Tension between India, China has eased significantly: Russian FM Sergei Lavrov
The tension between India and China has eased "significantly" and the stalled work of the RIC troika could be restarted, Russian Foreign Minister Sergei Lavrov said on Monday.
Speaking at the "Forum of the Future-2050" here, he said the resumption of joint work in RIC format could be the first step towards pan-Eurasian processes, including the formation of a
multi-polar architecture
.
"I really hope that we will be able to restore the work of the Russia-India-China trio. We have not met at the level of foreign ministers for the last couple of years, but we are discussing this issue with my Chinese colleague and with the Indian head of the External Affairs department.
"I really hope that now that the tension has eased, in my opinion, has eased significantly on the border between India and China, and the situation is stabilising, there is a dialogue between New Delhi and Beijing, we will be able to resume the work of this Russia-India-China trio," Lavrov was reported as saying by Russia's state-run TASS news agency.
Lavrov said that Russia and China can and should play a leading and proactive role in the pan-continental process, including in the formation of a multi-polar architecture, and added that the restoration of the RIC format could act as the first step towards this.
Live Events
"This will also be a very important step forward in the movement of continental processes," Lavrov added.
The two-day forum inspired by Russian philosopher Alexander Dugin, often dubbed as President Vladimir Putin's 'guru', has attracted young participants.
Tesla and SpaceX CEO Elon Musk's father Erol Musk is also attending the forum.
Last week, a Pakistani delegation met Lavrov in Moscow and handed over a letter from Prime Minister Shehbaz Sharif for Russian President Vladimir Putin.
Lavrov said that a direct dialogue between Pakistan and India is needed to build mutual trust between the two countries, TASS news agency reported, citing the Russian Foreign Ministry.
On Friday, top diplomats from India and China discussed bilateral relations to implement the consensus reached by the leaders of the two countries last year, the Chinese Foreign Ministry said.
The meeting between Indian Ambassador to China Pradeep Kumar Rawat and China's Vice Foreign Minister Sun Weidong on Thursday is the first diplomatic engagement between the two countries post the Operation Sindoor that India launched in response to the April 22
Pahalgam terror attack
that left 26 people dead.
Tensions between India and Pakistan, Beijing's all-weather ally, escalated after the Pahalgam terror attack, with India carrying out precision strikes on terror infrastructure in Pakistan and Pakistan-occupied Kashmir in the early hours of May 7.
The four days of on-ground hostilities from both sides ended with an understanding of stopping the military actions following talks between the directors general of military operations of both sides on May 10.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Financial sector regulators to work on universal KYC
Financial sector regulators, led by the RBI, are developing a universal KYC framework with the CKYCR to streamline verification processes. Nirmala Sitharaman urged regulators to ensure seamless KYC experiences for citizens and expedite refunds of unclaimed amounts through district-level camps. The FSDC also discussed strengthening cybersecurity and implementing budget announcements related to KYC simplification for NRIs, PIOs, and OCIs. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Financial sector regulators, including the Reserve Bank of India , will look at a universal know your customer (KYC) framework and develop systems with the Central Know Your Customer Registry (CKYCR) to promote the inter-usability of records and avoid multiple minister Nirmala Sitharaman in a meeting of the Financial Stability and Development Council (FSDC) in Mumbai on Tuesday urged the financial sector regulators to take proactive steps to ensure that citizens have a seamless experience with the KYC processes across the financial a statement, the finance ministry said the FSDC also considered strengthening the cyber resilience framework of the Indian financial sector through a financial sector-specific cybersecurity FSDC also discussed issues relating to formulating a strategy for implementing the past decisions and the budget announcements, which included prescribing common KYC norms, simplification and digitalisation of the KYC process, including digital onboarding for non-resident Indians (NRIs), PIOs and OCIs in the Indian securities FSDC has representation from the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (Irdai), the Securities and Exchange Board of India (Sebi), the Pension Fund Regulatory and Development Authority (PFRDA) and officials from the finance and corporate affairs urged the regulators and departments to expedite the process of refund to rightful owners of unclaimed amounts by holding special district-level also emphasised that interest of common citizens be kept in mind and therefore expeditiously refund the claims of the rightful claimants, the statement unclaimed amounts comprise deposits in banks, unclaimed shares and dividends managed by IEPFA and unclaimed insurance and pension funds with Irdai and PFRDA, drive is to be conducted in coordination with RBI, Sebi, MCA, PFRDA and Irdai along with banks, pension agencies and insurance finance ministry statement noted that the FSDC also deliberated on the emerging trends from the domestic and global macro-financial situation and stressed the need to be vigilant."The council recognised the need for proactive efforts to mitigate potential risks to financial stability while adopting adequate safeguards for the financial system's resilience," it said.
