India’s practical or pragmatic considerations, including its dependence on Russian military hardware and access to discounted Russian crude. But there is also a degree of sympathy in New Delhi for the Russian narrative of the war, that Moscow’s actions were sparked by NATO expansion into Russia’s self-perceived sphere of influence.

In theory, India is well positioned to play the role of a potential mediator. It maintains close ties with both Moscow and Washington, unlike other countries that have close relations with Russia, such as China, Iran or North Korea. The West has been understanding of India’s strategic constraints in terms of its dependence on Russian military hardware and its energy needs. But so far, India’s actions have been largely driven by self-interest. Despite its statements, it has not made any peace proposals like those of Turkey or China.

Indian symbolism over substance was also clear in Modi’s summer 2024 meetings with Putin and Zelenskyy.

Modi visited Putin in July 2024 – a visit that coincided with Russian airstrikes in Ukraine. Zelenskyy called the meeting a devastating blow to peace efforts. And the optics of Modi hugging Putin while a Ukrainian children’s hospital was bombed prompted a degree of damage control by New Delhi, leading to Modi’s visit to Ukraine in August 2024.

His visit to Ukraine was an attempt to reaffirm India’s position of neutrality on the war and its long-standing position of strategic autonomy. It was also an attempt at a course correction in India’s relationship with Ukraine. Modi was the first Indian prime minister to visit Ukraine since the two countries established diplomatic relations in 1993.

How does China impact India–Russia relations? 

China is an important consideration in terms of India’s strategic calculations towards Russia. One of the reasons New Delhi is eager to maintain engagement with Russia is fears that Moscow is becoming increasingly beholden to Beijing following its invasion of Ukraine. India wants to provide Russia with strategic options as it becomes increasingly isolated and wants to deter it from becoming a client state of China. In parts of the West, that is already seen as a foregone conclusion, but Russia is not yet seen as a lost cause in India.

The other point to keep in mind is that China and India largely see eye to eye on the Ukraine war. Neither see their close relationship with Moscow as translating into overt support for Russian actions in Ukraine. Both countries believe they are playing a constructive role through their purchase of discounted Russian crude, which is helping to control global energy prices.

But a key watch point is what would Russia’s position be on possible future hostilities between China and India. Historically, Moscow has played a relatively neutral position and has occasionally offered to play a mediating role. It has even leaned in India’s favour on occasion and has provided it with more advanced military platforms than it has provided China. 

The fear in New Delhi is that this could be shifting and in the future Moscow could side with China in a potential conflict or tensions with India. That would be a game changer for India and would prompt it to rethink its relationship with Russia.

Moldova and Georgia face crucial elections – and diverging paths Expert comment LToremark 16 October 2024

The two countries face unusually consequential elections where their populations must choose between moving unambiguously towards the West – or towards closer ties with Russia.

Moldova and Georgia both go to the polls at the end of October; Moldova for presidential elections on the 20^th and Georgia for parliamentary elections on the 26^th. The two countries share a number of similarities – beyond their justified reputation as world-class wine producers. They are both small, low- to middle-income countries that have struggled to consolidate their democracies and have experienced oligarchic political influence. Both are candidate countries for EU membership, with Moldova a step ahead having been invited to start negotiations. 

For both countries these elections represent a fork in the road: either move unambiguously into the Western world, or step back from it and become more closely tied to Russia again and its way of governance. However, the second option has caused yet-to-be-resolved territorial conflicts in both countries – Transnistria for Moldova, and Abkhazia and South Ossetia for Georgia.

Some would say it should not be such a ‘zero sum’ choice. Why must a nation choose between Russia and the West? While that may be a fair statement for countries like India or South Africa, it does not work for Russia’s former colonies, which Moscow wishes to control. 

Moldova and Georgia’s final similarity is that they face Russian interference and attempts to manipulate votes in their elections. In Moldova this has been especially brazen with the uncovering in September of a $15 million vote-buying scheme, including instructions on who to vote for distributed to over 130,000 citizens. Russian interference in Georgia’s election is less overt but at the same time more endemic considering its government has in effect been captured by pro-Russia forces.

Diverging paths

But this is where the similarities end and the contrasts become clear.

