Russia says Putin and US envoy Witkoff hold 'useful' talks as Trump's sanctions deadline nears
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Indian Express
5 minutes ago
- Indian Express
US team scraps visit, trade talks with India stuck on agri hurdle
The India-US negotiations for a trade deal, which began in February after Prime Minister Narendra Modi visited the United States, have come to a halt, and the US negotiators' scheduled visit to India later this month stands cancelled, a source aware of the development told The Indian Express. The breakdown in trade talks assumes significance as US President Donald Trump has announced 50 per cent tariff on Indian products, the highest on any country globally. While 25 per cent tariff has already come into effect, government officials have said the levy of another 25 per cent – for Russia oil trade — could depend on 'how geopolitical events unfold'. The Indian Express had first reported on August 8 that the negotiations for a trade agreement had hit a pause, and the arrival of the US trade team was uncertain, as no formal communication had been received from their side. The deal has been stuck over India's long-standing stance of protecting farmers in every trade agreement. The US, under Trump, is prioritising market access for its agricultural products. In his Independence Day speech on Friday, Prime Minister Narendra Modi reiterated that India would not compromise on the well-being of its farmers, fisherfolk and cattle keepers, amid the standoff with the US over access for American products in India's agriculture and dairy market. On August 7, too, after Trump announced the additional 25 per cent tariff on Indian goods, Modi had said that he would not compromise 'even if it entailed paying a very heavy personal price'. The geopolitical factor The uncertainty over when the tariffs on India could ease may drag on, as Trump's high-stakes talks with Russian President Vladimir Putin did not result in a Russia-Ukraine ceasefire. However, Trump said he and Putin had made progress during the meeting in Alaska. US Treasury Secretary Scott Bessent has warned that the secondary tariffs on India could increase if 'things don't go well' during the Trump-Putin talks. 'I think everyone has been frustrated with President Putin. We expected that he would come to the table in a more fulsome way. It looks like he may be ready to negotiate. And we put secondary tariffs on the Indians for buying Russian oil. I could see, if things don't go well, then sanctions or secondary tariffs could go up,' Bessent said in an interview with Bloomberg earlier.
Mint
5 minutes ago
- Mint
A Startup Is Tapping Underground Parking Garages for Clean Energy
(Bloomberg) -- The heat held in New York's underground labyrinth of infrastructure, from hundreds of miles of subway tunnels to parking garages and malls, is a clean energy gold mine. Now, a Swiss startup wants to tap it to heat and cool buildings, all without drilling a single borehole. Globally, heating accounts for nearly half of all energy consumption. That could make decarbonizing it a half-trillion-dollar market, according to a BloombergNEF analysis. Using the Earth's heat offers one route to cut emissions, but traditional geothermal projects can be costly and require space to operate drilling equipment, making them a poor fit for cities. Startup Enerdrape's system uses energy-harvesting panels in manmade underground spaces, though, which could allow it to gain a toehold in cities. The Swiss company focuses on older multifamily buildings, which are harder to decarbonize than newer builds. In New York, residential structures built before 1960 make up more than 64% of the housing stock, though not all of it is well-suited for the panels. 'There really aren't many companies doing this,' said BNEF analyst Stephanie Diaz. 'They are truly a novel approach in how to decarbonize buildings,' though the company will have to figure out how to scale its technology to work with a wide variety of buildings. Enerdrape's technology is the product of decades of research spearheaded by Lyesse Laloui, a professor at the Swiss Federal Institute of Technology at Lausanne. A five-time startup founder, he's spent the last 15 years tackling the question of how to turn underground structures into energy sources. Initially, he created a solution for new construction, but realized that it only addressed a small part of the decarbonization puzzle compared to existing buildings. He and his team developed a prototype heat-exchanging panel in 2015. Enerdrape's panels affix to concrete infrastructure, which can hold large stores of heat. (Think of how hot a subway station gets in the summer, for example.) Enerdrape taps that heat using a system of prefabricated panels that absorb geothermal energy from the ground or the air. Even when underground spaces aren't sweltering, the ground temperature, at several feet of depth, stays relatively constant throughout the year. During the summer, Enerdrape's system uses the underground as a heat sink to absorb a building's heat and cool it. In the winter, it does the opposite, using the ground like a battery to warm things up. The system requires installing one panel for roughly every 110 square feet (10 square meters) of a building's floor area. The panels are connected to heat-transferring fluid, working in tandem with one or more heat pumps. 