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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
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India's Second Semiconductor PLI Round Pivots from Fabs to Packaging — and That's the Correct Choice

Above: The financial district at first light, viewed from North Sound. The territory administers more than $4 trillion in regulated assets — roughly four percent of the world's hedge fund capital. — for The Journal

Business

India's Second Semiconductor PLI Round Pivots from Fabs to Packaging and That's the Correct Choice

Advanced packaging is the actual constraint in modern semiconductor supply chains, and India can plausibly build a global position there in five years.

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Russian LNG's Sanctions Workaround Through Pakistan Reveals the Persistent Porosity of Energy-Export Controls

Russian LNG's Sanctions Workaround Through Pakistan Reveals the Persistent Porosity of Energy-Export Controls

Re-flagged cargoes routed via Karachi terminals demonstrate the limits of secondary sanctions on physical commodity flows.

Long ReadBusinessQ1 2026

Sanctions on Russian LNG were tightened repeatedly through 2024 and 2025 with mixed enforcement results. The newest workaround pattern uses Pakistan's south-coast import terminals as a re-flagging and origin-laundering point. Cargoes loaded on Arctic-2 facilities arrive in Karachi via intermediate transshipment, re-document under non-Russian flags, and proc