logo
A state dinner for PM Modi might see ‘ignored' Xi Jinping skip Brics summit in Brazil

A state dinner for PM Modi might see ‘ignored' Xi Jinping skip Brics summit in Brazil

First Post8 hours ago

There are speculations that Brazil president's invitation to PM Modi for a state dinner following the Brics Summit may have led China's Xi to pull out read more
Prime Minister Narendra Modi (left) with Brazil's President Luiz Inacio Lula da Silva (right) during the symbolic tree plantation ceremony at the closing session of the G20 Summit 2023 at the Bharat Mandapam, in New Delhi, Sunday, Sept. 10, 2023. Source: PTI
In a first, Chinese President Xi Jinping might skip the upcoming Brics summit in Rio de Janeiro; and the speculations have already caused frustration among Brazilian officials.
Hong Kong-based South China Morning Post (SCMP) reported, citing officials, that Xi may not attend next week's summit owing to 'scheduling issues'. Premier Li Qiang is expected to lead the Chinese delegation.
The SCMP also reported speculations that Brazilian President Luiz Inácio Lula da Silva's invitation to Indian Prime Minister Narendra Modi for a state dinner following the Brics Summit may have influenced Beijing's decision.
STORY CONTINUES BELOW THIS AD
According to the Post, the Chinese side is fearing that Lula-Modi meeting may grab the limelight, and Xi might look as 'a supporting actor'.
Brazil 'frustrated'
Along with scheduling issues, the Chinese officials say another reason for speculated Xi's absence at the summit is that Lula and Xi have met twice in less than a year – first at the G20 summit and state visit to Brasília last November, and again in May during the China-Celac forum in Beijing.
Despite these speculations, Beijing has said it supports Brazil's Brics presidency. Guo Jiakun, the Chinese foreign ministry's spokesman, said Beijing sought to 'promote deeper cooperation' among its members.
'In a volatile and turbulent world, Brics nations maintain their strategic resolve and work together for global peace, stability and development,' he added.
However, officials in Brazil are pulling no punches.
A source in Brasília told the Post that Lula had travelled to Beijing in May as 'a gesture of goodwill' and with 'the expectation that the Chinese president would reciprocate' by attending the BRICS Summit.
Even in February, Lula's special adviser for international affairs Celso Amorim had raised this matter with Chinese Foreign Minister Wang Yi.
Amorim reportedly told the Chinese side that they were hoping to host Xi Jinping.
'I said to them, 'Brics without China is not Brics',' Amorim said, recalling that during the first Brics summit in Brazil, then-president Hu Jintao attended despite a major earthquake in his country. 'He stayed only one day, but he came.'
He said it was important for China to reinforce its presence at the world stage, given the 'breaking of international rules' with '[the US] leaving the Paris Agreement and the World Health Organization'.
STORY CONTINUES BELOW THIS AD

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Rupee ends a tad lower, month-end importer dollar bids weigh
Rupee ends a tad lower, month-end importer dollar bids weigh

Time of India

time18 minutes ago

  • Time of India

Rupee ends a tad lower, month-end importer dollar bids weigh

The Indian rupee weakened slightly on Wednesday. This was due to dollar demand from importers at the end of the month. Gains in Indian stocks and improved risk appetite limited the rupee's losses. A fragile truce between Iran and Israel also helped. The dollar index rose slightly. Brent crude oil prices increased by about one percent. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Indian rupee closed slightly weaker on Wednesday, weighed down by month-end importer dollar demand , while gains in local equities and a revival in risk appetite after a fragile truce between Iran and Israel cushioned the rupee closed at 86.0775 against the U.S. dollar, down 0.1% from its close of 85.9750 in the previous currency touched a peak of 85.8075 earlier in the day but reversed course on the back of corporate dollar demand, traders weakness in the offshore Chinese yuan was also a dampener for the rupee, a trader at a private bank sentiment remained upbeat with most Asian stocks logging gains after the truce between Iran and Israel appeared to Iran-Israel ceasefire is going well, U.S. President Donald Trump said on Wednesday. Each side claimed victory on Tuesday after 12 days of war, which the U.S. joined with airstrikes in support of Israel to take out Iran's uranium enrichment dollar index was up 0.1% at 98.1 while Asian currencies were trading mixed. Brent crude oil futures rose about 1% to $67.8 per barrel."We believe that the negative impact of the reduced geopolitical risk on the dollar has largely played out," ING Bank said in a dollar could see some stabilisation at these levels but risks remain tilted to the downside, the bank dollar-rupee forward premiums ticked up on the back of the Indian central bank's announcement of a measure to withdraw excess banking system liquidity that lifted near forwards, with the impact spilling over to far tenors as 1-year dollar rupee implied yield rose 7 bps to 1.96%.

