&w=3840&q=100)
US State Department approves $322 mn in proposed weapons sales to Ukraine
The potential sales, which the department said were notified to Congress, include $150 million for the supply, maintenance, repair and overhaul of US armored vehicles, and $172 million for surface-to-air missile systems.
The approvals come weeks after Defense Secretary Pete Hegseth directed a pause on other weapons shipments to Ukraine to allow the Pentagon to assess its weapons stockpiles, in a move that caught the White House by surprise. President Donald Trump then made an abrupt change in posture, pledging publicly earlier this month to continue to send weapons to Ukraine.
We have to, Trump said. They have to be able to defend themselves. They're getting hit very hard now. We're going to send some more weapons defensive weapons primarily.
Trump recently endorsed a plan to have European allies buy US military equipment that can then be transferred to Ukraine. It was not immediately clear how the latest proposed sales related to that arrangement.
Since Russia launched its full-scale invasion of Ukraine in February 2022, the US has provided more than $67 billion in weapons and security assistance to Kyiv.
Since Trump came back into office, his administration has gone back and forth about providing more military aid to Ukraine, with political pressure to stop US funding of foreign wars coming from the isolationists inside the Trump administration and on Capitol Hill.
Over the course of the war, the US has routinely pressed for allies to provide air defense systems to Ukraine. But many are reluctant to give up the high-tech systems, particularly countries in Eastern Europe that also feel threatened by Russia.
(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.)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)

Business Standard
17 minutes ago
- Business Standard
Congress, Chidambaram speaking Pakistan's language: Shivraj Chouhan
Union minister Shivraj Singh Chouhan on Monday accused the Congress and its leader P Chidambaram of "speaking the same language" as used by Pakistan and claimed that the Opposition was "running away" from a discussion in Parliament on Operation Sindoor out of fear of being unmasked. Speaking to reporters inside the Parliament complex, he said when the government is ready to discuss the issue then why is the Opposition running away from it. The Lok Sabha was adjourned till 2 pm on Monday amid opposition protests on the revision of electoral rolls in Bihar, delaying the start of the discussion on Operation Sindoor. A political row erupted on Monday over Chidambaram's reported remarks that the terrorists behind the Pahalgam could have been "homegrown". "It was their demand only that a discussion should be held on Operation Sindoor. And, when the government is ready for discussion, why is it running away from it? The entire Opposition is not letting a discussion on terror and terrorism. Is there a fear of being unmasked?" Chouhan said. Reacting to former home minister Chidambaram's reported remarks related to the Pahalgam terror attack in a video interview, Chouhan said, "Why is P Chidambaram saying this?" "The language in which Pakistan is speaking, the same language is being used by Chidambaram and Congress... The mask has been removed from the Opposition's face," he said, wondering if the Congress leader was asking for proof about Pakistan's hand in the attack. Chidambaram, in an interview with The Quint, said, "...for all we know they could be homegrown terrorists, why do we assume they came from Pakistan?". He, however, later said that his remarks had been taken out of context. "Trolls are of different kinds and use different tools to spread misinformation. The worst kind is a troll who suppresses the full recorded interview, takes two sentences, mutes some words, and paints the speaker in a black colour!" he wrote on X. Earlier in the day, BJP leader and former Union minister Anurag Thakur accused the Congress of casting doubts on the achievements of the Indian Army during Operation Sindoor. Speaking to PTI Videos inside the Parliament complex, he alleged, "When it comes to terrorist attacks, Pakistan is unable to defend itself, but Rahul-occupied Congress leaders are quick to take its side." Thakur said this was not the first time that Congress leaders have demanded evidence from the Indian Army while attempting to "absolve Pakistan in advance". "The country will not give dossiers anymore, it will give doses. We will not give proof, we will give coffins to terrorists," the Hamirpur MP said. Thakur said those who once promoted an anti-India narrative could not face the Indian Army during the operation, in a reference to Pakistan. "This mindset of placing doubt on our soldiers while shielding Pakistan shows the Congress' low thinking and anti-national attitude," he alleged. BJP MP Bansuri Swaraj said Chidambaram's comments were "deeply shameful", especially given his stature as a former home minister. Speaking to PTI Videos, she pointed out that Prime Minister Narendra Modi had declared the start of the Monsoon Session a celebration of Operation Sindoor's success. "And yet, someone like P Chidambaram gives such a should be ashamed," she said. (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
17 minutes ago
- Mint
EM Hedge Funds Eye Safeguards as World-Beating Rally Blooms
