The diplomatic courting of New Delhi these past two weeks has been intense. India was one of only a handful of countries — and the only democracy — to abstain from a US-sponsored resolution in the United Nations Security Council condemning Russia’s invasion of Ukraine. Now, it is under intense pressure to shift its stance. Prime Minister Narendra Modi has ...

Europe’s governments are arguing over how to tighten their economic sanctions on Russia. The main gap in their punitive system is their continuing payments for Russian gas. Germany, especially, has been reluctant to impose a ban because its economy would struggle to cope with the consequences. Economics suggest a much better approach: Instead of making Russian gas illegal, Europe should ...

  Who would be a central banker in these febrile times, trying to navigate a path between soaring prices and a gloomy growth outlook? While policy makers everywhere face similar challenges, the ECB task is particularly tricky given its deeply negative interest rates. With the money market pricing in a rapid climb in borrowing costs that would threaten to tip ...