Economic Times
28 minutes ago
- Economic Times
Rare earths and magnets minerals elements: Why are these giving China edge in trade war with USA?
Rare-earth magnet Synopsis Rare earths and magnets minerals elements have hogged all the limelight during the US-China trade war. US-China trade deal has finally been chalked out, according to President Donald Trump. Analysts have claimed that China was counting on one crucial advantage as it strived to grind out a deal to ease its high-stakes trade war with the United States -- dominance in rare earths. Now question arises how rare earths have become a key sticking point in talks between the US and China. ADVERTISEMENT Rare Earths Minerals Elements Used in electric vehicles, hard drives, wind turbines and missiles, rare earth elements are essential to the modern economy and national defence, AFP reported. "The Middle East has oil. China has rare earths," Deng Xiaoping, the late Chinese leader whose pro-market reforms set the country on its path to becoming an economic powerhouse, said in 1992. Since then, Beijing's heavy investment in state-owned mining firms and lax environmental regulations compared to other industry players have turned China into the world's top supplier, as per AFP now accounts for 92 percent of global refined output, according to the International Energy the flow of rare earths from China to manufacturers around the world has slowed after Beijing in early April began requiring domestic exporters to apply for a licence -- widely seen as a response to US tariffs. ADVERTISEMENT Under the new requirements -- which industry groups have said are complex and slow-moving -- seven key elements and related magnets require Beijing's approval to be shipped to foreign buyers. Why Does USA Need Rare Earths? ADVERTISEMENT Ensuring access to the vital elements became a top priority for US officials in talks with Chinese counterparts."The rare earth issue has clearly... overpowered the other parts of the trade negotiations because of stoppages at plants in the United States," said Paul Triolo, a technology expert at the Asia Society Policy Institute's Center for China Analysis, in an online seminar on Monday. ADVERTISEMENT That disruption, which forced US car giant Ford to temporarily halt production of its Explorer SUV, "really got the attention of the White House", said reportedly rely on Chinese rare earths for producing its defence equipment even as trade and geopolitical tensions deepen. ADVERTISEMENT An F-35 fighter jet contains over 900 pounds (more than 400 kilograms) of rare earth elements, noted a recent analysis by Gracelin Baskaran and Meredith Schwartz of the Critical Minerals Security Program at the Center for Strategic and International Studies. China has Largest Reserves Pentagon is trying to catch up, with its "mine-to-magnet" strategy aiming to ensure an all-domestic supply chain for the key components by 2027. The challenge facing Washington to compete with Beijing in rare earths is compounded by sheer luck: China sits on the world's largest reserves. Q1. Who is President of USA?A1. President of USA is Donald Trump. Q2. What are usage of Rare earths and magnets? A2. Used in electric vehicles, hard drives, wind turbines and missiles, rare earth elements are essential to the modern economy and national defence, AFP reported. