Putin Refuses To Comment On Khamenei Assassination Talk, Backs Political Solution
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India Today
an hour ago
- India Today
Illegal: Russia's biggest oil producer slams EU sanctions on India's refinery
Rosneft, Russia's biggest oil producer, condemned the European Union's sanctions on Nayara Energy, an Indian oil refinery partly owned by Rosneft. The company called the EU's move "unjustified" and "illegal," warning that these restrictions threaten India's energy security and could hurt its EU announced the sanctions on Friday as part of its 18th package of restrictions against Russia, targeting its oil trade to pressure Moscow over the Ukraine invasion. Nayara Energy, located in Gujarat, processes crude oil and is partly owned by Rosneft, which holds 49.13% of the refinery. The EU's goal is to cut Kremlin revenues by limiting Russia's crude exports to countries like said in a statement that Nayara Energy is an "important asset" that ensures a steady supply of petroleum products to India's domestic market. Rosneft also clarified that it holds less than half of Nayara and does not control the company, which is run by an independent board. The company called the EU's reasons for the sanctions "far-fetched and false." It pointed out that Nayara is an Indian legal entity focused on developing its assets and reinvesting profits to grow the refinery and its petrochemical Energy runs a large refinery with a capacity of 400,000 barrels per day and owns nearly 7,000 fuel outlets across India. It is also working on a new petrochemical plant near its refinery to expand its production REJECTS EU SANCTIONSIndia's Ministry of External Affairs (MEA) has also criticised the EU sanctions. MEA spokesperson Randhir Jaiswal said that India "does not subscribe to any unilateral sanction measures" and reaffirmed that India only recognises sanctions decided within the United Nations framework."We have noted the latest sanctions announced by the European Union. India does not subscribe to any unilateral sanction measures. We are a responsible actor and remain fully committed to our legal obligations," Jaiswal said in a statement posted on BLAMES EU FOR VIOLATING INTERNATIONAL LAWRosneft accused the EU of ignoring international law and interfering with the sovereignty of third countries like India. The Russian oil giant called the sanctions part of a broader attempt to destabilise global energy markets and create unfair ownership of Nayara Energy is shared between Rosneft and the Indian investment group SPV Kesani Enterprises, along with other retail investors. Reports suggest Rosneft is looking to exit the Indian venture because sanctions have made it difficult to send its earnings out of said it expects Nayara to protect the interests of its shareholders and customers. It also said that Russia and India's governments would support the company in dealing with these challenges.- EndsWith inputs form AgenciesMust Watch
Deccan Herald
2 hours ago
- Deccan Herald
Russian rouble weakens against US dollar after fresh EU sanctions
The Russian rouble weakened against the U.S. dollar and China's yuan on Friday after the European Union agreed on its 18th package of sanctions against Russia over its war in Ukraine, which included measures against the Russian energy industry. As of 1245 GMT, the rouble was 0.8% lower at 78.70 per U.S. dollar, according to data compiled by LSEG, based on over-the-counter quotes. The rouble is up about 45% against the dollar since the start of the year. The rouble, insulated from global financial flows by Russian currency controls and Western sanctions, remained strong despite a change in the attitude of U.S. President Donald Trump toward Russia in recent weeks. Analysts said the new EU sanctions will have little impact. The rouble is receiving support from more foreign currency sales by the central bank. "Sanctions will increase pressure on the Russian economy, but their effect may be limited. Russia will continue to reorient its exports towards Asia," Russian Agricultural Bank analysts said in a research note. The EU will set a moving price cap on Russian crude at 15% below its average market price, but Russia has so far managed to sell most of its oil above the previous price cap as the current mechanism makes it unclear who must police its implementation. The last time the rouble took a hit from Western sanctions was when the U.S. imposed sanctions on Gazprombank, which handled Russia's energy trade, in November 2024. The rouble rallied against all major currencies early this year, in large part due to hopes for a U.S.-mediated peace deal with Ukraine, which have since evaporated.
Economic Times
2 hours ago
- Economic Times
USA-Russia war may happen due to Donald Trump, Vladmir Putin?
Live Events FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel U.S. President Donald Trump gave Moscow a 50-day deadline to agree to a ceasefire or face tougher sanctions. Kremlin spokesman Dmitry Peskov said on Sunday that Russia is open to peace with Ukraine, but achieving its goals remains a priority. Peskov and other Russian officials have repeatedly rejected accusations from Kyiv and its Western partners of stalling peace talks. Meanwhile, Moscow continues to intensify its long-range attacks on Ukrainian cities, launching more drones in a single night than it did during some entire months in 2024, and analysts say the barrages are likely to President Vladimir Putin 'has repeatedly spoken of his desire to bring the Ukrainian settlement to a peaceful conclusion as soon as possible. This is a long process, it requires effort, and it is not easy,' Peskov told state television in an interview. 'The main thing for us is to achieve our goals," he said. 'Our goals are clear.'The Kremlin has insisted that any peace deal should see Ukraine withdraw from the four regions that Russia annexed in September 2022, but never fully captured. It also wants Ukraine to renounce its bid to join NATO and accept strict limits on its armed forces — demands Kyiv and its Western allies have his nightly address on Saturday, Ukrainian President Volodymyr Zelenskyy said that his officials have proposed a new round of peace talks this week. Russian state media on Sunday reported that no date has yet been set for the negotiations, but said that Istanbul would likely remain the host threatened Russia on July 14 with steep tariffs and announced a rejuvenated pipeline for American weapons to reach Ukraine, hardening his stance toward Moscow after months of frustration following unsuccessful negotiations aimed at ending the war. The direct Russia-Ukraine negotiations in Istanbul resulted in several rounds of prisoner exchanges but little U.S. president said that he would implement 'severe tariffs' unless a peace deal is reached within 50 days. He provided few details on how they would be implemented, but suggested they would target Russia's trading partners in an effort to isolate Moscow in the global addition, Trump said that European allies would buy 'billions and billions' of dollars of U.S. military equipment to be transferred to Ukraine, replenishing the besieged country's supplies of weapons. Included in the plan are Patriot air defense systems, a top priority for Ukraine as it fends off Russian drones and were recently raised about Trump's commitment to supply Ukraine when the Pentagon paused shipments over concerns that U.S. stockpiles were running Ukraine's air force said that it shot down 18 of 57 Shahed-type and decoy drones launched by Russia overnight into Sunday, with seven more disappearing from women were wounded in Zaporizhzhia, a southern Ukrainian region partly occupied by Russia, when a drone struck their house, according to the regional military administration. Two more civilians were wounded in Ukraine's northeastern Kharkiv province, after a drone slammed into a residential building, local Ukrainian officials Sunday, drones struck a leafy square in the center of Sumy, wounding a woman and her 7-year-old son, officials said. The strike also damaged a power line, leaving around 100 households without electricity, according to Serhii Krivosheienko, of the municipal military Russia's Defense Ministry said that its forces shot down 93 Ukrainian drones targeting Russian territory overnight, including at least 15 that appeared to head for Moscow. At least 13 more drones were downed on the approach to the capital on Sunday, Mayor Sergei Sobyanin said. One drone struck a residential building in Zelenograd, on the outskirts of Moscow, damaging an apartment, but caused no casualties, he said.A1. President of Russia is Vladimir Putin.A2. President of USA is Donald Trump.
