Full Meeting: Lavrov Speaks In English, Stuns West With Asia Move Putin Political Party Conf
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The Hindu
30 minutes ago
- The Hindu
Russia says captured three settlements in Ukraine's east
The Russian army said Wednesday (August 20, 2025) it had captured three villages in eastern Ukraine, claiming fresh territorial gains despite U.S.-led peace efforts and a flurry of diplomacy to end the conflict. Also Read | Russian attack on Poltava shows Putin does not want peace, Ukraine says Russia's Defence Ministry said on Telegram its troops had "continued to advance deep into the enemy defences" in the embattled Donetsk region, taking the villages of Sukhetske and Pankivka. They are near a section of the front where the Russian army broke through Ukrainian defences last week, between the logistics hub of Pokrovsk and Kostiantynivka. In the neighbouring central-eastern Dnipropetrovsk region the Russian army said it had captured the village of Novogeorgiivka. Moscow's troops first entered the region — previously spared from fighting — in July. These latest advances come amid accelerated efforts by the U.S. and European leaders to broker a peace deal that would end the offensive, now in its fourth year. U.S. President Donald Trump said his Russian counterpart, Vladimir Putin, had agreed to meet the Ukrainian leader and accept some Western security guarantees for Kyiv. These promises were met with caution in European capitals. According to three sources familiar with a Monday call between Mr. Trump and Mr. Putin, the Russian leader proposed holding the summit with Volodymyr Zelensky in Moscow — an idea rejected by the Ukrainian President.
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Business Standard
30 minutes ago
- Business Standard
India, Eurasian Economic Union sign terms to launch trade negotiations
India and the Eurasian Economic Union (EEU), comprising Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan, on Wednesday signed the terms of reference (ToR) to launch negotiations on a free trade agreement (FTA). Russia, the largest member of the EEU bloc, is also India's biggest trading partner within it, accounting for more than 92 per cent of total trade. The announcement comes amid strained relations between India and the US, with Washington turning up the pressure on New Delhi by imposing additional import tariffs. The move is aimed at curbing India's trade, particularly oil imports, with Russia. The new tariffs, set to take effect next week, are seen as America's attempt to tighten the screws on Moscow and hasten an end to the three-year-long Russia–Ukraine conflict. FTA talks with the EEU are also being launched at a time when India has been unable to finalise an interim trade deal with the US. Uncertainty hangs over the next round of negotiations after US President Donald Trump doubled tariffs on Indian goods to 50 per cent, including an extra 25 per cent duty on India's imports of Russian crude. The ToR was signed by Ajay Bhadoo, additional secretary in the Department of Commerce, and Mikhail Cherekaev, deputy director of the Eurasian Economic Commission's trade policy department. Both sides also discussed the next steps to formally launch the process, including organisational aspects of the proposed trade pact. Trade between India and the EEU stood at $69 billion in 2024, up 7 per cent from a year earlier. Discussions on an FTA have been underway for more than two years. 'With a combined gross domestic product of $6.5 trillion, the proposed FTA is expected to expand market access for Indian exporters, support diversification into new sectors and geographies, enhance competitiveness against non-market economies, and deliver wide benefits to micro, small and medium enterprises,' the commerce department said. The ToR sets the framework for negotiations and is expected to unlock untapped trade potential, increase investment flows, and establish a stronger India–EEU economic partnership. Both sides reaffirmed their commitment to an early conclusion of the agreement and to building a long-term institutional framework for trade cooperation. Last year, India and Russia set an ambitious target of raising bilateral trade to $100 billion by 2030, up from the current level of more than $65 billion.
Mint
30 minutes ago
- Mint
India moves closer to FTA with Eurasian bloc amid strained trade talks with US
New Delhi: India has finalized terms for free trade agreement (FTA) talks with the Eurasian Economic Union (EAEU) as New Delhi steps up efforts to expand its trade partnerships amid strained relations with the US. The terms of reference (ToR) were signed in Moscow by Ajay Bhadoo, additional secretary in the Department of Commerce, and Mikhail Cherekaev, deputy director of the Trade Policy Department of the Eurasian Economic Commission (EEC). The EAEU comprises Armenia, Belarus, Kazakhstan, Kyrgyz Republic and Russia, with a combined GDP of $6.5 trillion. During the visit, Bhadoo also called on Andrei Slepnev, minister in charge of trade at the EEC, where both sides reviewed the milestone and discussed the next steps for the negotiation process. India's trade turnover with the EAEU touched $69 billion in 2024, up 7% from the previous year. The proposed FTA is expected to open up new opportunities for Indian exporters, particularly among micro, small, and medium enterprises (MSME) and the pharmaceuticals, engineering goods, and agriculture sectors. It will also help New Delhi reduce its reliance on markets where trade tensions are rising, the ministry said. 'By fast-tracking an agreement with the EAEU, India is signalling its intent to diversify supply chains and strengthen partnerships with friendly economies at a time when tariff-related frictions with the US threaten to disrupt a large share of its exports,' said Abhash Kumar, trade economist and assistant professor, economics, Delhi University. 'The FTA could unlock untapped trade potential, boost investments, and build a durable institutional framework for cooperation. Both sides have reaffirmed their commitment to the early conclusion of the agreement,' the ministry said. Russia has long been India's key and trusted partner. Recently, US President Donald Trump imposed an additional 25% tariff on Indian goods as a penalty for New Delhi's continued purchases of Russian oil, bringing the total duty on Indian goods to 50%, among the highest in the world. Russian supply accounts for close to 40% of India's total crude oil imports, and Washington has accused New Delhi of 'profiteering' from the discounted prices. India's trade with the EAEU remains modest at present, but the potential is significant. Russia alone is a major supplier of energy, fertilizers, and defence equipment, while India has strong export prospects in pharmaceuticals, machinery, textiles, and agricultural products across the bloc. Market access through an FTA will open up opportunities for Indian companies in sectors such as information technology (IT) services, engineering goods, and processed food, where demand in EAEU economies is rising, a commerce ministry official said.
