06/09/2019 - International Relations | Mainstorming

IAS Parliament 5 years

KEY POINTS

· The forum aims at bringing investment and development to what is known as the Russian Far East, a region extending between Lake Baikal - world's largest freshwater lake and deepest lake, and the Pacific Ocean.

· Realising its geostrategic significance, India opened a consulate in Vladivostok in 1992. India was the first country to have a resident consulate in Vladivostok then.

· This Vladivostok-Chennai sea link is somewhat a counter to China's Maritime Silk Route (MSR) plan as part of One Belt One Road project. China's ambitious MSR plan is about establishing and hence directly controlling Asia-Africa sea route.

· Vladivostok-Chennai shipping link is likely to pass through or very close to the South China Sea, which China has turned into an international geostrategic hotspot by claiming exclusive control over the resource rich maritime zone in the Pacific Ocean. Vietnam, the Philippines, Malaysia, Brunei and Taiwan have counter claims over the sea.

· There is an alternate possibility as well that Vladivostok-Chennai link would become an extension of existing India-Japan Pacific to Indian Ocean Corridor, which China considers as a challenge to its maritime OBOR plan in the region.

· The announcement of $1 billion line of credit is not really an investment by India but it still offers it to have a foothold in the Russian Far East.

· Seen from geostrategic lens, this gives India another vantage point to counter Chinese game of encircling India through what is called the String of Pearls policy.

· Russian Far East is a resource rich region in a hostile climate. It is rich in oil, natural gas, timber, gold and diamond among other resources. India requires all of them.

· A busy Vladivostok-Chennai link means India strengthening its checks and balances equation with China.

· Current engagement of India with this region is limited to select pockets such as Irkutsk where the MiG and Sukhoi fighter planes are built and in Sakhalin where ONGC Videsh has invested over $ 6 billion in oil and gas and exploration.