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As External Affairs Minister S. Jaishankar prepares for crucial talks with Russian Foreign Minister Sergey Lavrov in Moscow, India finds itself at the centre of a diplomatic storm. President Trump has unleashed his most aggressive economic assault on India in recent memory, wielding tariffs and sanctions as weapons to force New Delhi away from its Russian partnerships. The pressure campaign began in August 2025 with sweeping 25% tariffs on Indian exports, later doubled to 50% specifically targeting Russian oil imports. For a nation whose economic planners depend heavily on US markets, this represents a devastating blow. Nearly 70% of India's...

Treasury Secretary Scott Bessent on Tuesday accused India of profiteering from cheap Russian oil imports during the war in Ukraine, describing the practice as "arbitrage" and condemning it as unacceptable. "They are just profiteering. They are reselling," Bessent told CNBC's "Squawk Box" in an interview. "This is what I would call the Indian arbitrage — buying cheap Russian oil, reselling it as product." "They've made $16 billion in excess profits — some of the richest families in India," Bessent said.

The Kremlin confirmed that Russian leader Vladimir Putin was expected to meet with President Trump in the coming days, saying that the meeting was being planned for a location that would be named later. The Russian statement on Thursday came hours after Trump said there was a “good chance” he would meet with Putin. The idea was raised by Russia during a meeting between special envoy Steve Witkoff and the Russian leader on Wednesday. Witkoff relayed the idea to Trump. During the meeting with Witkoff, Putin provided “concrete examples” of Russia’s conditions for agreeing to peace, according to Secretary of...

The US has a better understanding of the conditions under which Russia would be prepared to end its war in Ukraine after President Donald Trump's envoy Steve Witkoff met with Russian President Vladimir Putin, Secretary of State Marco Rubio said on Wednesday. "For the first time perhaps since this administration began, we have some concrete examples of the kinds of things that Russia would ask for in order to end the war," Rubio said in an interview with Fox Business Network's Kudlow, adding that the key elements of any agreement would involve territory. He added that he doesn't know if...

A bilateral meeting between President Donald Trump and Russian President Vladimir Putin could happen as soon as next week, according to a White House official. White House special envoy Steve Witkoff returned from Moscow on Wednesday and relayed to President Trump that Putin would like to meet with him, the official said. In response, Trump indicated he is open to that if Putin also meets with Ukrainian President Volodymyr Zelenskyy, the official added. Witkoff met with Putin for several hours on Wednesday ahead of the Friday deadline imposed by Trump for Russia to agree to a ceasefire with Ukraine or...

US Trump talking to Ukraine's Zelenskyy hours after Putin-Witkoff meeting Both Axios and Reuters are reporting that US president Donald Trump is now speaking with the Ukrainian president, Volodymyr Zelenskyy.

U.S. President Donald Trump on Wednesday said his special envoy Steve Witkoff had made "great progress" in his meeting with Russian President Vladimir Putin, as Washington continued its preparations to impose secondary sanctions on Friday. Trump, in a post on Truth Social, said he had briefed some European allies about Witkoff's meeting with Putin, which was focused on ending the 3-1/2-year war that began with Russia's full-scale invasion of Ukraine in February 2022. "Everyone agrees this War must come to a close, and we will work towards that in the days and weeks to come," Trump added, without providing further...

Trump's imposition of additional tariffs is "unfair, unjustified and unreasonable", the Ministry of External Affairs said. Shortly after US President Donald Trump announced an additional 25% tariffs on India on Wednesday, the Indian Ministry of External Affairs issued a statement, noting that the country will "take all all actions necessary to protect its national interests." The additional import levies have been slapped by Trump to "penalise" India for its continued purchase of Russian crude oil. The MEA, in its statement, said India's imports are based on market factors and done with the "overall objective of ensuring the energy security of...

President Trump took executive action Wednesday to hammer India with an additional 25% tariff due to its continued purchases of Russian oil. The move, which will take effect Aug. 27, will increase the total US tariff rate on India to 50% and comes ahead of Trump’s Friday deadline for Russia to make peace with Ukraine or face secondary tariffs or sanctions — penalties on countries that continue purchasing energy from Moscow. “The actions and policies of the Government of the Russian Federation continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United...

By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, I hereby determine and order: Section 1. Background. Executive Order 14066 of March 8, 2022 (Prohibiting Certain Imports and New Investments With Respect to Continued Russian Federation Efforts To Undermine the Sovereignty and Territorial Integrity of...

