&w=3840&q=100)
Putin says he hopes to meet Trump as US presses for peace deal on Ukraine
The news came on the eve of a White House deadline for Moscow to show progress toward ending the 3-year-old war in Ukraine.
Putin's foreign affairs adviser Yuri Ushakov had said earlier a summit could possibly take place next week at a venue that has been decided in principle.
Ushakov brushed aside the possibility of Ukraine President Volodymyr Zelenskyy joining the summit, something the White House had said Trump was ready to consider. Putin has spurned Zelenskyy's previous offers of a meeting to clinch a breakthrough.
We propose, first of all, to focus on preparing a bilateral meeting with Trump, and we consider it most important that this meeting be successful and productive, Ushakov said, adding that US special envoy Steve Witkoff's suggestion of a meeting including Ukraine's leader was not specifically discussed.
Putin made the announcement in the Kremlin after his meeting with Sheikh Mohammed bin Zayed Al Nahyan, the president of the UAE.
There was no immediate comment Thursday from the White House and it was unclear how the announcement of the meeting would affect Trump's Friday deadline for Russia to stop the killing or face heavy economic sanctions.
Asked who initiated the meeting, Putin said that didn't matter and both sides expressed an interest.
Speaking of the possible involvement of Zelenskyy in future talks, Putin said he has mentioned several times that he wasn't against it, adding: It's a possibility, but certain conditions need to be created for it to happen.
Kirill Dmitriev, the head of Russia's sovereign wealth fund who met with Witkoff on Wednesday, said a Trump-Putin meeting would allow Moscow to clearly convey its position, and he hoped a summit would include discussions on mutually beneficial economic issues, including joint investments in areas such as rare earth elements.
The meeting would be the first US-Russia summit since 2021, when former President Joe Biden met Putin in Geneva. It would be a significant milestone toward Trump's effort to end the war, although there's no guarantee it would stop the fighting since Moscow and Kyiv remain far apart on their conditions for peace.
Next week is the target date for a summit, Ushakov said, while noting that such events take time to organise and no date is confirmed. The possible venue will be announced a little later, he said.
Months of US-led efforts have yielded no progress on stopping Russia's invasion of its neighbour. The war has killed tens of thousands of troops on both sides as well as more than 12,000 Ukrainian civilians, according to the United Nations.
Western officials have repeatedly accused Putin of stalling for time in peace negotiations to allow Russian forces time to capture more Ukrainian land. Putin previously has offered no concessions and will only accept a settlement on his terms.
A meeting between Putin and Trump on the war would be a departure from the Biden administration's policy of nothing about Ukraine without Ukraine a key demand from Kyiv.
At the start of his second term, Trump was conciliatory toward Putin, for whom he has long shown admiration, and even echoed some of his talking points on the war. But he recently has expressed increasing exasperation with Putin, criticising the Kremlin leader for his unyielding stance on US-led peace efforts, and has threatened Moscow with new sanctions.
Zelenskyy seeks European involvement Zelenskyy said he planned calls with European leaders Thursday to discuss the latest developments amid a flurry of diplomatic activity.
European countries must also be involved in finding a solution to the war on their own continent, he said on Telegram.
Ukraine is not afraid of meetings and expects the same bold approach from the Russian side. It is time to end the war, he added.
A ceasefire and long-term security guarantees are priorities in potential negotiation with Russia, he said on social media.
Securing a truce, deciding a format for a summit and providing assurances for Ukraine's future protection from invasion a consideration that must involve the US and Europe are crucial aspects to address, Zelenskyy said.
He noted that Russian strikes on civilians haven't eased off despite Trump publicly urging Putin to relent.
A Russian attack Wednesday in the central Dnipro region killed four people and injured eight others, he said.
Poll shows support for continuing the fight waning in Ukraine A new Gallup poll published Thursday found that Ukrainians are increasingly eager for a settlement that ends the fight against Russia's invasion.
The enthusiasm for a negotiated deal is a sharp reversal from 2022 the year the war began when Gallup found that about three-quarters of Ukrainians wanted to keep fighting until victory.
Now only about one-quarter hold that view, with support for continuing the war declining steadily across all regions and demographic groups.
The findings were based on samples of 1,000 or more respondents ages 15 and older living in Ukraine. Some territories under entrenched Russian control, representing about 10 per cent of the population, were excluded from surveys conducted after 2022 due to lack of access.
Since the start of the full-scale war, Russia's relentless pounding of urban areas behind the front line has killed more than 12,000 Ukrainian civilians, according to the United Nations.
On the 1,000-kilometre front line snaking from northeast to southeast Ukraine, where tens of thousands of troops on both sides have died, Russia's bigger army is slowly capturing more land.
In the new Gallup survey, conducted in early July, about seven in 10 Ukrainians say their country should seek to negotiate a settlement as soon as possible. Zelenskyy last month renewed his offer to meet with Putin, but his overture was rebuffed.