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. Rare earths and magnets minerals elements: Why are these giving China edge in trade war with USA? Rare earths and magnets minerals elements: Why are these giving China edge in trade war with USA? Horoscope today, June 12, 2025: powerful daily zodiac predictions for love, career, and money — big revelations ahead for Gemini, Capricorn, Pisces, Aries, and Libra you won't want to miss Horoscope today, June 12, 2025: powerful daily zodiac predictions for love, career, and money — big revelations ahead for Gemini, Capricorn, Pisces, Aries, and Libra you won't want to miss Yes, Taylor Swift eats fast food too — here's the go-to spots she loves and exactly what she likes to order Yes, Taylor Swift eats fast food too — here's the go-to spots she loves and exactly what she likes to order Elon Musk says yes to impeaching Trump — and now 2025 odds are soaring on crypto betting markets Elon Musk says yes to impeaching Trump — and now 2025 odds are soaring on crypto betting markets Fans heartbroken: Beach Boys' Brian Wilson dies at 82 — you won't believe the legacy he leaves behind Fans heartbroken: Beach Boys' Brian Wilson dies at 82 — you won't believe the legacy he leaves behind Sabrina Carpenter drops surprise news — new album 'Man's Best Friend' coming soon after 'Short n' Sweet' Sabrina Carpenter drops surprise news — new album 'Man's Best Friend' coming soon after 'Short n' Sweet' Elon Musk endorses Warren Buffett's 5-minute plan to erase the deficit — bold idea gains momentum Elon Musk endorses Warren Buffett's 5-minute plan to erase the deficit — bold idea gains momentum Is Angelina Jolie and Brad Pitt's 20-year-old daughter, Zahara, engaged? Diamond ring sparks rumors Is Angelina Jolie and Brad Pitt's 20-year-old daughter, Zahara, engaged? Diamond ring sparks rumors Hollywood Vs AI: What is Midjourney? Here's all details about Disney and NBCUniversal suit against AI firm over copyright infringement Hollywood Vs AI: What is Midjourney? Here's all details about Disney and NBCUniversal suit against AI firm over copyright infringement Ex-Ubisoft execs on trial in France for workplace harassment, including bizarre claims of farting at staff NEXT STORY
Time of India
29 minutes ago
- Time of India
tilaknagar industries: Allied Blenders buys rights to Mansion House and Savoy Club Brands
Mumbai: Allied Blenders and Distillers Ltd (ABD) said it has acquired global rights for Mansion House and Savoy Club brands from UTO Asia for $1.2 deal excludes territories such as Singapore, Malaysia, Indonesia, Philippines, Thailand, Cambodia, Vietnam, Laos, China, and Myanmar."The acquisition of UTO Asia and the associated ownership of worldwide right, title interest in the Mansion House and Savoy Club brands aligns with ABD's strategic expansion objectives, allowing it to gain full control over the Mansion House and Savoy Club brands on a global scale, while specifically addressing regional interests in key markets," it said in a BSE filing. In India, Tilaknagar Industries Ltd and ABD are involved in a trademark dispute over these brands. While Tilaknagar holds exclusive rights to sell these brands in India, ABD has been granted permission by the Bombay High Court to launch products under the same brand names, particularly in West Industries entered a pact with Herman Jensen (formerly UTO) nearly four decades ago and had claimed the latter ceded the rights of Mansion House brandy to rescue itself from a court action in Rotterdam in 1987. Under this arrangement, Jensen would retain Mansion House brand in whisky, which was a bigger business then. The Dutch side, however, argued that the arrangement was never legally solemnised and moved courts in 2008, when Mansion House brandy had emerged as a formidable brand in the Indian December 2011, a one-member bench of the Bombay HC held that Tilaknagar had the rights to Mansion House in India, but Herman Jensen went on to appeal before a division bench. In 2014, ABD bought a 50% stake in the two brands from Herman Jansen, giving ABD rights to produce and sell them in the country. In February this year, the Bombay HC dismissed Tilaknagar's plea and granted Allied Blenders permission to use the Mansion House brand name for some of its products in West Bengal.
