Latest news with #Russia-related
India Today
a day ago
- Business
- India Today
Will India be hit with a 500% tariff? Here's what we know
India has not yet been able to finalise a trade deal with the United States, even as the deadline for a new wave of tariffs set by President Donald Trump draws to a government official quoted by Reuters, a delegation from India is expected to visit Washington soon in a fresh attempt to break the deadlock over duties on auto components, steel, and farm products. These items have emerged as key sticking points in what has become a long and complex trade remains one of the few countries still in talks with the US at a time when the Trump administration is preparing to enforce steep new tariffs on imports from several nations starting August this year, a team of Indian officials travelled to the US for trade talks, but the visit ended without a breakthrough. Disagreements remained on sensitive areas like market access for American agricultural products and tariff reductions on high-value industrial COUNTRIES RECEIVE TARIFF LETTERS, INDIA STILL WAITINGMeanwhile, at least 14 other countries have already received formal letters from the US, notifying them of upcoming tariffs ranging from 25% to 40%. India has not received such a letter yet, an indication that negotiations are still alive, but time is running to the pressure is a bill that could bring even more drastic consequences for Indian Sanctioning Russia Act of 2025, a bipartisan bill introduced by Senators Lindsey Graham and Richard Blumenthal, aims to punish countries that continue to buy Russian oil and other energy products. The bill targets major importers like India and China and includes provisions for tariffs as high as 500%.While no such tariff has been imposed yet, the threat has created fresh concerns in New Delhi.'I'm looking. It's totally my option. They pass it totally at my option, and to terminate totally at my option. And I'm looking at it very strongly,' Trump told reporters during a Cabinet Bandyopadhyay, economist at Infomerics Valuation and Ratings, said the impact could be severe if such measures are put into effect.'The 500% tariff is an extreme step and its imposition will depend on the outcome of diplomatic discussions and trade talks. India's stance has been clear, our oil purchases are based on national energy security. These are long-term decisions made in the interest of the economy,' Bandyopadhyay added that India should strongly highlight these concerns during negotiations. 'The US itself continues to rely on Russian uranium for its nuclear plants. India must bring such facts to the table to argue for a more balanced approach.'EXPORT SECTORS AT RISK IF TALKS FAILBeyond the Russia-related concerns, Bandyopadhyay pointed out that failure to reach a broader trade agreement could put several key Indian sectors at risk. 'Exports of gems and jewellery, marine products, pharmaceuticals, electronics, and steel, all heavily dependent on the US market, could suffer significant losses,' he warned. 'If tariffs are reinstated or raised, Indian exporters could face losses of $7–10 billion.'Despite the challenges, there may still be a path forward. According to a Bloomberg report, the US is reportedly nearing an interim trade deal with India. If finalised, this deal could result in proposed tariffs being capped below 20%, a huge improvement compared to the sweeping hikes other countries are the deal goes through, India would become one of the few countries to receive trade concessions from the United States, even as Trump increases tariff pressure on many countries in Asia, the new tariffs already declared range between 20% for Vietnam and the Philippines and up to 40% for Laos and said that India has already made a generous offer in its talks with Washington.'India has proposed reducing the tariff gap with the US from 13% to below 4%. This includes zero tariffs on 60% of US imports and preferential access for 90% of American goods,' he return, India is seeking relief from proposed duties and better access for its labour-intensive exports such as textiles, shrimp, bananas, and grapes. But deep differences remain, especially in the agriculture and dairy sectors. The US has demanded lower tariffs on apples, nuts, and genetically modified crops, which India is hesitant to allow due to concerns from small farmers and political opposition at home.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by expert in this article are their own and do not reflect the views of the India Today Group.)- EndsTune InMust Watch
Gulf Insider
