&w=3840&q=100)
‘No reason in waiting': Trump warns Russia with new deadline of 10 to 12 days over Ukraine
On Monday, US President Donald Trump set a fresh ultimatum of 10 or 12 days for Russia to make progress towards resolving the war in Ukraine or suffer repercussions, highlighting his dissatisfaction with Russian President Vladimir Putin over the 3-1/2-year conflict.
Trump has warned sanctions against both Russia and its export buyers unless progress is made. The new deadline shows that the US president is willing to carry forward with such threats despite past reservations.
STORY CONTINUES BELOW THIS AD
Speaking in Scotland, where he is meeting with European leaders and playing golf, Trump expressed disappointment with Putin and shortened a 50-day deadline he set earlier this month.
'I'm going to make a new deadline of about … 10 or 12 days from today,' Trump told reporters during a meeting with British Prime Minister Keir Starmer. 'There's no reason in waiting… We just don't see any progress being made.'
There was no immediate comment from the Kremlin.
Ukraine welcomed the statement. Andriy Yermak, President Volodymyr Zelenskyy's chief of staff, thanked Trump in a social media post for 'standing firm and delivering a clear message of peace through strength.'
Trump, who has expressed annoyance also with Zelenskyy, has not always followed tough talk about Putin with action, citing what he deems a good relationship that the two men have had previously.
On Monday, Trump indicated he was not interested in more talks with Putin. He said sanctions and tariffs would be used as penalties for Moscow if it did not meet Trump's demands.
'There's no reason to wait. If you know what the answer is going to be, why wait? And it would be sanctions and maybe tariffs, secondary tariffs,' Trump said. 'I don't want to do that to Russia. I love the Russian people.'
STORY CONTINUES BELOW THIS AD
Ukraine had proposed a summit between Putin and Zelenskyy before the end of August, but the Kremlin has said that timeline was unlikely and that a meeting could only happen as a final step to clinch peace.
Russia's foreign ministry said on Saturday that if the West wanted real peace with Ukraine, it would stop supplying Kyiv with weapons.
Trump has repeatedly voiced exasperation with Putin for pursuing attacks on Ukraine despite US efforts to end the war. Trump has played up successes in other parts of the world where the United States has helped to broker peace agreements and has been flattered by some leaders who suggest he should be given the Nobel Peace Prize.
'I'm disappointed in President Putin,' Trump said on Monday. 'I'm going to reduce that 50 days that I gave him to a lesser number because I think I already know the answer what's going to happen.'
Trump, who is also struggling to achieve a peace deal in Gaza, has touted his role in ending conflicts between India and Pakistan as well as Rwanda and Congo. Before returning to the White House in January, Trump campaigned on a promise to end Russia's conflict with Ukraine in a day.
STORY CONTINUES BELOW THIS AD
'We thought we had that settled numerous times, and then President Putin goes out and starts launching rockets into some city like Kyiv and kills a lot of people in a nursing home or whatever,' Trump said. 'And I say that's not the way to do it.'

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Economic Times
13 minutes ago
- Economic Times
Nifty at crucial juncture: What's weighing on the markets?