‘Hopefully will purchase plenty from US…': Donald Trump says China can get Iran oil, but wants it to buy from America; will it listen?
‘Hopefully will purchase plenty from US…': Donald Trump says China can get Iran oil, but wants it to buy from America; will it listen?

Time of India

time18 minutes ago

  • Time of India

‘Hopefully will purchase plenty from US…': Donald Trump says China can get Iran oil, but wants it to buy from America; will it listen?

Oil prices dropped approximately 6% on Tuesday, influenced by Trump's remarks regarding China following the ceasefire declaration. (AI image) US President Donald Trump announced on Tuesday that China may proceed with Iranian oil purchases following the Israel-Iran ceasefire agreement, though the White House subsequently clarified this statement does not represent an easing of US sanctions. "China can now continue to purchase oil from Iran. Hopefully, they will be purchasing plenty from the US, also," Trump posted on Truth Social, shortly after authorising US strikes on three Iranian nuclear facilities. A senior White House official explained to Reuters that Trump's statement highlighted Iran's decision not to block the Strait of Hormuz to oil vessels, as such a blockade would have significantly affected China, which is the largest buyer of Iranian oil. The official said, "The president continues to call on China and all countries to import our state-of-the-art oil rather than import Iranian oil in violation of US sanctions." Oil prices dropped approximately 6% on Tuesday, influenced by Trump's remarks regarding China following the ceasefire declaration. US Sanctions On Iran A potential easing of sanctions on Iran would indicate a departure from the previous stance, as Trump had announced in February his intention to maintain maximum pressure on Iran, targeting its oil exports due to concerns over its nuclear programme and regional militant support. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Что о вас может рассказать поза во время сна? Удивительные Новости Undo Trump had previously implemented multiple sanctions affecting Chinese independent refineries and port operators due to their Iranian oil purchases. "President Trump's greenlight for China to keep buying Iranian oil reflects a return to lax enforcement standards," said Scott Modell, a former CIA officer, now CEO of Rapidan Energy Group, according to the Reuters report. Beyond non-enforcement, the president holds authority to suspend or waive sanctions through executive orders or congressional legislation. According to Modell, Trump is unlikely to waive sanctions before upcoming US-Iran nuclear negotiations, as these measures provide strategic advantage considering Tehran's requirement for permanent sanctions relief. Jeremy Paner from Hughes Hubbard & Reed law firm indicated that a presidential decision to suspend Iran-related oil sanctions would necessitate substantial inter-agency coordination. The United States Treasury would require authorisation permits, whilst the State Department must provide waivers that necessitate notification to Congress. China To Buy More US Oil? Market specialists and oil analysts across Asia indicated that Trump's statements were unlikely to influence China's immediate procurement patterns for oil, whether from Iran or the United States. Iranian crude constitutes approximately 13.6% of China's petroleum acquisitions this year, with the reduced-price supplies serving as crucial support for independent refineries operating under tight margins. American oil represents merely 2% of Chinese imports, and Beijing's imposed 10% duties on US petroleum effectively discourage additional purchases. China consistently challenges what it terms Washington's "abuse of illegal unilateral sanctions." When questioned about Trump's statement during a standard press conference, Chinese foreign ministry spokesperson Guo Jiakun stated that China would implement appropriate energy security measures aligned with its national interests. Increased Iranian oil acquisitions by China and other nations could potentially create tension with Saudi Arabia, the global leader in oil exports. The effectiveness of US sanctions on Iranian exports has remained restricted since the initial stringent measures implemented during Trump's previous administration. This year, Trump has imposed sanctions on Chinese trading firms and terminals, yet the outcomes have been notably less impactful than intended, according to Modell's assessment. In response to media queries, State Department spokesperson Tammy Bruce confirmed that Trump had indicated his objectives and the administration is committed to achieving them. She declined to elaborate on specific procedures. "But clearly we are focused on making sure that (the) guiding hand of President Trump prevails and moves this government forward, so we will have to wait and see when it comes to what that ends up looking like," Bruce said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Modi set for 5-nation Africa & Latin America visit in July; will be 1st PM to visit Ghana since Rao
Modi set for 5-nation Africa & Latin America visit in July; will be 1st PM to visit Ghana since Rao

