News in Short

• The United States targeted Russian banks and elites with a new round of sanctions, including banning Americans from investing in Russia.
• The new sanctions hit Russia’s Sberbank (SBER.MM), which holds one-third of Russia’s total banking assets, and Alfabank, the country’s fourth largest financial institution.
• The United States is also sanctioning Russian President Vladimir Putin’s two adult daughters, Russian Foreign Minister Sergei Lavrov’s wife and daughter, and senior members of Russia’s security council.

• Suspected state-sponsored Chinese hackers have targeted the power sector in India in recent months as part of an apparent cyber-espionage campaign.
• The hackers focused on load dispatchcenters in northern India that are responsible for carrying out real-time operations for grid control and electricity dispersal, near the India-China border in Ladakh.
• The hacking group, dubbed TAG-38, has used a kind of malicious software called ShadowPad, which was previously associated with China’s People’s Liberation Army.

• The UN General Assembly (UNGA) will vote on a move by the US to suspend Russia from the Human Rights Council of the world body for its aggression and invasion of Ukraine.
• As many as 140 UN member states have already voted to condemn Russia over the humanitarian crisis in Ukraine.
• It is important to note that the UNGA would need to vote in favor by two-thirds to remove Russia from the Human Rights Council.

• A former police officer is likely to become the next leader of the financial hub of Hong Kong, underlining emphasis on security in the Special Administrative Region.
• Current leader Carrie Lam would not seek a second term, following a tumultuous five years at the helm marked by pro-democracy protests in 2019.
• Mr. Lee has served as Chief Secretary under Ms. Lam since June 2021. He rose through the ranks and held top positions in the police force, rising to Secretary of Security in 2017.

• Sri Lanka has appointed a three-member advisory group to assist government officials engaging with the International Monetary Fund (IMF).
• The members of the advisory group have already held discussion with the President on maintaining regular communication with the IMF and are entrusted with holding discussions with Sri Lankan officials.
• Sri Lankans are holding protests against the current regime demanding ouster of Gotabaya amid the economic crisis in the island nation.