2 days ago
- Business
- Gulf Insider
Trump Teases 'Major Statement' On Russia Coming In Days
President Donald Trump has stated that America's NATO allies will be required to pay the full cost for US-made weapons while hinting that some of those arms may eventually be transferred to Ukraine. As is well known, Trump has long pushed European NATO members to take on greater defense const-sharing burden, and in new remarks given to NBC published Friday he said 'We send weapons to NATO, and NATO is going to reimburse the full cost of those weapons.' He emphasized, 'NATO is paying for those weapons, 100%.' He went on to preview that once the weapons are purchased by NATO allies, 'then NATO is going to be giving those weapons' to Ukraine. He described that the deal was struck in June at the NATO summit in the Netherlands: 'We're sending weapons to NATO, and NATO is paying for those weapons, 100%. So what we're doing is the weapons that are going out are going to NATO, and then NATO is going to be giving those weapons [to Ukraine], and NATO is paying for those weapons,' Trump said. Another very interesting part of the interview came when he teased a major Russia-related announcement planned for Monday. Could it be new sanctions, which Ukraine's Zelensky and others have been aggressively lobbying for? 'I'm disappointed in Russia, but we'll see what happens over the next couple of weeks,' Trump said. 'I think I'll have a major statement to make on Russia on Monday,' he added without elaborating. As for new weapons systems for Ukraine, a fresh Reuters report has said this could total up to $300 million in new arms. Alarmingly, the Pentagon has been running low on its own stockpiles, with Patriot missiles in particular in short supply and high demand, and slow to replace. Secretary of Defense Marco Rubio told reporters while in Malaysia this week of the Patriots, 'Well, the Spaniards have them. They're really far from Ukraine and they have one. The Germans have, others have them — I'm not singling them out, but I'm just telling you those are two that I know.' 'There are other Patriot batteries, and there are other opportunities,' he added. 'Countries that have ordered Patriot batteries that are about to receive shipments of them, it'd be great if one of them volunteered to defer that shipment and send it to Ukraine instead,' Rubio said. Rubio has been teasing a 'new' approach and potential strategy toward resolving the Russia-Ukraine war, after meeting with Russian Foreign Minister Sergei Lavrov this week.
OC Media
02-07-2025
- Politics
- OC Media
Azerbaijani media releases ‘evidence' of Russia shooting down AZAL plane amidst rising tensions
Sign in or or Become a member to unlock the audio version of this article Join the voices Aliyev wants to silence. For over eight years, OC Media has worked with fearless journalists from Azerbaijan — some of whom now face decades behind bars — to bring you the stories the regime is afraid will get out. Help us fuel Aliyev's fears — become an OC Media member today Become a member On Tuesday, the pro-government Azerbaijani media outlet Minval released purported recordings of Russian officer Dmitry Paliduchuk receiving orders to open fire on the Azerbaijan Airlines passenger jet that crashed in Kazakhstan in December 2024, killing 38 people. The alleged audio recordings, which were accompanied with a handwritten letter supposedly from Paliduchuk, were the clearest piece of evidence made public so far to corroborate Baku's claims that Russia was responsible for the deadly crash. Minval acknowledged it could not corroborate the authenticity of the material, but the Russian independent media outlet The Insider said it appeared to be authentic. Separately, the Azerbaijani Prosecutor General's office said that a criminal case had been opened in connection to the crash, and that the results of ongoing investigations should be revealed 'soon'. Baku has previously taken issue with the long delays from the Russian side regarding the investigation, as well as the preliminary findings not being relayed, which some in Azerbaijani media have said is a sign of disrespect. Arrests, accusations, and increasingly harsh criticism The release of the audio recordings came amidst a sharp deterioration in relations between Azerbaijan and Russia in recent days, spurred on by a mass police raid in Russia's Yekaterinburg that resulted in the deaths of two ethnic Azerbaijanis and the arrest of around 50 others. Baku has said that brothers Ziyaddin and Huseyn Safarov were beaten to death with 'extreme cruelty' by Russian