'Enerdrape moves heat from where it's not needed to where it is,' co-founder and Chief Technology Officer Alessandro Rotta Loria said. Rotta Loria, who was Laloui's former PhD student, likened it to an underground solar panel that feeds on heat rather than the sun's rays. Enerdrape says its panels can meet 100% of the space heating, cooling and hot water needs for buildings up to 10 stories in height. The company, which launched in 2019, has projects across Europe, including with Switzerland's largest retailer, Coop Immobilier, small businesses like a dental office in Spain, utilities and multiple Swiss cities. It also teamed up with Engie, one of Europe's largest gas and renewable energy suppliers, to provide energy to 72 homes with Paris Habitat, France's largest affordable housing provider. Enerdrape said its 145 panels provide 70 megawatt-hours of heat per year and cover 25% of homes' domestic hot water needs while avoiding 15 tons of carbon dioxide emissions annually. Despite many urban areas setting ambitious climate goals and a growing number of residential electrification programs, few companies target affordable housing, according to a 2022 report from the American Council for an Energy-Efficient Economy. Decarbonizing heat first is the most cost-effective way to electrify affordable housing, the group found. Low-income housing tends to be old buildings that are more expensive to retrofit, said Thatcher Bell, who leads climate tech accelerator The Clean Fight's programs. High upfront cost for replacement, financial constraints and the large number of stakeholders in these buildings make operators less likely to install new technology. The accelerator selected Enerdrape for a recent cohort of startups focused on low-cost, low-construction ways to cut emissions from older units, without displacing residents. The need for those types of solutions is growing. In New York, Governor Kathy Hochul calls for building 800,000 electrified or electrification-ready homes by 2030. New York City, meanwhile, passed a law to tackle building emissions, which account for approximately 70% of the city's carbon footprint. Similar measures in cities like Boston and Seattle have followed. The majority of New York City residential buildings covered by the law are pre-war construction of six stories or less, according to the Urban Green Council. That provides plenty of opportunities for technology like Enerdrape's. However, the startup faces some challenges. Heat pump adoption is higher in parts of Europe, and Enerdrape will have to contend with slower adoption in the US due to cost. Upfront cost, which includes panel installation and heat pump connection, is typically between $100,000 and $500,000, depending on a building's available surface area that can be activated as a heat source. Political headwinds in the US are another issue, with President Donald Trump curtailing federal support for heat pumps. The system can cut electricity costs, though. According to the company, it can deliver energy at 3 to 4 cents per kilowatt hour, compared to the average US gas price of 17 cents per kWh. Enerdrape says its solution is cheaper in Europe, where fuel costs are 3 to 5 times higher than in the US. The system also won't help with larger buildings, which are some of New York's biggest energy users. 'We're not going to be able to do much' with a 60-floor high-rise, Rotta Loria said. More stories like this are available on
Mint
5 minutes ago
- Mint
Donald Trump conveys Putin's demand for more Ukrainian territory to Zelensky: Report
WASHINGTON/MOSCOW/KYIV (Reuters) -U.S. President Donald Trump said on Saturday Ukraine should make a deal to end the war with Russia because "Russia is a very big power, and they're not", after hosting a summit where Vladimir Putin was reported to have demanded more Ukrainian land. In a subsequent briefing with Ukrainian President Volodymyr Zelenskiy, a source familiar with the discussion cited Trump as saying the Russian leader had offered to freeze most front lines if Kyiv's forces ceded all of Donetsk, the industrial region that is one of Moscow's main targets. Zelenskiy rejected the demand, the source said. Russia already controls a fifth of Ukraine, including about three-quarters of Donetsk province, which it first entered in 2014. Trump also said he had agreed with Putin that a peace deal should be sought without the prior ceasefire that Ukraine and its European allies, until now with U.S. support, have demanded. Zelenskiy said he would meet Trump in Washington on Monday, while Kyiv's European allies welcomed Trump's efforts but vowed to back Ukraine and tighten sanctions on Russia. The source said European leaders had also been invited to attend Monday's talks. Trump's meeting with Putin in Alaska on Friday, the first U.S.