(Bloomberg) -- Hedge funds dedicated to emerging-market debt are increasingly turning to risk-mitigating strategies to ensure they lock in double digit gains as a broad rally in developing nation assets deepens. After a banner first half of the year, hedge funds targeting EM debt have returned nearly 13% on an annual basis — more than their peers positioned in any other asset class, according to data based on Bloomberg indexes. The latest global financial flows data shows the asset class remains thriving and the extra yield investors demand to hold the sovereign debt of developing nations over US Treasuries just hit a 15-year low. Such tight pricing, along with uncertainty over US policies and global conflicts, is pushing hedge funds to curb risks as they ride the historic rally. The funds do this by swapping longer-maturity bonds in their portfolios for less risky shorter-dated ones. They also focus on higher-rated debt and the most-liquid securities while keeping an ample cash pile. 'Do you just want to be massively long on credit on these valuations? I'd say probably not,' said Anthony Kettle, who co-manages BlueBay Emerging Market Unconstrained Bond Fund with Polina Kurdyavko and Brent David. 'Having a little bit of dry powder evidently makes sense, and also running elevated cash levels.' To be clear, Kettle said, there's still a 'decent environment' to gain additional returns as funds become more selective and can profit from both rising and falling asset prices, unlike index-based investors. The $784-million BlueBay fund has returned 17% over the past 12 months. Investors have taken advantage of EM inflows stoked by increased interest for alternative assets amid US policy unpredictability, which has also weakened the dollar. While many developing countries have come out of distressed debt levels as sentiment improved, further risks include another Iran-Israel flare up and potential additional increases in US tariffs, including on the buyers of Russian energy. President Donald Trump's administration has caused a 'breakdown of the traditional safe haven correlations' by shaking up the post-Cold War world order, creating an 'unusual and unpredictable' environment, said Demetris Efstathiou, the chief investment officer of Blue Diagonal EM Fixed Income Fund. 'It is very hard to predict what they will do next with tariffs, and on top of that you have ongoing wars,' Efstathiou said. His fund is 'very conservatively' positioned with shorter-maturity bonds and he avoids weak credits to protect the portfolio in the event of a global slowdown and market downturn. He has increased holdings of AAA- and AA-rated EM sovereigns along with less-indebted countries with large domestic markets like Brazil, Turkey and Mexico. EM-dedicated bond funds have received $31 billion in inflows year-to-date, with positioning increased in each of the last 14 weeks as global markets recalibrate after an era of US dominance. A near-record $5.7 billion piled into the asset class in the week though July 23, according to EPFR Global data provided by economists at Bank of America Corp. For some, flows of such a magnitude signal that EM debt is already predicting the best-case scenario. The US and European Union agreed on a deal that will see the EU face 15% tariffs on most of its exports, including automobiles, to stave off a trade war. Following the deal announced on Sunday, EM debt mostly strengthened with local yields in emerging European nations such as Poland, the Czech Republic and Hungary declining. 'The market is now priced for a Goldilocks scenario with the risk of a severe recession receding significantly and expectations' of one or more rate cuts by the Federal Reserve, the $847 million Enko Africa Debt Fund said in a letter to clients. Managed by Alain Nkontchou, the Africa-specific hedge fund has returned 24% over the past year. Nevertheless, the expected volatility means that traditional buy-to-hold trades may not necessarily succeed and that hedge funds will prioritize holding more liquid assets to ensure an easier exit in case sentiment turns, according to ProMeritum Investment Management LLP, a $700-million fund that invests in developing markets outside China. 'Liquidity management will be critical in the second half of the year because of an unpredictable environment and geopolitical risks,' said Evgueni Konovalenko, managing partner and head of strategy at the firm. Such a focus is needed 'to take advantage of both short and long positions with sudden policy changes and a daily barrage of headlines.' --With assistance from Jorgelina do Rosario. (Updates with EU-US trade deal in the 13th paragraph.) More stories like this are available on


Mint
17 minutes ago
- Mint
Copper Rises to Start Pivotal Week Ahead of US Tariffs Deadline
Copper rose to kick off a critical week that includes a Federal Reserve meeting, a swathe of key economic data and the prospect of final details on imminent US tariffs on the industrial metal. The metal rose with other risk assets after the European Union and the US reached a deal that avoids a more catastrophic rupture between two major economies. The agreement comes ahead of a US-China meeting in Stockholm that's expected to extend a trade truce for 90 more days. Further important developments lie ahead this week. The Fed isn't expect to cut rates at the conclusion of its policy meeting on Wednesday, but its commentary will be scrutinized for clues on what comes next. There's also a deluge of US data from the latest on economic growth to jobs. But for copper, the most anticipated development should be the launch of US tariffs, the details of which are still unclear just days ahead of their start date. President Donald Trump's administration has said 50% levies on copper imports will start from this Friday, but hasn't so far confirmed important aspects of the duties. It's not clear which products will be covered, whether supplies from all nations will be hit equally, or how metal already on its way to US shores will be treated. Global traders have shipped massive amounts of copper to America to get ahead of tariffs, and Trump's announcement of an Aug. 1 deadline earlier this month triggered a last-minute scramble. Prices in the US are now much higher than those on the London Metal Exchange, but they don't fully reflect a 50% universal tariff rate on all exchange-traded copper. The premium now stands at about 31%. Copper rose 0.4% to $9,804 a ton on the LME as of 9:22 a.m. in London. Aluminum dropped 0.3% while zinc fell 0.7% and nickel was down 0.9% This article was generated from an automated news agency feed without modifications to text.