law enforcement officers, backing up its allegations with reports from a medical examiner. In contrast, Russia has claimed that the Safarov brothers died of natural causes. Advertisement Tensions quickly escalated in the following days, with Azerbaijan issuing a formal complaint to Russia, cancelling all Russia-related cultural events, and arresting a number of Russian journalists accused of espionage. On Tuesday, Azerbaijani President Ilham Aliyev held a phone call with his Ukrainian counterpart Volodymyr Zelenskyi, where the two leaders discussed the deaths of the Safarov brothers, among other issues. I spoke with President of Azerbaijan Ilham Aliyev @presidentaz and thanked him for his support of Ukraine, our people, and our territorial integrity. I also expressed Ukraine's clear support in the situation where Russia is brutalizing Azerbaijani citizens and threatening the… — Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) July 1, 2025 Others, including Peter Michalko, the EU's ambassador to Azerbaijan, also weighed in on the issue. I am deeply concerned by the reports of violence, torture and inhuman treatment against ethnic Azerbaijanis in Russia, leading even to deaths, committed by Russian security forces. My thoughts are with the victims and their families. — Peter Michalko (@MichalkoPeter) June 30, 2025 In addition, also on Tuesday, Azerbaijani authorities said a group of Russian nationals had been arrested in the country on suspicion of drug trafficking and committing cyber crimes. Later in the day, Azerbaijan released photos of the detainees, many of whom showed visible signs of injuries, as well as footage of the heavily armed and masked police officers who carried out the raid. Popular Russian journalists and social media accounts quickly criticised the photos, with some calling it a 'dehumanising shitshow' and others claiming they were just random Russians — not criminals — who were arrested in Baku in order to stage a public 'humiliation' spectacle. After Russian criticism of the series of events perceived in Moscow as anti-Russian, the Azerbaijani Foreign Ministry released a statement calling on the Kremlin not to interfere in its domestic affairs. Other signs of a more systematic backlash against Russia in Azerbaijan also appeared, as unverified reports surfaced claiming that Russian-language schools would soon be shut down in the country. Later on Wednesday, the Azerbaijani Foreign Ministry officially summoned Russian Ambassador Mikhail Yevdokimov. Russia responds There was also a corresponding reaction in Russia, with more arrests of ethnic Azerbaijanis, including high-profile members of the diaspora. While the Russian government did not explicitly state the new wave of arrests was connected to the ongoing tensions, it was quickly viewed as a form of retaliation. And now Russian security forces are retaliating by detaining leading Azeri businessmen resident in Russia. — Yaroslav Trofimov (@yarotrof) July 1, 2025 At the same time, Russian propagandists expressed outrage at Baku's actions and urged an appropriate response. Television host Sergei Mardan wrote on his Telegram channel that 'Baku has always been a Russian city' in a message containing racist comments about Azerbaijanis. 'It's high time to think about the safety of navigation and oil extraction in the Caspian Sea', Mardan added. Vladimir Solovyov, one of the most well-known Russian propagandists, also appeared to threaten Azerbaijan on his television show. Amid rising tensions between Russia and Azerbaijan, Russian propagandist Solovyov, as he usually does, has begun threatening Azerbaijan. Relations between the two countries are rapidly deteriorating following ethnic raids in Russia and reciprocal detentions of Russians in… — WarTranslated (@wartranslated) July 2, 2025 Official representatives, such as Foreign Ministry spokesperson Maria Zakharova, took a slightly different approach, saying on Tuesday that 'friendly relations between our two nations are very important', but added that 'those who are seeking to disrupt them should think twice before acting'. Kremlin spokesperson Dmitry Peskov said that Russia would 'protect the legitimate interests of our citizens through diplomacy', and also sought to blame outside forces. Apparently referring to Zelenskyi's call with Aliyev, Peskov claimed that 'Ukraine will do everything possible to add fuel to the fire of this situation and provoke the Azerbaijani side into taking emotional action'. 'This is easy to predict. Russia has never threatened and does not threaten Azerbaijan', Peskov added.
