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Hindustan Times
5 days ago
- Business
- Hindustan Times
Vladimir Putin offers arms control to help rebuild US-Russia ties
Russian President Vladimir Putin signaled his intention to start work on a new arms control treaty with the US a day before a summit with Donald Trump that's expected to focus on ending the fighting in Ukraine and restoring economic ties. Russian President Vladimir Putin (R) and US President Donald Trump shake hands before a meeting in Helsinki on July 16, 2018.(AFP) An agreement on the control of strategic offensive weapons can 'create long-term conditions for peace between our countries and in Europe and in the world as a whole,' Putin said Thursday at a Kremlin meeting with senior officials, including his finance minister and central bank chief, ahead of his Friday talks with the US leader in Alaska. Putin tried to press Trump during his first presidential term to agree to an arms deal but had little success. While Russia has been open to resuming nuclear talks with the US since last year, officials said in June that worsening relations with the US had led to fading chances for a new pact to replace the last such treaty with the US, which expires early next year. 'Putin's aim is to divorce the issue of the war from bilateral relations including strategic and economic ones,' said Alexander Kolyandr, a London-based senior fellow at the Center for European Policy Analysis and former strategist at Credit Suisse Group AG. 'The topic of business, energy and financial sanctions seems to be equally if not more important for Putin.' With the Kremlin's invasion of Ukraine now in its fourth year, Russia this month said that it no longer considers itself bound by a moratorium on the deployment of ground-based intermediate and shorter range missiles. Putin said in December that he planned to deploy his country's Oreshnik intermediate-range ballistic missile in Belarus in the second half of 2025. The Russian leader suspended participation in the New START nuclear treaty in 2023, though Moscow pledged to continue complying with its terms until the accord's expiration. Russian Security Council Secretary Sergei Shoigu later said that negotiations on a new accord would have to cover issues including NATO expansion, the US global missile-defense system, and the deployment of ground-based missiles. Putin heads to Alaska accompanied by economic officials, as well as his defense and foreign ministers, after Trump signaled he was looking to downplay expectations for a full peace deal at the summit. The US president has warned Moscow that he is ready to impose 'very severe consequences' if Putin didn't agree to a ceasefire in Ukraine. Still, Putin praised the US for making 'quite energetic and sincere efforts' to stop the fighting in Ukraine. European allies have expressed concern that the US president — who has said an eventual deal would include territorial exchanges — could unilaterally agree to peace terms proposed by Putin that would disadvantage Ukraine and undermine the continent's security. Moscow is demanding that Ukraine cede its entire eastern Donbas region as well as Crimea, which Putin's forces illegally annexed in 2014, as a condition to unlock a ceasefire and enter negotiations over a lasting settlement, Bloomberg previously reported. Following a call with European leaders, Trump said he hoped to use the Friday summit with Putin to set up a 'quick second meeting' with Ukrainian leader Volodymyr Zelenskiy. Treasury Secretary Scott Bessent said Thursday that the Anchorage meeting is the precursor for a second round of talks. Trump and Putin will also discuss bilateral economic cooperation at the talks, Yuri Ushakov, the Kremlin's top foreign policy aide, said Thursday, according to Tass. Ushakov will accompany the president to Alaska, where the two leaders may hold a joint news conference. Alongside foreign and defense ministers, it will also include Finance Minister Anton Siluanov and Kirill Dmitriev, Putin's representative for international investment and economic cooperation — a lineup which suggests the parties may also discuss potential business ventures following the top-level talks.
Mint
19-06-2025
- Business
- Mint
Ex-Credit Suisse Banker Skips Prison for Aiding US Case
A former Credit Suisse Group AG banker who admitted to his role in a $2 billion fraud and money-laundering scheme avoided prison Wednesday after cooperating with the government. Surjan Singh testified at two US trials in Brooklyn, New York, tied to what became known as the tuna bond scandal for its dubious maritime projects, including a fishing fleet in Mozambique that triggered a financial crisis in the African nation. The nation's former finance minister Manuel Chang was convicted at a trial and sentenced in January to 8 1/2 years in prison for his role in the scheme. Singh also testified at an earlier trial against a shipping executive, who was acquitted. US District Judge Nicholas Garaufis cited Singh's help to the government investigation as a reason to not impose any prison term upon him. 'I saw first-hand Mr. Singh's testimony,' the judge said. 'I find he was candid, direct, measured and thoughtful.' Singh had faced between 46 months to 57 months in prison. A Brooklyn jury in 2024 found Chang guilty of engaging in a wire fraud conspiracy and a second scheme to launder money. The panel also found he pocketed $7 million in illegal kickbacks and, in return, prosecutors said Chang agreed to approve and guarantee $2 billion in loans to state-owned entities in Mozambique. While funds were intended to fund three maritime projects, evidence showed Chang and his co-conspirators diverted more than $200 million in loan proceeds to pay bribes and kickbacks to bankers and Mozambique officials. Singh was accused of pocketing $5.7 million in kickbacks. Singh was is the last of three former Credit Suisse bankers who pleaded guilty to taking millions of dollars in kickbacks. Andrew Pearse, who was Singh's boss and served as the government's star witness at both trials, also avoided prison. A third banker, Detelina Subeva, pleaded guilty but did not testify. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
17-03-2025
- Business
- Bloomberg
Ex-Credit Suisse Client Pleads Guilty to Hiding Money From IRS
A Brazilian-American businessman became the second former Credit Suisse Group AG client to plead guilty within the last week to hiding millions of dollars in assets from US tax authorities. Dan Rotta, wearing a beige jumpsuit, entered his plea Monday in federal court in Miami. As part of his plea, the 78-year-old said that Credit Suisse bankers knew he was a US citizen, but helped him conceal assets from the Internal Revenue Service.
Bloomberg
10-03-2025
- Business
- Bloomberg
Ex-Credit Suisse Client Pleads to Hiding $90 Million From IRS
A former Credit Suisse Group AG client pleaded guilty to a tax evasion conspiracy in which she and family members concealed $90 million from the Internal Revenue Service through undeclared accounts in Switzerland, Israel, Andorra and Panama. Gilda Rosenberg, a Florida businesswoman, admitted Monday in Miami federal court that she conspired to defraud the US, evade taxes and fail to file foreign bank account reports, also known as FBARs. Her family held about 15 accounts at Credit Suisse — now owned by UBS Group AG — between 1979 and 2013, according to a 27-page statement of facts in the case.