Markets remain range-bound amid weak earnings, global trade tensions, and lack of sectoral leadership. In this exclusive conversation, Kranthi Bathini breaks down the current market mood, the impact of the India–UK FTA, and why the 25,000 mark on the Nifty is the key level to watch. Excerpts: ADVERTISEMENT Market View Q. Let's start with the markets. Last week was mixed, there was some rally, but overall sentiment remained cautious. What happened? Kranthi Bathini: Markets are still in a consolidation phase. Every time the Nifty moves above the 25,000 mark, it struggles to sustain the momentum beyond 25,750–25,800. There's no strong earnings support or buying interest at those levels. On the downside, 25,000 is acting as a strong support level, both technically and sentimentally. Today, we dipped below it, which typically invites fresh short positions and selling pressure. The lack of earnings triggers, global trade uncertainties, and new EU regulations on Russian oil imports into India have all contributed to the weakness. Also, heavyweight stocks like Reliance Industries are under pressure, it's corrected nearly 10% from its peak, which is dragging the broader market. What's also missing is sectoral leadership rotation. In past rallies, different sectors took turns to lead. That's not happening now. Fortunately, domestic institutional investors (DIIs) have stood strong, if not for them, markets could've dropped the current weakness, history shows that periods of pessimism often offer good accumulation opportunities for long-term investors and delivery-based traders.Q. PM Modi and UK PM Keir Starmer just signed a landmark India–UK Free Trade Agreement. What are the implications? ADVERTISEMENT Kranthi: It's a positive step. FTAs open new markets and show India's maturity to compete globally. Key beneficiaries from this deal are: Textiles Leather manufacturers Gems and jewellery Aquaculture and seafood exports Pharmaceuticals and chemicals We saw selective buying in these segments already, aquaculture and textile stocks moved up. ADVERTISEMENT For instance, Wockhardt, which has a UK plant, surged from ₹300 to ₹1,700, a clear example of how companies with UK exposure can gain from this FTA.Q. With the US threatening 200% tariffs on Indian pharma products, can the UK be a balancing export partner? ADVERTISEMENT Kranthi: The US remains the largest revenue contributor for Indian pharma, about 70–80% of earnings for many firms come from North US tariff hike would significantly impact Indian pharma. However, it's unlikely that the US will act hastily because these are essential, life-saving drugs, and imposing tariffs could backfire on US healthcare said, the UK can't replace the US in terms of volume and scale, but it could open alternative opportunities, especially for companies with a footprint in the UK or EU. ADVERTISEMENT Q. What's the global sentiment looking like, given all the trade-related noise? Kranthi: Right now, uncertainty is rising. While geopolitical tensions have eased slightly, trade worries are intensifying. The US–China trade situation is critical for global markets, it influences global growth and supply chains. Long-only global funds are cautious and staying sidelined due to the unpredictability around tariffs and trade deals. India can gain some share of global manufacturing, but for now, volatility will continue.Q. What's your assessment of the current Q1 earnings season? Kranthi: It's been muted so far. Infosys surprised positively, but TCS disappointed heavily. Reliance Industries didn't live up to expectations due to pressure from refining margins, impacted by EU's Russia policy. Banks have been mixed — Axis Bank disappointed, while ICICI Bank and HDFC Bank delivered solid numbers. Interestingly, mid- and small-caps are showing pockets of strength. But overall, we need more heavy lifting in earnings to drive market momentum.Q. What are the key levels to watch this week? And what's your outlook? Kranthi: The 25,000 mark on the Nifty is absolutely crucial. If Nifty stays above 25,000, we may see a positive breakout toward 25,250. If it falls below 24,800, that could trigger fresh shorting and more downside. So, the expected range for next week is 24,800 to 25,250. If Nifty can hold 25,000, we may see some consolidation or mild upside. Otherwise, selling pressure could persist in the short term. Disclaimer: Recommendations, suggestions, views and opinions given by the experts/brokerages do not represent the views of Economic Times. (You can now subscribe to our ETMarkets WhatsApp channel)

Time of India
13 minutes ago
- Time of India
Starmer Branded Cringe For 'Awkward' Long-Distance Video Call With Lionesses
UK PM Sir Keir Starmer mocked for his 'awkward' video call with the Lionesses. The UEFA Euro 2025 champions were hosted at 10 Downing Street, the residence of British PM, on Monday. However, missing from action was the Prime Minister himself during the celebratory reception. Busy with U.S. President Donald Trump, Starmer joined celebration virtually from Scotland. He congratulated the newly crowned football team and posted a video of the moment as well. But his virtual meet-up was met with mockery as netizens branded it cringe and 'more like AI'. Watch- Read More


