EU countries have imposed restrictive measures on agricultural trade given domestic and regional triggers such as the farmers’ protests and the Russia–Ukraine war.
With India and Bangladesh agreeing to settle the payments for their international trade partly in Indian rupee, it can reduce pressure on Bangladeshi dollar reserves.
Export controls or strategic trade technology control has been used as a significant tool to impose sanctions on Russia, for its military operations in Crimea and Ukraine.
India and Australia need to take a leadership role in maritime security affairs in the two oceans and have deeper engagements with the Pacific and Indian Ocean island countries.
Historically, navies have been employed for the conduct of trade warfare. However, naval discourse on the subject has ranged from advocacy as prime employment of naval power to relegation as a secondary role that is best avoided. World Wars I and II witnessed wide-ranging application of trade warfare with varying degrees of success. Global seaborne trade has transformed significantly since the great wars, with large merchant fleets servicing an interconnected and globalised trading system.