Moldova has a young, pro-Western and equality-conscious government, and 44 of the 100 MPs in its parliament are women. In this election, Maia Sandu is seeking her second and final term as president. The election is combined with a referendum asking the people if they wish to embed Moldova’s EU aspirations into the country’s constitution. The results of both the presidential election and the EU referendum will be close, reflecting a genuine split in attitudes (and debate) in the country. 

Georgia’s EU aspirations, meanwhile, are already embedded in its constitution – but that has not prevented Tbilisi from pivoting away from the West. Polls show   that around 80 per cent of Georgia’s population desires EU (and NATO) membership – rising to 90 per cent among the under 30s – but its government seems determined to deny them that future. 

Its new ‘foreign agents’ law is seemingly copy-pasted from Russia – and incompatible with EU membership. The election can be seen as a de facto referendum on the EU too. Georgia’s accession is suspended until its political crisis is resolved. 

Georgia faces other challenges to its democracy. Due to the country’s limited presidential powers, Georgia is in effect run by the unelected Bidzina Ivanishvili – founder of the ruling Georgian Dream (GD) party – whose relationship with Russia is murky at best. Judging by his recent speeches, Ivanishvili now blames the Western world not just for igniting the war in Ukraine, but also for the war in Georgia 16 years ago which resulted in the loss of 20 per cent of its territory at the hands of Russia. This extraordinary position is both factually incorrect and out of step with the Georgian people.

Both countries are now at a critical point. Whatever the outcome in Moldova, the election will pass off peacefully and competently. Its problems (Russia aside) are demographic and economic, and the country’s pro-Russian opposition is relatively weak.

Georgia’s election looks like it is going to be messy. Ivanishvili’s party will likely manipulate the election to a win. There is still a chance that Georgia’s pro-Western but also weak opposition will regain power and return the country to its European path. But if the manipulation by the incumbency is heavy, people will likely take to the streets in protest, as in April this year – and in the 2003 Rose Revolution.

Regime change via popular revolution shows political immaturity but the Georgian people may feel it is the only way they can have their views represented and their ambitions realised. 

Addressing Russia’s use of forced displacement in Ukraine 7 November 2024 — 12:30PM TO 2:00PM Anonymous (not verified) 17 October 2024 Chatham House and Online

Experts consider the role international law could play in responding to Russia’s forcible movement of people during its war against Ukraine.

In the two and a half years since its full-scale invasion of Ukraine, evidence has emerged of Russia’s use of forced deportation and forcible transfer. Russia has also employed arbitrary detention as a tool of war and occupation.

Much attention has been on the International Criminal Court’s arrest warrants against Russian President Vladimir Putin and his children’s commissioner Maria Alekseyevna Lvova-Belova. These warrants were issued in relation to the alleged war crimes concerning the unlawful deportation of children from Ukraine to Russia and the unlawful transfer of thousands of children from occupied areas of Ukraine.

Meanwhile, Ukrainian citizens are being arrested and sent to Russia to serve prison sentences. They are often detained without charge and conviction.

This panel discussion explores:

• What evidence is emerging of Russia using unlawful deportation and transfer of children, and the arbitrary detention of civilians?
• What is the role and significance of international law on these issues?
• What challenges might these practices create for later peace negotiations, as well as the securing of justice?
• What is the process of releasing illegally detained Ukrainians, and Ukrainian children in particular, and reuniting them with their families? How do Russian volunteers inside Russia cooperate with Ukrainian NGOs to facilitate family reunification?

The event includes a screening of part of the documentary After the Rain: Putin’s Stolen Children. 

The institute occupies a position of respect and trust, and is committed to fostering inclusive dialogue at all events. Event attendees are expected to uphold this by adhering to our code of conduct.

Sinwar’s death does not make Hamas–Fatah reconciliation more likely, whoever his successor may be Expert comment jon.wallace 22 October 2024

The killing may aid Hamas recruitment – but it will not make agreement with Fatah any easier to achieve.

Western political leaders were quick to argue that Israel’s killing of Hamas leader Yahya Sinwar on 17 October presented an opportunity for a ceasefire in Gaza and the return of Israeli hostages.

US President Joe Biden immediately called on Israeli prime minister Benjamin Netanyahu to seize the moment to negotiate, now that Israel has achieved one of its war aims.