United States President Donald Trump signed an executive order on Wednesday imposing an additional 25% tariff on India in response to its continued purchase of Russian oil. More to come...

-snip- According to Orbán, the fact that there is still no peace in Ukraine constitutes a serious economic disadvantage for Hungary, and he went on to explain why he thinks the situation has turned out this way. “I thought that the US president would be strong enough to get European leaders to toe the line, whether they liked it or not. And then everyone would have to dance to the same tune. But he wasn't strong enough. So I don't see the Russians or the Ukrainians being the problem, because things have always been this way with them, but rather...

Russian President Vladimir Putin finished his meeting with United States Special Envoy Steve Witkoff, Putin's press service said on Wednesday. The service did not reveal details of the meeting, which lasted around three hours. US President Donald Trump suggested that Witkoff's discussion with Putin will inform his decision on potential tariffs on countries buying Russian energy exports. Trump also set a deadline for agreeing on a ceasefire between Russia and Ukraine, which expires on Friday.

U.S. special envoy Steve Witkoff will be in Moscow on Wednesday to meet with Russian leadership, a source familiar with the plan said on Tuesday. Officials in Washington provided few details of Witkoff's schedule. "The president has noted, of course, that Special Envoy Witkoff will be traveling to Russia this week, so we can confirm that from this podium," State Department spokesperson Tammy Bruce told reporters. "What that will entail, I have no details for you." Russia's state-run TASS news agency, quoting aviation sources, said an aircraft believed to have Witkoff on board, had already left the United States.

Russia’s oil and gas revenues continued their steep decline in 2025, falling by 18.5% in the first seven months of the year compared to the same period in 2024, Russian Finance Ministry confirmed. Between January and July 2025, oil and gas revenues totaled 5.522 trillion rubles ($58.13 billion), reflecting a deepening contraction in one of the Kremlin’s most vital sources of income, Caliber.Az reports per Russian media. The figures illustrate a clear pattern of accelerating decline: revenue dropped by 3.7% in the first two months, by 10.3% over four months, and by 14.4% through May—culminating in a sharp 27% year-on-year...

The rift between Moscow and Washington looks set to deepen after U.S. President Donald Trump said Tuesday that Russia's economy "stinks" and that lower oil prices will hammer President Vladimir Putin's oil-funded war machine. "Putin will stop killing people if you get energy down another $10 a barrel. He's going to have no choice because his economy stinks," the president told CNBC's "Squawk Box." on Tuesday.

The Kremlin is reportedly set to offer concessions on the Ukraine war to U.S. President Donald Trump to avoid imminent sanctions on the country. Bloomberg detailed on Tuesday that one such proposal could include an air truce. Quoting Russian officials, it added that U.S. envoy Steve Witkoff's visit to Russia this week presents a chance to reach an agreement. The official is expected to go to the country as soon as Wednesday and could potentially meet with Putin. -snip- Bloomberg noted that despite Putin's willingness to continue fighting, two-thirds of Russians favor ending the war at the current positions. A...

Ukrainian President Volodymyr Zelenskiy said on Tuesday that he had had a "productive" conversation with his U.S. counterpart Donald Trump on ending the war, sanctions on Russia and the finalisation of a U.S.-Ukraine drone deal. Trump, who has signalled frustration with Vladimir Putin in recent weeks, has given the Russian president until August 8 to make peace in Ukraine or face tougher sanctions. "President Trump is fully informed about Russian strikes on Kyiv and other cities and communities," Zelenskiy wrote on X, referring to intensifying drone and missile attacks. Trump has threatened to hit Russia with new sanctions and impose...

Russian Foreign Ministry spokesperson Maria Zakharova slammed the new United States President Donald Trump's trade policy, describing it as an attempt to interfere in the internal affairs of other countries. "This US policy constitutes a direct violation of the national sovereignty of states, an attempt to interfere in their internal affairs, not to mention the fact that it generally leads to a slowdown in economic growth, damage to supply chains, and fragmentation of the global economy," the spokeswoman said in a statement. However, Zakharova noted that neither sanctions nor tariffs "can do anything with the natural course of history," stressing...

Russian Security Council Deputy Chairman Dmitry Medvedev blamed NATO's "anti-Russian" policy on Monday for Russia's formal withdrawal from its moratorium on deploying medium- and short-range missiles. "This is a new reality all our opponents will have to reckon with," Medvedev wrote on X, warning, "Expect further steps." His remarks followed a formal declaration by the Russian Foreign Ministry, confirming the end of the moratorium and suggesting more aggressive deployments may follow.