India's IOC buys 2 million barrels of US WTI crude for October, sources say
It purchased the cargoes from Mercuria at a premium of $2.80-2.90 a barrel to dated Brent, they added, speaking on condition of anonymity.
India's IOC buys 7 million barrels US, Mideast crude after Russian oil pause
IOC recently snapped up crude from the United States, Canada and the Middle East as U.S. President Donald Trump ramped up pressure on India for purchases of Russian oil ahead of talks with President Vladimir Putin to reach a ceasefire in Ukraine.
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Express Tribune
40 minutes ago
- Express Tribune
Air Canada workers picket airports after flight attendants strike over wages
People hold placards as a strike begins after the union representing Air Canada's 10,000 flight attendants failed to reach an agreement with the airline, at Montreal-Pierre Elliott Trudeau International Airport in Dorval, Quebec, Canada August 16, REUTERS Hundreds of Air Canada employees formed picket lines outside major Canadian airports and business leaders sought government intervention on Saturday, hours after unionized flight attendants walked off the job over a wage contract dispute. The strike, which started just before 1 a.m. EDT (0500 GMT), forced Canada's largest airline to cancel all of its 700 daily flights, affecting more than 100,000 travelers who had to find alternative flights or stay put. The airline said in a statement on Saturday that it has started locking out thousands of flight attendants in response to the strike action. The carrier had offered a 38% increase in total compensation for flight attendants over four years, with a 25% raise in the first year, which the Canadian Union of Public Employees said was insufficient. CUPE, representing more than 10,000 Air Canada flight attendants, confirmed the work stoppage in a social media post. It is the first strike by Air Canada flight attendants since 1985. Wesley Lesosky, president of the Air Canada component of CUPE, said in a press conference in Toronto that, as of Saturday morning, there were no bargaining sessions scheduled between the two sides, which have held on-and-off negotiations for months. Read More: Canada sheds 40,800 jobs as tariffs dent hiring "We are here because Air Canada forces us to work for free for hours and hours every day, and we are here because we are not going to accept it anymore," he said. Outside Toronto Pearson International Airport - the country's busiest - hundreds of cabin crew waved flags, banners and picket signs. Union officials called on members to assemble outside all of the country's major airports, including in Toronto, Montreal, Calgary and Vancouver. Montreal-based Air Canada said the suspended flights included those operated by its budget arm, Air Canada Rouge. The stoppage would affect about 130,000 customers a day, the carrier said in a statement. Flights by Air Canada's regional affiliates - Air Canada Jazz and PAL Airlines - will operate as usual. Wage dispute The dispute between the union and the airline centers on wages. Attendants are currently paid only when their plane is moving. The union is seeking compensation for time spent on the ground between flights and when helping passengers board. A US judge kept his block on President Donald Trump's buyout plan for federal employees in place on Monday. The union has said Air Canada offered to compensate flight attendants for some work that is now unpaid but only at 50% of their hourly rate. A source close to the negotiations told Reuters the union is looking for parity on wages with Canadian leisure carrier Air Transat, where flight attendants approved a contract last year that provided for total compounded increases of 30% over five years, making them the highest paid in the industry in Canada. Air Canada did not confirm if such a proposal had been put forth by the union. "What we're asking for is not unreasonable. It is not a high demand. It is not that far off other competitors such as Air Transat. It is realistic and it is deserved," Lesosky from CUPE said. The impact of a strike will ripple far beyond Canada. Air Canada is the busiest foreign carrier servicing the U.S. by number of scheduled flights.