However, that ‘moment’ has already passed. Israel’s military assault on Gaza has intensified since Sinwar was killed, leading UN Peace Process Co-ordinator Tor Wennesland to say that ‘nowhere is safe in Gaza’. It is abundantly clear Netanyahu is intent on further degrading Hamas, resetting a new ‘power balance’ and carving out a buffer zone, no matter the cost in Palestinian lives or Israeli hostages. 

But there are other implications of Sinwar’s assassination beyond the zero-sum analysis of will there or won’t there be a ceasefire.

Hamas’s ability to fight

At present, everyone has an opinion on how Sinwar’s killing will affect Hamas and its ability to resist and respond to Israel’s military. His death will have been a major blow – symbolically, operationally, and psychologically. Hamas has been downgraded and its capacity to respond compromised.

But it will recover, regenerate and retaliate in time – and Sinwar’s death will have been no surprise to Palestinians in Gaza or elsewhere. Hamas is accustomed to seeing its leaders assassinated. Since its formation in 1987, it has been ‘decapitated’ many times, only to continue with its mission to ‘liberate Palestine’.

Hamas’s portrayal of Sinwar dying in his fatigues, head wrapped in a keffiyeh and resisting until the end will persuade many young Palestinians that he died as a martyr serving the Palestinian cause. Many will be inspired to join and fortify the ranks of Hamas as a result.

The IDF’s release of drone footage showing Sinwar’s last moments will have done nothing to undermine his credibility. 

On the contrary, it will serve as a rallying call to disaffected and disenfranchised young Palestinians horrified by Israel’s bombing of civilian targets in Gaza and disaffected with Fatah’s inability to prevent Israeli settler expansion and violence in the West Bank.

Reconciliation

Some hope that if Sinwar is replaced by a more ‘moderate’ leader, his killing may smooth the path to Hamas–Fatah reconciliation – and that this could provide a foundation for a patchwork political solution when Israel and Gaza arrive at the ‘day after.’  

But the idea that a downgraded and ‘leaderless’ Hamas will be susceptible to international pressure to reconcile with Fatah is divorced from reality.  

Prospective new Hamas leaders such as Khaled al Meshaal and Khalil al-Hayya are based in Qatar. 

They may be more pliable to external pressure to reconcile with Fatah in search of a political outcome, but their ability to influence events on the ground in Gaza will be limited. That was demonstrated by the Sinwar-orchestrated attacks on 7 October 2023, which took place without the blessing of the exiled leadership in Doha.

Hamas has long gone to ground in Gaza and become far more decentralized than it was before 7 October. It is now more typical of an insurgency, where Hamas cadres exercise a great degree of operational autonomy.

In other words, the disconnect between Hamas in Gaza and its political leadership in Qatar has only grown wider since this round of conflict started.

International efforts

That will undermine international efforts made by Qatar, Egypt, Saudi Arabia, China, Russia and others to bring about a reconciliation. Moscow and Beijing already hosted reconciliation talks in February and April early this year but made no progress in closing the chasm between the two parties. Saudi Arabia has also hosted talks.

The three Arab states, none of which have so far commented publicly on Sinwar’s killing, will likely view his death as an opportunity to bolster the political wing of Hamas – backing it with pledges of political, diplomatic and financial support.

Saudi Arabia and Egypt will have next to no influence over the succession process, but Qatar’s long-established relationship with the political wing of Hamas affords it leverage over the organization, albeit limited. They may be able to strengthen the hand of those based in Doha by promising to work harder at securing a ceasefire, guaranteeing the provision of humanitarian relief, and working towards a political solution.

How to revive Europe’s economy and unlock its potential 7 November 2024 — 6:00PM TO 7:00PM Anonymous (not verified) 22 October 2024 Chatham House and Online

Enrico Letta, former prime minister of Italy, and other experts discuss how the European Union’s economy must adapt to a challenging world.

Amid a fractured geopolitical environment, global trade volatility and hardening protectionist policies in many countries, the European economy must adapt fast. The single market is a key driver of European integration, but it was designed in a very different global economic context.

Launched in April, Enrico Letta’s Much more than a market report set out how the European Union should adapt the arrangements of the single market to ensure it delivers prosperity and economic security for EU citizens in the 21st century. The report resonates with ongoing debates over the future of European competitiveness, industrial strategy and how to respond to an apparently deglobalizing world. In this event, Letta and other experts on the European economy and integration will discuss the prospect of meaningful reform of the single market, and what the incoming Commission can do to ensure the EU unlocks the potential of its economy for all its citizens.