Most Ukrainians do not expect a lasting peace anytime soon, the poll found. Only about one-quarter say it's very or somewhat likely that active fighting will end within the next 12 months, while about seven in 10 think it's somewhat or very unlikely that active fighting will be over in the next year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
7 minutes ago
- The Hindu
Senior Advocates not permitted to mention cases before CJI's Court from August 11
No Senior Advocate will be permitted to mention cases for urgent listing and hearing before the court of Chief Justice of India B.R. Gavai from Monday (August 10, 2025). "As directed, designated senior counsels are not permitted to mention any case/s before the court of the Chief Justice of India with effect from Monday, August 11, 2025," a notice issued by the Supreme Court said. On August 6, the CJI had said that from August 11, no Senior Advocate will be permitted to mention cases for urgent listing and hearing in his court so that juniors get an opportunity to do it. CJI Gavai, who was sworn in on May 14, had reverted to the practice of oral mentioning of cases for urgent listing and hearing by lawyers and discontinued the practice adopted by his predecessor Justice Sanjiv Khanna. Justice Khanna discontinued the practice of oral submissions for urgent listing and hearing of cases by lawyers and asked them to either send emails or written letters instead. "There is a great demand that no matters should be mentioned by senior counsel(s)," CJI Gavai had said on August 6. He had asked the court staff to put out a notice that no senior lawyer will be permitted to mention cases for urgent listing and hearing in his court from Monday. "From Monday, no senior counsel, I mean designated senior counsel, will be allowed to mention matters. Let juniors get an opportunity to do it," the CJI had said. "This will be practised at least in my court," the CJI had said, adding that it was up to other apex court judges to adopt the practice. Usually lawyers mention their cases before the CJI-led bench at the outset of the day's proceedings for out-of-turn listings and hearing of cases on grounds of urgency.
&w=3840&q=100)
Business Standard
7 minutes ago
- Business Standard
'Indian refiners can do without Russian oil, but with trade-offs'
Indian refiners, the world's biggest user of Russian oil, can operate without supplies from Moscow from a technical standpoint, but the shift would involve major economic and strategic trade-offs, analysts said. Russian crude supports high distillate yields - the share of crude converted into fuels like petrol, diesel, and jet fuel through distillation. Replacing Russian crude, which accounts for up to 38 per cent of India's refinery intake, with alternatives will shift yields, resulting in lower middle distillates (diesel and jet fuel) and higher residue outputs, according to global real-time data and analytics provider Kpler. US President Donald Trump last week announced an additional 25 per cent tariff on US imports from India -- raising the overall duty to 50 per cent -- as a penalty for the country's continued imports of Russian oil. Since the steep tariffs are likely to hit the USD 27 billion of non-exempt exports that India does to the US, there has been chatter around stopping or curtailing oil imports from Russia. "Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs," Kpler said in a report, 'US Tariffs on Indian Imports: Implications for Energy Markets & Trade Flows'. India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022. Consequently, from a mere 1.7 per cent share in total oil imports in 2019-20 (FY20), Russia's share increased to 35.1 per cent in FY25, and it is now the biggest oil supplier to India. In terms of volume, India imported 88 million tonnes from Russia in FY25, out of the total shipment of 245 million tonnes. In July, India received 1.6 million barrels per day of crude from Russia, ahead of China's nearly 1 million bpd and Turkey's around 5,00,000 bpd. Kpler said deep discounts and strong compatibility with India's refining systems led to a surge in imports of Russian Ural crude oil. "Russian crude supports high distillate yields (diesel and jet fuel) and is ideally suited to India's advanced refining infrastructure. It has enabled both state-owned and private refiners to operate above nameplate capacity while maintaining strong margins. "A reversal of this will result in a mild yield shift (lower middle distillate yields, higher residue yields) and probably a small reduction in primary throughput rates, as margins will no longer command a sizeable premium against regional benchmarks, considering existing discounts on Russian oil," Kpler said. The Indian government has issued diplomatic but firm responses to the US tariffs, emphasising the importance of maintaining energy security. "Should Russian oil become inaccessible, India could face an additional USD 3-5 billion in annual import costs (based on a USD 5 per barrel premium on 1.8 million bpd). If global prices rise further (a scenario in which Russian crude exports are being curtailed, in the absence of sufficient buying interest from India), the financial burden could increase significantly," the report said. This may prompt the government to cap retail fuel prices, which could strain fiscal balances. A spike in the import bill could even lead to a reduction in overall crude purchases. India's limited storage capacity further constrains its ability to manage such disruptions. While Russian flows to India continue under a 'business-as-usual' stance, the escalating US rhetoric has reopened conversations about supply diversification, with some Indian refiners reportedly booking increased volumes of Middle Eastern crude. According to Kpler, replacing 1.8 million barrels per day (bpd) of Russian crude would require a multi-regional approach. The Middle East remains the most viable option operationally, grades such as WTI Midland from the US could contribute 2,00,000-4,00,000 bpd. These (US crude) are lighter and yield less diesel, a disadvantage for India's distillate-heavy demand. Long-haul freight and cost considerations will also restrict scalability, it said. West Africa and Latin America (LatAm) crudes offer moderate potential. "A balanced replacement strategy may involve 60-70 per cent of substitute volumes from the Middle East, with US and African/LatAm crudes serving as tactical fillers. Nevertheless, none match Russian barrels in cost, quality, or reliability (some of the Russia-to-India barrels have already been contracted under term agreements)," it noted. According to Kpler, Indian refiners can technically adapt to the loss of Russian barrels, but with significant economic consequences. "Replacing 1.7-2.0 million bpd of discounted, medium-sour crude would erode refining margins and misalign product yields. Lighter substitutes like WTI or West African grades produce more gasoline and naphtha, reducing diesel output and hurting both domestic and export economics." Even Middle Eastern grades, while closer in quality, are priced tightly to official selling prices (OSP), leaving limited arbitrage opportunities. "In addition to higher feedstock costs, Indian refiners would face elevated freight and credit charges," it said. "The transition is commercially painful, even if technically feasible. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
7 minutes ago
- Mint
Indian stock market: Nifty 50 slides 7% from record high— will Trump's tariffs trigger a 10%+ fall?
