India and Russia rekindle ties, US-China competition in DRC heats up, Another middle power trade deal in the making

India rekindles old friendship to fill energy shortage

To fill the massive energy void from the closure of the Strait of Hormuz, Delhi has turned once again to an old friend: Moscow. Soon after the Iran war began, the US temporarily allowed India to buy more Russian crude, after spending the preceding six months urging them to stop. The two Soviet-era pals are now set to go further: the South Asian behemoth is reportedly preparing to buy Russian liquefied natural gas for the first time since the Kremlin began its full-scale invasion of Ukraine in 2022. What’s more, India will reportedly double its imports of Russian crude.

US-China competition in the DRC heats up

China and the Democratic Republic of the Congo expanded their mining ties on Thursday, signing a deal that includes cooperation on geological data sharing and allows an iron ore project to receive priority support from China. The agreement comes as Washington and Beijing vie for influence in the mineral-rich central African country – it is the leading producer of cobalt, which is critical for electric vehicle production. The US signed a strategic partnership with the DRC regarding critical minerals last December, one that is reportedly binding and broader than the China pact. Under the terms, Washington helps Kinshasa with security amid its conflict with the M23 rebel group, in return for mining access. However, Kinshasa apparently doesn’t want to pick sides between the US and China, preferring instead to hedge its bets.

Speaking of the fighting between Congolese forces and the M23 rebels, a UN envoy warned on Thursday that the conflict is escalating and expanding. The envoy said more civilians are under threat, too, amid increased use of heavy weapons and drones.

Canada and Mercosur speed towards trade deal

Canada and the South American trade bloc, Mercosur, are reportedly nearing a free-trade agreement, with plans to sign the deal before the end of the year. The agreement has been in the works for eight years, but talks have stalled since 2021. Yet negotiations have found renewed momentum since US President Donald Trump’s tariffs, particularly on Brazil and Canada, intensified the push for multilateral trade deals. Mercosur, the world’s fifth-largest economy that includes Brazil, Argentina, Paraguay, Uruguay, and Bolivia, inked a similar deal with the European Union in January. These deals are critical for South America, a region that relies on the US for 80% of its trade.