Key questions will include:

• What dynamics are shaping the Europe’s economic landscape?
• What opportunities are there to enhance the strength and competitiveness of the single market
• How can the EU’s leaders ensure the single market is aligned with other strategic objectives such as security and enlargement?
• What political hurdles may prevent progress on single market reform? And how can these be overcome?

The institute occupies a position of respect and trust, and is committed to fostering inclusive dialogue at all events. Event attendees are expected to uphold this by adhering to our code of conduct.

Where is Georgia now heading? 28 October 2024 — 2:30PM TO 3:30PM Anonymous (not verified) 23 October 2024 Online

After pivotal elections, experts discuss what the declared results and reactions mean for Georgia.

Following a year marked by protests over the controversial ‘Foreign Agents’ bill and broader concerns over democratic backsliding, Georgia faces pivotal parliamentary elections on 26 October. Regardless of the outcome, the results are expected to be contested as well as consequential.

In the wake of the election, experts will discuss the immediate and longer-term consequences.

Key questions:

• These were the first fully-proportional elections in Georgia. How much difference did it make
• What will the election results, as we currently understand them, mean for Georgia’s path to European integration? How will they affect Georgia’s foreign policy priorities?
• What role should the EU play? Is Georgia a test case for the EU as an aspiring geopolitical power?
• Is the oligarchic grip likely to be tightened or loosened? What role for undue influence now?
• Has Russia done all it can for now in Georgia? Or is there more it can do?

Safeguarding Europe: how to defeat and deter Russia 10 December 2024 — 10:00AM TO 7:30PM Anonymous (not verified) 23 October 2024 Chatham House

Threat assessment and practical solutions.

Nearly three years into Russia’s full-scale war against Ukraine, the security picture for Europe remains uncertain. Questions of European states’ own resilience and ability to counter Russia and support Ukraine have not been adequately answered by key European powers. So how can European states act proactively to support not only Ukraine but also their own security?

Key questions:

• How resilient is Europe to the challenge posed by Russia?
• What more can be done to defend EU candidate states?
• What will be the impact of the US election results?
• What deters Russia? What have we learnt from Russia’s war on Ukraine?
• Are the current approaches sufficient?

This one-day, in-person conference at Chatham House will bring together experts and policymakers from across the UK, EU and US, as well as drawing from the expertise of Russian analysts in exile. Alongside analysis of Russia’s intentions towards Europe and European strategy, there will be opportunity for in-depth conversation with experts on the geopolitical and defence tools available to European states.

This conference will be hosted in-person, with the recording of the keynote address made available on the website following the event.

Participants will be selected based on expertise. Please wait for confirmation before attending.

Corporate organisations who currently do not support the Russia-Eurasia Programme or Ukraine Forum will be subject to a fee. Your registration will be reviewed by a member of our team before it is approved.

The institute occupies a position of respect and trust, and is committed to fostering inclusive dialogue at all events. Event attendees are expected to uphold this by adhering to our code of conduct.

As the ruling party claims victory in Georgia’s disputed election, Western condemnation is no longer enough Expert comment LToremark 29 October 2024

As tens of thousands take to the streets to protest the election results, Georgia faces a familiar crisis – with a few key differences.

As the people of Georgia went to the polls on 26 October, many were hoping not only for a democratic change of government but also for an end to one-party dominance and a return to the path of European integration. The previously weak and divided opposition had grouped itself into four major electoral centres, promising a coalition government and framing these elections as a choice between Europe and Russia. 

Ahead of the election, President Salome Zourabishvili had put forward the Georgian Charter, a blueprint for a stable and democratic transition to a new style of governance and for initiating reforms to fulfil conditions for EU accession. It was signed by all pro-European and pro-Western opposition parties. 

The official election results gave the ruling Georgian Dream party a 54 per cent majority in contrast with exit polls that gave the opposition a 10 per cent lead. President Zourabishvili and the opposition parties refuse to recognize the results, beginning a long process of contestation with allegations of fraud and street protests. As the disappointment sets in and the streets once again replace the ballot box as a conduit for democratic change, there is a sense of déja vu.