Indian stock market: The threat of steep tariffs imposed by US President Donald Trump on Indian imports cannot be overlooked. The 50 per cent tariff on India is higher than that on several of its export rivals—20 per cent for Bangladesh and Vietnam, and 30 per cent for China. Despite assessments that Trump's tariffs will have a manageable impact on the Indian economy and hopes that India will be able to strike a deal with the US in the near future, the fact is that exports from sectors such as gems and jewellery, textiles, and certain food items have come to a grinding halt. The Indian stock market is still uncertain, trying to discount the impact of tariffs. However, more than the tariff itself, the biggest risk for the market is Trump's unpredictability. The Nifty 50 has fallen nearly 4 per cent in the last one month, primarily due to tariff-related concerns. Experts expect the domestic market to remain under pressure in the near term due to Trump's tariffs, elevated valuations and unimpressive earnings. They believe the market may see another 5 per cent fall. "If US tariffs on Indian imports remain at 50 per cent, the Nifty 50 could see a cumulative drop of over 10 per cent from its peak, given the current valuations," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments. "In India, the major concern remains the quality of corporate earnings. Even now, the market is trading at more than 21 times estimated FY26 earnings. With other global markets looking far cheaper, FIIs may continue selling Indian equities," Vijayakumar added. The 50 per cent tariff rate has made exports from India to the US practically unviable, which will significantly impact the domestic economy. According to Bloomberg Economics estimates, the cumulative tariffs could cut exports to the US by 60 per cent and shrink India's GDP by about 1 per cent. Trump's tariffs are expected to stoke inflation in the US in the coming months, which can push the US Federal Reserve to keep interest rates at elevated levels. This could create a situation of slowing growth amid rising inflation or stagflation. Such a condition will affect foreign capital movement in emerging markets like India. The average US tariff is around 18 per cent—ranging from a low of 10 per cent for the UK to as high as 50 per cent for Brazil and India. Experts believe at least 10 per cent of these tariffs will be passed on to consumers, which will raise inflationary pressure. Vijayakumar believes that the US GDP growth rate in 2025 will be a story of two halves. In the first half, particularly after the April 2 'reciprocal tariffs,' there was a huge frontloading of imports into the US, which sharply increased inventories. This pushed GDP growth into respectable territory for the first half. That is unlikely to happen in the second half, Vijayakumar said. Vijayakumar underscored that imports will fall, and whatever imports do take place will be subject to tariffs, which will be passed on to consumers. This will create a double whammy of a slowing economy and rising inflation—commonly known as stagflation. "In such an inflationary environment, Fed Chair Jerome Powell is unlikely to cut interest rates. While the consensus currently points to a 25-basis-point cut in September, this is improbable as incoming data could deteriorate further. A global slowdown, a US slowdown, and higher US inflation are all possible," said Vijayakumar. A global economic slowdown and the return of inflationary pressure could mean the market remains subdued for a longer period. A lot will also depend on how the bond market behaves amid the evolving situation and incoming data. After the April 2 reciprocal tariffs announcement, the US bond yields saw sharp spikes. Many experts saw rising yields as one of the key reasons why Trump announced a 90-day pause on tariffs and agreed to negotiations. It is quite possible that China could sell part of its US bond holdings if it fails to secure a favourable deal with the US before the August 12 deadline. This could impact the US bond market. Experts believe Trump's tariff tantrums may last for a year or so, till the mid-term elections. "In 2026, the US will hold mid-term elections for the House of Representatives and the Senate, and given the sharp fall in Trump's popularity—likely to worsen due to rising inflation—he may lose his majority. If that happens, his ability to impose trade measures freely could be curtailed," said Vijayakumar. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
