Donald Trump imposed ‘sanctions on India' to end war in Ukraine, says White House
This reiteration comes as a top US official said that India made "huge" profits on the sale of Russian oil during and after the war in Ukraine, and Trump said that his sanctions on New Delhi probably played a role in Russian President Vladimir Putin meeting him.
Addressing a press briefing, Leavitt said, "The President has put tremendous public pressure to bring this war to a close. He has taken actions as you seen sanctions on India and other actions as well. He has made himself very clear that he wants to see this war and he has rejected the ideas of others that have been raised that we should wait another month before any meetings takes place."
She asserted that Donald Trump wants to move forward and bring the war in Ukraine to an end as quickly as possible.
Earlier on Tuesday, Trump met Ukrainian President Volodymyr Zelensky at the White House, with the former signalling his openness to a trilateral meeting with Putin to negotiate an end to the war in Ukraine.
Trump said that he had a very successful day, while Zelensky noted that this was the "best conversation" he had with the US President so far.
Scott Bessent on India tariffs
US treasury secretary Scott Bessent, while speaking to CNBC, argued why China has not yet seen any penalties for buying Russian oil, while the case for India has been otherwise.
He said that the treatment is different because India has been "profiteering" and "making billions" from its reselling of the oil.
Bessent said India had "less than 1 per cent" of its oil from Russia "and now its up to 42 per cent". He added, "India is just profiteering, they are reselling... They made 16 billion in excess profits, some of the richest families in India."
"This is a completely different thing. Indian arbitrage, which is buying cheap oil and reselling it, has just sprung up during the [Ukraine] war. This is just unacceptable," Bessent added.
Top US advisor criticises India over Russian oil trade
Meanwhile, White House trade advisor Peter Navarro criticised India for purchasing Russian energy and defence equipment, pledging to "hit India where it hurts" to get New Delhi to change its policy.
He termed India's oil trade with Russia 'opportunistic' and 'corrosive' to global efforts being made to end the war in Ukraine and isolate the Russian economy.
'As Russia continues to hammer Ukraine, helped by India's financial support, American (and European) taxpayers are then forced to spend tens of billions more to help Ukraine's defence. Meanwhile, India keeps slamming the door on American exports through high tariffs and trade barriers. More than 300,000 soldiers and civilians have been killed, while Nato's eastern flank grows more exposed and the west foots the bill for India's oil laundering,' Navarro wrote in an opinion piece for the Financial Times.
Before his meeting with Putin in Alaska last week, Trump had told a Fox News Radio show that his 'penalty' on India prompted the Russian President to meet him, saying that "everything has an impact".
The US President said that when he told India about the doubled tariffs, it "essentially took them out of buying oil from Russia". He noted that India is the second largest purchaser of Russian oil and said it was getting pretty close to China, the largest buyer of oil from Russia.
Before Trump doubled India's tariff to 50 per cent by imposing an additional 25 per cent levy on the previously announced 25 per cent, he said that India was "fueling the war machine" by buying oil from Russia.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
17 minutes ago
- Time of India
Fixed, floating or hybrid: Which home loan interest rate regime works best
Academy Empower your mind, elevate your skills The interest rate remains fixed for the first three years, helping borrowers plan their outflows better. After this period, the loan automatically moves to a floating regime, linked to the company's internal reference rate. Interest rate starting at only 7.40%* p.a. Borrowers can also opt for a premature switch to a floating rate in the first 3 years as well – by paying nominal conversion charges. Borrowers can even prepay during the fixed period without penalty (if using their own funds). Those who prioritise stability above all else may prefer fixed for a limited duration. Those willing to ride market cycles might lean towards floating. And those who want assurance in the short term and opportunity in the long term could find a hybrid loan especially useful, particularly in today's low-rate environment. Buying a home is a key milestone for most Indian families, and a home loan often plays a central role in turning that aspiration into reality. While most borrowers focus on eligibility, loan amount, or EMI affordability, an equally important decision often gets less attention: what kind of interest rate regime to home loans in India are offered either on a fixed or floating rate. Each comes with advantages and tradeoffs. But in recent years, a third structure, hybrid loans, has emerged, aiming to give borrowers the best of both home loans offer a predetermined interest rate for a set period, typically a few years, before they reset. The biggest advantage here is stability. Borrowers know exactly what their EMIs will be during that phase, which makes budgeting fixed rates are often slightly higher than floating rates at the time of borrowing. And once the reset date arrives, the interest may be revised in line with prevailing market rates. In