Georgia has seen this before. A party sweeps to power on the tide of popular protest, initiates reforms to meet public expectations but, by the end of its second term, it takes an authoritarian turn. As it overstays its welcome, it starts manipulating elections to cling to power. People once again take to the streets and a new party wins by a landslide only to repeat the same cycle. But with each turn, the grip the ruling elites have on power gets stronger and the methods they use become more sophisticated. State security becomes equated with regime stability, leaving no space for normal democratic contestation or expressions of dissent. 

Although what is happening in Georgia fits this familiar pattern, there are some consequential differences. 

First, these were the first fully proportional elections. Previously, a mixed system of representation meant that the incumbency always had an advantage by dominating majoritarian districts. A new electoral system had created a not unreasonable expectation that these elections, if held freely, would result in a coalition government. The hope was this could help break the vicious cycle of Georgian politics, sustained by an extreme form of majoritarianism and a winner-takes-all political culture.

The Georgian Dream party was contesting its fourth consecutive term against a backdrop of falling popularity and growing societal mobilization in opposition to its authoritarian inclinations. Despite all this, it secured – some would insist manufactured – an absolute majority in elections that international observers say were marred by serious irregularities and fell short of democratic standards. 

The second important difference is that these elections were not only about saving Georgia’s democracy but also about rescuing its European perspective. Since Georgia was granted EU candidate status in December 2023, its parliament has adopted Russian-style laws on foreign agents and combating LGBTIQ+ ‘propaganda’. 

It has also adopted a strongly Eurosceptic political discourse, pushing back on international criticism and accusing EU and US officials of interference in domestic affairs and disregard for Georgia’s sovereignty. In response, the EU has suspended accession talks with Georgia indefinitely while the US has imposed targeted sanctions on high-ranking Georgian officials and judges. 

Georgia’s democratic backsliding at home and its pivot away from the West are both simultaneous and interrelated. It was widely hoped these elections would be a course correction and return Georgia to the path of European and Euro-Atlantic integration. The election results, if they stick, will prevent this from happening. A Georgian Dream government will not work to fulfil conditions for EU accession, viewed as a challenge to its hold on power. 

The third and final difference is that these elections took place in the context of heightened geopolitical confrontation. The Georgian Dream ‘victory’ is a win for anti-liberal, conservative forces around the world championed, among others, by Hungary’s Viktor Orbán. He was the first to congratulate Georgian Dream for its declared success and even visited Tbilisi in a show of solidarity and ideological alignment. 

The election result is also a win for Russia. It strengthens Moscow’s influence in the South Caucasus, which has waned as a result of the war in Ukraine and the fall of Nagorny-Karabakh. Russian officials and propagandist were quick to congratulate Georgian Dream, wishing them success in standing up to Western pressures and offering help in case things got tough. 

From Moscow’s perspective, Georgia’s elections are part of a global hybrid war. They represent a local battle in the ongoing geopolitical contest between Russia and the West, between the rules-based global order and competitive multipolarity. 

As Georgia repeats a familiar pattern, what do the election results mean for its future? While clear predictions are difficult at this stage, it is worth bearing in mind that as the democratic resilience of the Georgian society has strengthened over time, so too has the state capacity to supress and control. 

Independent Thinking: Why is North Korea sending troops to Russia? Audio john.pollock 31 October 2024

Orysia Lutsevych, Edward Howell and Yossi Mekelberg discuss North Korean troops fighting with Russian forces against Ukraine, as well as the issue of military conscription.

On this episode

North Korea is sending troops to Russia, but what is Kim Jong-Un hoping to get from Vladmir Putin for this military assistance against Ukraine? The panel also discuss the role military conscription plays in Israel, South Korea and Ukraine’s defence.

Bronwen Maddox is joined by Edward Howell, the Korea Foundation fellow at Chatham House, Orysia Lutsevych, the head of our Ukraine Forum and Yossi Mekelberg, a senior consulting fellow with our Middle East and North Africa Programme.

About Independent Thinking

Independent Thinking is a weekly international affairs podcast hosted by our director Bronwen Maddox, in conversation with leading policymakers, journalists, and Chatham House experts providing insight on the latest international issues.

More ways to listen: Apple Podcasts, Spotify.