Mint
13 minutes ago
- Mint
Tata Steel Q1 preview: All eyes on UK business turnaround, cost cuts, and margin expansions
MUMBAI : Tata Sons' chairman N. Chandrasekaran was all praises for Tata Motors Ltd in his letter to shareholders included in the 2024-25 annual report of Tata Sons, the privately held parent company of the Tata group, released last week. Deservedly so. Chandrasekaran shared the performance record of both listed and privately held group companies for the last five fiscal years, which showed the carmaker recorded a 69% revenue increase between 2019-20 and 2024-25. The top commercial vehicle maker's 955% stock-market return ranks among the best within the group. Tata Power Co. Ltd was the top-performing entity, with its shares delivering a return of 1,250%. That makes Tata Steel's impressive 529% return look a shade paler. But the performance of the country's second-largest steelmaker (behind JSW Steel Ltd) is no less commendable. This is especially true as the steel giant nears turning its loss-making European operations profitable, a vision shared by Chandrasekaran at the company's shareholder meeting in June. Higher steel prices surely helped the company. But credit also goes to the company's senior management, led by chief executive T.V. Narendran, who took over the top post eight months after Chandrasekaran assumed the role of Tata Sons chairman in February 2017. Still, Tata Steel's performance over the next 18 months will determine whether it can turn its UK operations profitable by September 2026. The US President Donald Trump-led tariff war and consequent global uncertainty could lead to a correction in steel prices, nullifying the management's efforts. For this reason, all eyes will be on the company's June-quarter results to be announced on 30 July. In the first three months of 2025-26, steel prices rose quarter-on-quarter but were slightly lower year-on-year. Hot-rolled coil (HRC), used in automobile parts and consumer durables, was sold for approximately ₹52,000 per tonne, and rebar, used in infrastructure and housing, for around ₹56,600, according to Antique Stock Broking analysts. Prices had recovered from January lows but dropped about 3% recently due to seasonal factors, as early rains led to slower construction. Rebar is selling at a higher price than HRC, which is good for companies such as Jindal Steel and Power Ltd that make more long steel. HRC prices are also higher than Chinese imports, even after including the 12% import tax, pressuring domestic steelmakers, said the brokerage's 5 June report. Mint lists five major areas to focus on in the company's first-quarter results: Revenue and profitability: Analysts at Systematix Institutional Equities expect Tata Steel's revenues to decline 7% on-year to ₹50,700 crore on weak demand and profits to rise by 72% to ₹1,580 crore due to an increase in steel prices. However, the companies in the sector are likely to report a 20% on-year Ebitda growth led by better cost efficiency, operating leverage, and better steel prices, said the 11 July report. Ebitda is short for earnings before interest, taxes, depreciation, and amortization. Demand and prices: Given the rise in steel prices, coupled with lower input costs, domestic steel producers such as Tata Steel are likely to report an improved Ebitda/tonne in Q1FY26 compared to Q4FY25. Domestic steel prices rebounded during the quarter due to the government's 12% safeguard duty. Analysts at Systematix Institutional Equities believe India will continue to be the growth engine for the ferrous sector. They also expect the safeguard duty to be extended beyond its 200-day period to continue protecting local producers. European operations profitability: The key focus for investors would be Tata Steel's overseas operations, where improved steel prices in Europe are likely to help narrow losses in the UK. Ebitda per tonne is expected to rise to $103, indicating early signs of a turnaround. Cost reduction and margin expansion: The steelmaker achieved ₹6,600 crore in cost savings in 2024-25. The management commentary in the March quarter suggested higher margins across geographies, supported by the 12% safeguard duties and a drop in coking coal prices for the next fiscal year, with a further cost reduction target of ₹11,500 crore in India and Europe. At least one of the brokerage firms said the cost-saving targets are ambitious, and they would factor in only partial cost benefits. Commentary on margin expansion due to safeguard duties and cost cuts would be a key factor to watch. Outlook: Analysts do not expect the India-UK free trade agreement to have any significant impact as the UK's business primarily sources its raw materials from the Netherlands. Tata Steel's outlook for 2025-26 hinges on aggressive cost takeouts and margin recovery. However, the steelmaker is expected to see a squeeze in margins in the next quarter, more than their peers, as prices of both steel and iron ore are on a downward trend. This is because of the fixed costs associated with their mines, which help them earn better margins when things are going well but become a burden during a slowdown.