effect, fixed-rate loans provide peace of mind in the short term but may not remain immune to market shifts over the full home loans are linked to benchmarks such as the repo rate. This means the interest payable can go up or down depending on market borrowers, the attraction is obvious; if interest rates fall, EMIs reduce or the tenure shortens. Over a long repayment horizon, this can translate into significant savings. On the other hand, if rates rise, monthly payments increase. Floating loans, therefore, require borrowers to be comfortable with some level of the two extremes lies a relatively new option: the hybrid interest rate loan. This structure keeps the interest rate fixed for an initial period and then transitions to a floating logic is straightforward. The early years of a home loan are when repayment discipline matters most. A fixed rate in that phase provides stability and predictability. Later, once borrowers are more financially settled, the loan shifts to floating, allowing them to benefit from any downward movement in market fixed or floating loans, hybrid loans are not widely available. They are a more recent innovation, designed specifically for borrowers who want a balance between certainty and interest rate environment makes hybrid loans especially compelling. Home loan rates are at a low in recent years, with the starting range at around 7.40%-8.35% per annum for eligible salaried borrowers. For those availing a hybrid loan now, this means the opportunity to lock in that highly competitive practical terms, borrowers can secure predictable EMIs at a time when rates are attractive, while still retaining the option to benefit from any future softening once the loan shifts to floating. In volatile economic conditions, that combination of early certainty and later flexibility can be a significant example of a hybrid loan available is the Bajaj Housing Finance Limited Dual Interest Rate Home Loan. Here are some things to consider about this offering:This structure illustrates how hybrid loans can address the needs of borrowers who don't want to choose between predictability and flexibility, especially at a time when borrowing costs are on the lower benefits of the Dual Interest Rate Home Loan include:There isn't a single 'right' answer. It depends on individual India's mortgage market evolves, borrowers are beginning to see that the choice is not just fixed or floating. Hybrid models are redefining how home loans can be structured, offering a balanced approach for those seeking both certainty and interest rates hovering at a relatively low point, the timing is especially favourable. For borrowers stepping into homeownership now, the ability to freeze today's competitive rates for the next few years, and then benefit from potential future reductions, makes hybrid loans a smart alternative worth considering.
Hindustan Times
17 minutes ago
- Hindustan Times
CGC Jhanjeri is Now CGC University, Mohali for the Next Generation
Mohali, India, 20th August, 2025: In a landmark moment for the region's academic ecosystem, Chandigarh Group of Colleges, Jhanjeri officially announced its transition to CGC University, Mohali at a high-impact press conference at JW Marriot, Chandigarh. The event marked a pivotal step in the institution's 25+ year legacy. From a college to a tech-driven, autonomous university, the leaders of the institute are committed to shaping the next generation. CGC Jhanjeri is Now CGC University, Mohali This transition represents a bold strategic shift toward industry-integrated learning. CGC University, Mohali aims to be India's new capital for AI-led developments, tech-first learning, and innovation. With over 90% of graduates considered unemployable in emerging sectors, the institute's curriculum is built on live industry exposure and certifications co-developed with corporates. Their education ecosystem is designed in a 50:50 learning model where faculty and industry experts share equal responsibility in shaping student outcomes. The goal is to prepare the next generation not just for jobs, but for leadership in a rapidly evolving digital economy. The press conference witnessed a powerful convergence of voices from academia and industry. The event was graced by distinguished academic visionaries, including Singh Dhaliwal, Founder Chancellor, CGC University Mohali; Mr. Arsh Dhaliwal, Managing Director; and Dr. Sushil Prashar, Executive Director, DCPD. Joining them were eminent figures from the corporate and technology sectors such as Mr. Gagan Agrawal, Leader – Academic Partnerships, Career Education at IBM India; Mr. Amit Choudhary, Technical Director at KPMG India; Mr. Anand Akhouri, Director at EY India; Mr. Ashutosh Kumar, Vice President – University Relations & Skilling Initiatives at Cognitel; Mr. Harsh Chhabra, Head of Learning and Development and channel partner for Microsoft, Autodesk, and Meta; and Mr. Ahmed Khalid, Senior Vice President at Imarticus Learning. At the forefront of this transformation is Singh Dhaliwal, Founder Chancellor of the institution – a committed philanthropist and strong advocate of equal opportunity. 'This university is my commitment to society,' he stated. 