The Print

time32 minutes ago

  • The Print

Modi set for 5-nation Africa & Latin America visit in July; will be 1st PM to visit Ghana since Rao

The five-nation visit coincides with the BRICS (Brazil, Russia, India, China and South Africa) summit, which is being hosted in Rio de Janeiro on 6-7 July. Modi is likely to travel to Brasília, the Brazilian capital city, for a bilateral meeting with President Luiz Inácio Lula da Silva. A source familiar with the matter said that the Prime Minister's visit is set to begin with a visit to Ghana, followed by the visit to three countries in South America and the Caribbean, before ending in Namibia. New Delhi: Prime Minister Narendra Modi is set for a five-nation visit likely beginning 2 July, which will include Ghana, Trinidad and Tobago, Argentina, Brazil and Namibia, ThePrint has learnt. 'The focus of the visit is strengthening India's ties with Africa, as well as with the largest economies in South America. There is a strong Indian diaspora connection with Trinidad and Tobago,' the source said with regards to the visit. The source added that with Ghana, there are long-standing ties, and a key area for talks will be the development partnership. Argentina and Brazil are two of the largest economies in South America. Modi met with Presidents Lula and Javier Milei of Argentina on the margins of the G20 leaders' summit last year hosted by Brazil. Cooperation between India and Namibia has grown in recent years, especially with the Cheetah reintroduction project. In 2022, Prime Minister Modi personally released cheetahs translocated from Namibia at Kuno in Madhya Pradesh—the first-of-its-kind intercontinental translocation of the carnivore species globally. Ties between India and Trinidad and Tobago goes back almost two centuries, when the first ship carrying Indian indentured labourers landed on the shores of Trinidad on 30 May, 1845. Today the Indian community, specifically persons of Indian origin, make up roughly 40 percent of the total population of the Caribbean country today. Also Read: 'Hope Pakistan will stand with Iran,' says Iranian diplomat, urges India to condemn Israeli aggression First visits to Ghana, Namibia and T&T Modi's visits to Ghana, Namibia and Trinidad and Tobago, will be his first. The last Indian Prime Minister to visit Accra was Narasimha Rao in November 1995. President Pranab Mukherjee did a state visit to Namibia in 2016, however, no Indian Prime Minister has visited the African nation yet. India had been one of the earliest nations to raise the question over the independence of Namibia at the United Nations in 1946. The Southwest Africa's People Organisation (SWAPO), which led Namibia's independence movement, opened its first foreign mission in India in 1986. After Windhoek won its independence in 1990, India upgraded its mission in Namibia to that of a High Commission. The last visit to Port of Spain by an Indian PM was by Manmohan Singh in 2009. The President of Trinidad and Tobago Christine Carla Kangaloo virtually addressed India's Pravasi Bharatiya Diwas earlier this year. Kangaloo was slated to travel to Bhubaneshwar, but was unable to do so. With Brazil and Argentina, India maintains a strategic partnership. Brazil and India are founding members of BRICS and have maintained a strong partnership across a number of areas, including supporting their respective bids for permanent membership to the United Nations Security Council (UNSC). Modi last visited Argentina in 2018 for the G20 leaders' summit in November 2018. Milei, the ultraconservative President, assumed power in 2023 and has attempted to resuscitate its economy and rein in its inflation, pushing for closer trade with the US. While Modi's attendance at the BRICS summit will see a number of bilateral meetings with various leaders, the one meeting which is not expected is with President Xi Jinping of China. The Chinese President is unlikely to attend the summit, according to reports. (Edited by Tony Rai) Also Read: Carney is repairing what Trudeau left damaged. India and Canada are now on a path to reset ties

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store