OC Media
30-06-2025
- Politics
- OC Media
Baku's relations with Moscow plunge to new lows after alleged police killing of ethnic Azerbaijanis
Sign in or or Become a member to unlock the audio version of this article Join the voices Aliyev wants to silence. For over eight years, OC Media has worked with fearless journalists from Azerbaijan — some of whom now face decades behind bars — to bring you the stories the regime is afraid will get out. Help us fuel Aliyev's fears — become an OC Media member today Become a member State-run media outlet Azertac has written that two ethnic Azerbaijanis were killed during Russian law enforcement raids in Yekaterinburg, with several others seriously injured and nine people arrested. Following this, Baku cancelled a number of Russia-related events and raided the offices of Sputnik-Azerbaijan as relations seemed to plunge to a new low. On 27 June, Azertac reported that the raids were in connection to alleged crimes committed decades ago. The two men killed were identified as brothers, Ziyaddin and Huseyn Safarov. Later, on 28 June, the Chargé d'Affaires of the Embassy of Russia in Azerbaijan, Pyotr Volokov, was summoned to the Azerbaijani Foreign Ministry, which stated that it had lodged 'a strong protest' to the Russian side in response to the raids. The ministry added that it expects from Russia that 'the case will be investigated and all those responsible for the violence will be brought to the attention of the other side'. The Russian state-run media outlet TASS reported that on Sunday, a Yekaterinburg court remanded Ayaz Safarov, another brother and a defendant in murder cases from previous years, into custody. Safarov was among those arrested in the police raids. Another brother, Mazahir Safarov, was also one of those detained. The Russian media outlet wrote that the Safarovs and other defendants were allegedly part of an ethnic criminal group involved in a number of murders and attempted murders in Yekaterinburg in 2001, 2010, and 2011. 'Some suspects have already confessed and are cooperating with the investigation. Searches are being conducted at their places of residence. The issue of choosing a preventive measure in the form of detention is currently being decided', the media outlet wrote. Advertisement The bodies of Ziyaddin and Huseyn Safarov, who were reportedly brutally beaten to death, have been handed over to their relatives. The pro-government media outlet wrote that earlier, the Consulate General of Azerbaijan in Yekaterinburg reported that the bodies were taken from the morgue of the Yekaterinburg Bureau of Forensic Medicine. Deteriorating relations Baku has reacted strongly to the incident, which appears to further damage an already tense relationship with Moscow. Azertac noted that 'in response to the targeted and extrajudicial killings and acts of violence against Azerbaijanis based on their ethnicity', all cultural events planned in Azerbaijan involving Russian state and private entities have been cancelled. 'We sincerely regret the decisions taken', Kremlin spokesperson Dmitry Peskov said in response. Peskov added that Moscow believes that the measures taken by the Azerbaijani side are an 'exaggerated reaction' and that issues related to the actions of law enforcement agencies should not become a reason 'for such large-scale restrictions'. Peskov stressed that a separate conversation between Russian President Vladimir Putin and his Azerbaijani counterpart Ilham Aliyev on this matter was not planned. 'However, if necessary, such a dialogue can be organised in a short time. The Russian side declares its interest in continuing cooperation with Azerbaijan', Peskov said. Monday brought new developments in the deteriorating relations between Moscow and Baku, when Azerbaijani authorities raided the offices of the Russian state-run media outlet Sputnik-Azerbaijan in Baku, resulting in several detentions, two of whom were allegedly employees of Russia's Federal Security Service (FSB). In February, the Azerbaijani government ordered the suspension of the Sputnik-Azerbaijan, allowing one journalist to keep working in the country. Following this, Azerbaijani Ambassador to Russia Rahman Mustafayev was summoned to the Russian Foreign Ministry, which said it was 'in connection with Baku's unfriendly actions and the illegal detention of Russian journalists'.