'I have always believed that quality education should not be a privilege reserved for a select few. It must be the right of every individual. CGC University, Mohali stands on this very promise: to ensure that every student, no matter their background, has the opportunity to learn, grow, and pursue a life of dignity and purpose.' His vision continues to shape the institution's legacy. Mr. Arsh Dhaliwal, Managing Director of CGC University, Mohali, is also leading this bold academic transformation. Inspired by his experience with the American education system, he recognized seamless industry-academia integration as the foundation of globally successful institutions. He conceptualized CGC University, Mohali as India's first 'Industry-Integrated Learning Capital', an institution designed to bridge the gap between learning and earning. He also remarked, 'We are curating a futuristic, tech-enabled curriculum that speaks the language of innovation, industry, and employability.' The beginning of a new chapter: CGC University Highlighting his global outlook, Mr. Dhaliwal also underscored the value of financial independence during education. To integrate this culture into the Indian education system as well, he said, 'It is our mission to provide our students with commendable internships while they are still studying with a minimum stipend of around Rs. 75,000 to 1,00,000' promising a bright future for all its students. Dr. Sushil Prashar, Executive Director of DCPD at CGC University, Mohali, unveiled the innovative 50:50 learning model. Under this model, half of all teaching will be delivered by CEOs, entrepreneurs, and seasoned professionals, while the remaining half will be handled by faculty, ensuring students gain hands-on, career-ready skills. 'We are bringing the industry to campus,' he said. 'Our students will be learning not just from textbooks but from boardrooms, real-life case studies, and live projects. This is how we shape problem-solvers, thinkers, and doers of tomorrow.' CGC University, Mohali is also committed to skilling a generation that builds, not waits. The institute is bridging the rural–urban skill gap through digital and vocational programs in regional languages. It aims to support freelancers and gig-economy professionals from tier 2 and 3 towns. Students will also lead social impact pro bono campaigns and incubate startups with industry mentors. Additionally, the university extends its expertise to India's ₹6.8 lakh crore MSME sector through cost-effective digital and marketing support via student teams. Its curriculum aligns with NEP 2020 goals while supporting the Government of India's flagship schemes such as Skill India, Startup India, and Digital India. By serving as a talent pipeline for global firms, the university strengthens India's position as a rising knowledge economy. As CGC University, Mohali steps into this transformative new chapter, it reaffirms its commitment to nurturing a generation that is future-ready, tech-enabled, and globally competitive. With a legacy of over 25 years and a bold vision for what's next, the university invites students, industry leaders, and academic collaborators to join its mission of shaping the next generation of leaders, innovators, and educators. To explore programs, partnerships, or the university's new vision, visit: Note to the Reader: This article is part of Hindustan Times' promotional consumer connect initiative and is independently created by the brand. Hindustan Times assumes no editorial responsibility for the content.
India.com
17 minutes ago
- India.com
'India is a global power, Trump's sanctions will only....': Russia praises India amid pressure from US for purchasing Russian oil
Russia-India relations India-Russia relations: In a significant development amid the recent tensions between India and US on the issue of Indian exports to US and import of Russian crude oil, Charge d'Affaires of the Russian Embassy in India Roman Babushkin has said that India is a global power with a diversified foreign policy. Adding that India is a leading economic country, Babushkin said that Russia remains committed to resolve any problems even during challenges. Here are all the details you need to know about what the Charge d'Affaires of the Russian Embassy has said on India-Russia relations and the recent geopolitical tensions. What Russian Embassy said on Putin-Trump Alaska meet and its impact on India? 'There are so many rumours and speculations about this summit in Alaska, which took place on the 15th of August. In fact, it was a breakthrough development, because you would see the leaders of the leading global powers sitting together and having a very warm, deep and very prolonged conversation. The agenda was a diversified one. We are absolutely not about to link it to just one particular question. We talk about the restoration of relations between Russia and the US. And for that, rebuilding trust is one of the most significant tasks', Roman Babushkin was quoted as saying on the Alaska as per a report carried by news agency ANI. Roman Babushkin also said that Russia-India have been facing this problem of sanctions for many years, but their trade is only growing. Story Highlights Russian Embassy has indicated that Russia-India trade is growing despite all concerns. It has also indicated that Russia remains committed to resolve any problems even during challenges. On Russia-US relations, Charge d'Affaires of the Russian Embassy in India said that rebuilding trust is one of the most significant tasks. What Russia thinks on US imposing more tariffs on India? 'And as far as we heard here in the mission after this meeting, which was, according to assessments by President Trump, very successful and very positive, I think I heard that he decided not to impose an extra 25 per cent on India, according to media reports. I didn't see other reports,' he stated on the Trump tariffs on India.