-Russia summit since Moscow launched its full-scale invasion of Ukraine in February 2022, lasted just three hours. "It was determined by all that the best way to end the horrific war between Russia and Ukraine is to go directly to a Peace Agreement, which would end the war, and not a mere Ceasefire Agreement, which often times do not hold up," Trump posted on Truth Social. His various comments on the meeting will be welcomed in Moscow, which says it wants a full settlement - not a pause - but that this will be complex because positions are "diametrically opposed". Russia's forces have been gradually advancing for months. The war - the deadliest in Europe for 80 years - has killed or wounded well over a million people from both sides, including thousands of mostly Ukrainian civilians, according to analysts. Before the summit, Trump had said he would not be happy unless a ceasefire was agreed on. But afterwards he said that, after Monday's talks with Zelenskiy, "if all works out, we will then schedule a meeting with President Putin". Monday's talks will evoke memories of a meeting in the White House Oval Office in February, where Trump and Vice President JD Vance gave Zelenskiy a brutal public dressing-down. Zelenskiy said he was willing to meet Putin. But Putin signalled no movement in Russia's long-held positions on the war, and made no mention in public of meeting Zelenskiy. His aide Yuri Ushakov told the Russian state news agency TASS a three-way summit had not been discussed. In an interview with Fox News' Sean Hannity, Trump signalled that he and Putin had discussed land transfers and security guarantees for Ukraine, and had "largely agreed". "I think we're pretty close to a deal," he said, adding: "Ukraine has to agree to it. Maybe they'll say 'no'." Asked what he would advise Zelenskiy to do, Trump said: "Gotta make a deal." "Look, Russia is a very big power, and they're not," he added. Zelenskiy has consistently said he cannot concede territory without changes to Ukraine's constitution, and Kyiv sees Donetsk's "fortress cities" such as Sloviansk and Kramatorsk as a bulwark against Russian advances into even more regions. Zelenskiy has also insisted on security guarantees for Kyiv, to deter Russia from invading again in the future. He said he and Trump had discussed "positive signals from the American side" on taking part, and that Ukraine needed a lasting peace, not "just another pause" between Russian invasions. Italian Prime Minister Giorgia Meloni said the most interesting developments of the summit concerned security guarantees - inspired by the transatlantic NATO alliance's Article 5. "The starting point of the proposal is the definition of a collective security clause that would allow Ukraine to benefit from the support of all its partners, including the USA, ready to take action in case it is attacked again," she said. Putin, who has hitherto opposed involving foreign ground forces, said he agreed with Trump that Ukraine's security must be "ensured". "I would like to hope that the understanding we have reached will allow us to get closer to that goal and open the way to peace in Ukraine," Putin told a briefing where neither leader took questions. "We expect that Kyiv and the European capitals ... will not attempt to disrupt the emerging progress..." For Putin, the very fact of sitting down with Trump represented a victory. He had been ostracised by Western leaders since the start of the war, and just a week earlier had faced a threat of new sanctions from Trump. Trump also spoke to European leaders after returning to Washington. Several stressed the need to keep pressure on Russia. British Prime Minister Keir Starmer said an end to the war was closer than ever, thanks to Trump, but added: "... until (Putin) stops his barbaric assault, we will keep tightening the screws on his war machine with even more sanctions." A statement from European leaders said "Ukraine must have ironclad security guarantees" and that no limits should be placed on its armed forces or right to seek NATO membership - key Russian demands. Some European politicians and commentators were scathing. "Putin got his red carpet treatment with Trump, while Trump got nothing. As feared: no ceasefire, no peace," Wolfgang Ischinger, former German ambassador to Washington, posted on X. "No real progress – a clear 1-0 for Putin – no new sanctions. For the Ukrainians: nothing. For Europe: deeply disappointing." Both Russia and Ukraine carried out overnight air attacks, a daily occurrence, while fighting raged on the front line. Trump told Fox he would postpone imposing tariffs on China for buying Russian oil, but that he might have to "think about it" in two or three weeks. He ended his remarks after the summit by telling Putin: "We'll speak to you very soon and probably see you again very soon." "Next time in Moscow," a smiling Putin responded in English. Trump said he might "get a little heat on that one" but that he could "possibly see it happening". (Additional reporting by Kanishka Singh, Trevor Hunnicutt, Jeff Mason, Lidia Kelly, Jasper Ward, Costas Pitas, Ismail Shakil, Bhargav Acharya, Alan Charlish, Yuliia Dysa, Pavel Polityuk, Gwladys Fouche, Dave Graham, Paul Sandle, Joshua McElwee, Andreas Rinke, Felix Light and Moscow bureau; Writing by Kevin Liffey, Mark Trevelyan, Joseph Ax and James Oliphant; Editing by Raju Gopalakrishnan and Gareth Jones)