Express Tribune
4 hours ago
- Express Tribune
Moscow hails Alaska summit as victory for Russia's Ukraine narrative
In the early hours of Saturday morning following a summit in Alaska between the leaders of Russia and the United States, senior politicians in Moscow were quick to trumpet the meeting as a win for Russia and its narrative of the war in Ukraine. "The meeting in Alaska confirmed Russia's desire for peace, long-term and fair," said Andrei Klishas, a senior lawmaker from President Vladimir Putin's United Russia party. He portrayed the summit as a coup for Russia and a loss for Ukraine and its European allies, who have been pushing for an unconditional ceasefire. "The tasks of the SMO will be accomplished either by military or diplomatic means," Klishas wrote, using the acronym for Special Military Operation, the Kremlin's term for the war. "A new architecture for European and international security is on the agenda, and everyone must accept it." The highly-anticipated summit on Friday in Anchorage yielded no agreement to resolve or pause the conflict, now in its fourth year, although both Putin and US President Donald Trump described the talks as productive. Read More: Russia readying nuclear-powered cruise missile test The two men met for nearly three hours before giving a brief media appearance and boarding separate planes home. Dmitry Medvedev, a former Russian president known for his hawkish views, said the summit proved that it was possible to hold talks without conditions - as Moscow has insisted - while the fighting in Ukraine rages on. Russia's flagship Channel One morning state news bulletin on Saturday stressed the pageantry around the summit, its global profile, and the warm welcome extended to Putin, who had been ostracized by Western leaders since Russia's full-scale invasion of Ukraine in 2022. "The Red carpet, handshakes and footage and photographs that are in all global publications and TV channels," it said, saying it was the first time that Trump had met a visiting leader off their plane at the airport. Its correspondent in Alaska said the two leaders had obviously agreed about a lot of things, but did not say what those things were. "The very fact of the meeting in Alaska, its tone, and its outcome represent a significant and joint success for both presidents, each of whom made a tremendous personal contribution to achieving the best possible result at this time," Konstantin Kosachyov, a chair of the foreign affairs committee of Russia's upper house of parliament, wrote on Telegram. Also Read: At least 11 dead, over 100 injured in factory blast in Russia Other commentators struck a sourer tone. Writing for War Gonzo, a pro-war Telegram channel with over 800,000 subscribers, one blogger praised Putin's remarks as "quite strong", but added that the meeting had delivered no visible outcomes beyond the mere fact that it took place. "What will happen next? If our strikes on Ukrainian regime targets resume, Trump will have a reason to declare once again that 'Putin is talking nonsense' and to impose sanctions and interrupt the negotiation process that has begun," wrote the blogger, Old Miner.
Business Recorder
5 hours ago
- Business Recorder
US proposed NATO-style joint defence guarantees for Kyiv: source
KYIV: The US has proposed security guarantees for Ukraine similar to – but separate from – those enjoyed by NATO member countries, a diplomatic source told AFP on Saturday. The suggestion was raised during a call US President Donald Trump held with Ukrainian President Volodymyr Zelensky and European leaders earlier on Saturday, the source said. 'As one of the security guarantees for Ukraine, the American side proposed a non-NATO Article 5 type guarantee, supposedly agreed with (Russian leader Vladimir) Putin,' the diplomatic source said on condition they not be identified in any way. NATO's collective security is based on its Article 5 principle: if one member is attacked, the entire alliance comes to its defence. Trump says Ukraine needs to make a deal after summit with Putin ends without ceasefire Trump, Zelensky and European leaders – who included NATO Secretary General Mark Rutte – spoke early Saturday to discuss Trump's summit with Russian President Vladimir Putin held on Friday in Alaska. Before that joint call, Trump also had a call with Zelensky as flew back from Alaska. 'The American side voiced this (joint security proposal) during a conversation with the president (Zelensky) and then repeated it during a joint conversation with the Europeans,' the diplomatic source said. Another source with knowledge of the matter confirmed the NATO-like guarantees had been discussed. But that source added: 'No-one knows how this could work and why Putin would agree to it if he is categorically against NATO and obviously against really effective guarantees of Ukraine's sovereignty.' Kyiv has long aspired to join NATO – but Russia has given that as one of its reasons for its war in Ukraine, and some Western circles have expressed resistance to the idea. Trump has repeatedly ruled out Ukraine joining the Western military alliance. Zelensky is due in Washington on Monday for talks with Trump. The second source told AFP that Zelensky is to discuss what form a possible Trump-Putin-Zelensky summit would have, the role of Kyiv's European allies in peace talks, territories, and security guarantees.