Yahoo
24-03-2025
- Business
- Yahoo
Analysis-Rush to Russian assets belies 'permafrost' some investors fear
By Libby George, Karin Strohecker and Alexander Marrow LONDON (Reuters) - Large fund managers expect the bulk of Russia's assets to remain closed to Western investors, despite a flurry of "exotic" trades betting on a rapprochement between Moscow and Washington. The diplomatic thaw, ushered in by U.S. President Donald Trump's perceived openness to Russia's Vladimir Putin, has prompted bets on Russian-linked financial assets, including the rouble, Kazakhstan's tenge currency - a rouble proxy - and the bonds of Russian energy companies Gazprom and Lukoil. But rather than a gold rush back into Russia, which has been isolated from the global financial system since it invaded Ukraine in 2022, veteran players say they expect a longer-term hiving off of key parts of Russia's economy from foreign investors. "We see maybe some asset swaps," said Gunter Deuber, head of research for Austria's Raiffeisen Bank International - one of the few Western banks still operating in Russia. "There are still a lot of assets of Russia that are in the West and of the West that are in Russia. And I think having asset swaps is now a rather nice way to de-risk on both sides." Last week, Putin issued a decree allowing U.S. hedge fund 683 Capital Partners to buy securities in Russian companies from certain foreign stakeholders. But the order also authorised their future sale to two Russian funds, quashing hopes this indicated an impending reopening. RUSH TO POSITION Still, investors said there are increasing queries from brokers dealing in Russia-related assets. One of the favourites is roubles via non-deliverable forwards (NDFs) - derivatives traded and settled in dollars that shield investors from sanctions complications, although much like the rouble, their value is linked to Russia's economy. The rouble is the top performer among emerging currencies this year, having strengthened some 30% against the dollar. Data from UBS showed hedge funds betting on directional trends held $8.7 billion worth of rouble NDFs in early March, the second-largest long position across major currencies - indicating funds expect the currency to strengthen. These bets allow traders to cash in if Russia's markets surge amid a Trump/Putin rapprochement. "Investors can definitely try to get exposure to some end of sanctions without having some direct Ukrainian or Russian exposure," said Anton Hauser, senior fund manager with Erste Asset Management, calling the NDF trade "very niche". But for now - and for years to come, Hauser expects - Erste is unlikely to get involved, despite holding some sanctions-frozen local Russian currency bonds. "It's extremely exotic at the moment," he said. Analysts estimate the average daily volume in rouble NDF trade at $25 million to $40 million - a fraction of the $2-2.5 billion in daily pre-war rouble trading. POOR LIQUIDITY Investors said interest had also spiked for still-tradeable corporate hard-currency bonds issued by Russian firms - such as Gazprom, Lukoil and fertiliser company Phosagro. But poor liquidity means buyers demand a discount. "They still pay you coupons, but tradability is very, very poor," said Sergey Dergachev, portfolio manager at Union Investment Privatfonds. Hard-currency debt issued by Russian corporates was once an emerging market mainstay; the nearly $100 billion outstanding accounted for 4% of indexes in 2022, and international investors held roughly a fifth of that, according to JPMorgan calculations at the time. Proxy trades have also strengthened since Trump's return, including the sovereign bonds and currencies of Uzbekistan and Kazakhstan - Russian neighbours with closely linked economies. Investors say brokers in Central Asian, Middle Eastern and Latin American nations with access to Russia's domestic markets - and deemed "friendly" by the Kremlin - have increased offers of Russian-related trades. Brokers say investors, including U.S. and European distressed asset managers, are more interested in exposure to Russia's still-sanctioned rouble-denominated OFZ bonds, even though sanctions on Russia's National Settlement Depository and Moscow Stock Exchange MOEX mean direct ownership is impossible. Ararat Mkrtchian, CEO of Armenian broker Sirius Capital, said yields of around 15% are enough to spark interest in domestic government bonds despite the hefty losses many foreign investors suffered when sanctions took effect. "In general, there is a desire from foreign capital to return because this is a highly depreciated but high-quality financial asset - if you forget about politics," said Mkrtchian. EUROPE VS UNITED STATES A growing gap between Europe's approach to Russia and that of the United States under Trump could complicate hopes to trade sanctioned assets, such as Russian government bonds, more actively. "The friendliness that we see on the highest levels between Washington and Moscow doesn't exist between most European leaders and the Kremlin," said Petar Atanasov, Gramercy Funds Management's co-head of sovereign research. While Trump has held direct talks with Putin, Europe is now making its largest defence spending push since World War II and has doubled down on sanctions. And one of the biggest obstacles is Russian law: Amid the sanctions onslaught, Moscow passed laws restricting asset ownership and trading by parties in "unfriendly" countries. This combination has transformed Russia's economy, with a much larger state role, said ProMeritum Investment Management's Pavel Mamai, and there are no clear signs yet Moscow is willing to open up again. "I don't believe that the Russian market and the international market will be merged again in short future." Sign in to access your portfolio
