Putin Drops Bombshell: Russia Will ‘Cease To Exist' Without Sovereignty
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Time of India
14 minutes ago
- Time of India
India-US trade: Officials react cautiously to Russia penalty threat
NEW DELHI: As President Trump threatened to impose a penalty on India for its trade ties with Russia, Indian officials reacted cautiously as they reiterated India's position that securing energy needs of the Indian people is the overriding priority. A source, speaking on condition of anonymity, said India is buying oil not because it wants to help Moscow but because it's the right thing to do based on the prevailing market conditions and the global geopolitical situation. Trump said India has always bought "a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy along with China". However, India had been keen on announcing new plans for defence procurement and co-production arrangements with the US too. During PM Narendra Modi's visit to the US in Feb, Trump pushed India to lower tariffs and buy more defence products from the US that would facilitate a fair trade deal. With the US encouraging India to reduce its dependence on Russian-origin equipment, the leaders had agreed to expand defence sales and co-production to strengthen interoperability and defence industrial cooperation. In that context, govt sources here said some of Trump's claims don't stand up to scrutiny. "The fact is that India-US defence trade has been increasing since 2008, while the dependence on Russia continues to reduce considerably," said an official on condition of anonymity, adding that the US is now among the top arms suppliers to India along with Russia and France. While much has been made of India's imports from Russia, little attention has been paid to the fact that its crude imports from the US have seen a significant jump too with the US emerging as the 4th largest supplier to India in April this year, according to Indian officials. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Economic Times
31 minutes ago
- Economic Times
Coup in Ukraine? Russia claims US-UK planning to oust Zelensky and replace him with former Ukrainian Army chief
Political context and anti-corruption controversy Resetting Kiev-West relations and aid continuity Live Events Background on Valery Zaluzhny (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Russia's Foreign Intelligence Service ( SVR ) has accused the United States and the United Kingdom of orchestrating a secret plan to remove Ukraine's President Volodymyr Zelensky and install former Commander-in-Chief of the Ukrainian Armed Forces, Valery Zaluzhny , as the new president, reported TASS According to the SVR, a clandestine meeting was held in an Alpine resort involving high-level Ukrainian officials Andrey Yermak (head of Zelensky's presidential office), Kirill Budanov (chief of Ukraine's Defense Ministry intelligence), and Valery Zaluzhny himself, alongside US and UK representatives. During this meeting, the Western allies purportedly decided to support Zaluzhny's candidacy for the SVR alleges that Yermak and Budanov quickly agreed ('snapped a salute') to this decision after securing promises from the US and UK to allow them to retain their current influential positions and have their interests taken into account in future Ukrainian personnel to Russian intelligence as reported by TASS, this secret arrangement sheds light on recent political maneuvers within Ukraine, notably Zelensky's controversial attempts to restrict the powers of local anti-corruption agencies. The SVR claims that these moves were engineered by Yermak to clear the political field for Zaluzhny's subsequent rise and provided a pretext for Western powers to paint Zelensky's administration as authoritarian, thereby justifying plans to remove him from power in the name of defending attempts to curb independent anti-corruption bodies had sparked protests in Ukraine and criticism from Western governments, which contributed to political instability. Following backlash, Zelensky even submitted a bill reversing the curtailment to reinforce the powers of these watchdogs, though with conditions such as security vetting of employees six months SVR asserts that the decision to replace Zelensky with Zaluzhny was framed as a necessary step to 'reset' Ukraine's relations with Western partners, particularly Washington , and to ensure continued military and financial aid amid Ukraine's ongoing conflict with officials question the democratic legitimacy of a top-level political decision made in secret at a foreign resort, asking Ukrainians if this is the democracy, independence, and self-determination they dreamed Zaluzhny served as Ukraine's Commander-in-Chief of the Armed Forces until early 2025 and currently acts as Ukraine's ambassador to the United Kingdom. He is credited with significant military leadership during Ukraine's resistance in the ongoing war. The SVR claims that both Western countries and certain Ukrainian officials see Zaluzhny as a preferable successor to official statements have been issued by the US, UK, or Ukrainian governments to confirm or deny the SVR's allegations.
Time of India
40 minutes ago
- Time of India
Trump dumps 25% tariff on India from Friday, plus penalty for buying Russian oil
NEW DELHI: US President Donald Trump on Wednesday announced a 25% tariff on all goods imported from India, along with an unspecified penalty, from Aug 1 after the two countries failed to reach an interim trade deal, triggering nervousness among exporters. After making several claims over the last four months of having got India to agree to slash tariffs, Trump took to social media to announce the stiff duties and linked the action to India's high trade surplus with the US and purchase of Russian oil and arms. "Also, they (India) have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine - all things not good! India will therefore be paying 25%, plus a penalty for the above, starting Aug 1," Trump posted on Truth Social. The US president had earlier announced a "reciprocal tariff" of 26% on India. He later paused it, but left a 10% baseline tariff on all countries. Trump's proposed penalty has complicated the calculations for Indian businesses. Over the last three months, he has managed to get other trading partners such as the European Union, Japan, Britain and Vietnam to open up their markets for American goods in return for lowering the tariffs, something he could not do with India due to its reluctance to offer concessions on farm and dairy products. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ultra Lux 4BHK homes at 7 Mahalaxmi from 10.81 Cr* 7 Mahalaxmi, Runwal Group Enquire Now Undo Within the govt there was clarity that it would not settle for a sub-par deal that did not provide for adequate tariff cuts in the US for Indian textiles, leather and footwear and lower-end auto parts. Trump announcement seen as bid to mount pressure on India to agree to US demands President Trump managed to get other trading partners such as EU, Japan, Britain and Vietnam to open up their markets for US goods in return for lowering tariffs, something he could not do with India due to its reluctance to offer concessions on farm and dairy products. Within govt there was clarity that it would not settle for a sub-par deal that did not provide for adequate tariff cuts in the US for Indian textiles, leather and footwear and lower-end auto parts. The Trump administration's argument that it did not have the legislative mandate to revert to reducing tariffs to zero, as is the case with most trade agreements, did not find traction with Indian negotiators, who were asked by the leadership to leverage the large and growing market offered by India. During the negotiations, India had indicated its willingness to buy larger quantities of LNG, fertiliser and defence equipment from the US, but the demands kept increasing. Trump's repeated attempt to link the Operation Sindoor ceasefire to his offer for a good trade deal only complicated matters for him. Over the last few weeks, there was also an attempt to prepare industry for possible imposition of tariffs. While talks for the proposed trade deal will continue, the announcement is seen as a move to mount pressure on India to agree to American demands. In the meantime, businesses fear that the uncertainty over the penalty will make buyers reluctant to place orders, some of which may flow to other countries. Countries like Vietnam, which have negotiated lower levies, may hurt India. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
