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The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. During the operations, Sebi officials seized various records and documents, including 34 mobile phones, six laptops, four desktops, four tablets, two hard drive disks and one pen drive from the custody of these persons. Individual messages can be fully encrypted. But the user has to turn on that function. It's not automatic, as it is on Signal and WhatsApp. He floated the idea of restricting the use of Telegram in Ukraine and Russia, a suggestion that was met with fierce opposition from users. Shortly after, Durov backed off the idea. Overall, extreme levels of fear in the market seems to have morphed into something more resembling concern. For example, the Cboe Volatility Index fell from its 2022 peak of 36, which it hit Monday, to around 30 on Friday, a sign of easing tensions. Meanwhile, while the price of WTI crude oil slipped from Sunday’s multiyear high $130 of barrel to $109 a pop. Markets have been expecting heavy restrictions on Russian oil, some of which the U.S. has already imposed, and that would reduce the global supply and bring about even more burdensome inflation.
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