On Cam: Putin Reveals 'Master Plan' To Fight Back Trump's 'Russian Oil Strike'; 'If They Cut Off...'
Russian Deputy Foreign Minister Sergey Ryabkov clarified that BRICS nations don't aim to replace the US dollar, but rather seek alternatives for mutual settlements to circumvent US sanctions. He stated BRICS intends to trade in national currencies, with Russia already conducting 90% of payments with partners in local denominations. This counters US President Trump's concerns and threats of tariffs on BRICS countries, who are also developing "BRICS Pay," a decentralized blockchain payment system for cross-border transactions.
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Business Standard
18 minutes ago
- Business Standard
Russia suspends sunflower oil duty till end of August to boost exports
Russia, one of the world's top producers and exporters of sunflower oil, on Friday suspended floating duty rates on sunflower oil and sunflower meal until August 31 to boost exports and help local producers. The export duty was introduced in 2021 in order to protect the domestic market from price spikes and was set at 4,739 roubles ($59.61) per ton of sunflower oil in July. "At present, the domestic market is fully supplied with sunflower oil. Therefore, the suspension will not affect the availability of sunflower oil for Russians," the government said in a statement. According to the US Department of Agriculture, Russia and Ukraine produce over half of the world’s sunflower seeds and are responsible for nearly three-quarters of total sunflower oil and meal exports. IKAR consultancy head Dmitry Rylko estimated that Russia exported 4.7 million tons of sunflower oil in the 2024/25 season, which will end on August 31, compared with a record 5.3 million tons in the previous season. "We expect some revival in exports," Rylko told Reuters. He estimated that Russia will export 350,000 tons in August. IKAR forecasts this year's sunflower seed harvest at no less than a record 18 million tons. Russian lobby group Oil and Fat Union estimates that Russia is the world's leading producer of sunflower oil and the second largest exporter after Ukraine. Russia exports sunflower oil to India, Turkey, Iran, China and Egypt. It exports sunflower meal, used in animal feed, to Turkey, Belarus, China and the European Union. Russia's sunflower oil production became unprofitable in 2024 due to rising domestic prices for seeds. Several plants across Russia stopped operations as a result. Exports fell by 38 per cent in the first half of 2025, according to customs data, which does not take into account trade with sanctioned countries such as Iran. Head of the Oil and Fat Union Mikhail Maltsev said that the duty suspension for the remainder of the season will help exporters clear their stockpiles. "In the new season, we hope the market will stabilise and that procurement prices for sunflower seeds will once again make exports economically viable for processing plants," Maltsev said.
Hindustan Times
18 minutes ago
- Hindustan Times
‘I never went to that island': Trump makes big statement amid Epstein allegations, points finger at Bill Clinton
President Donald Trump vehemently urged media outlets to stop investigating his suspected ties to late pedophile financier Jeffrey Epstein and instead focus on accusations against one of his predecessors. FILE PHOTO: U.S. President Donald Trump gestures while boarding Air Force One, as he departs for Scotland, at Joint Base Andrews, Maryland, U.S., July 25, 2025. REUTERS/Evelyn Hockstein/File Photo(REUTERS) Trump spoke to reporters while leaving the White House for a trip to Scotland, where he owns three golf estates. When reporters questioned him about the Epstein Files, the US President again rejected the allegations of his involvement in the Epstein Files and blamed Bill Clinton. He even claimed that he never went to Epstein's private island Little St. James. 'You ought to be talking about Bill Clinton. Who went to the island 28 times. I never went to the island.' In response to a reporter's question about whether he wrote a letter to Epstein, Trump stated that he has no idea what they are talking about. 'Now, anybody could have written the letter and used my name. That's happened a lot.' Also Read: JD Vance slams WSJ for 'hit piece' on Trump, accuses it of 'acting like a Democrat SuperPAC' 'I'll give you a list': Trump tells reporters Todd Blanche, the president's former criminal defense lawyer who is presently the deputy attorney general, has been meeting with Epstein's convicted sex trafficker associate and girlfriend, Ghislaine Maxwell, who is currently serving a 20-year jail sentence in Florida for grooming young women and girls for sex trafficker Epstein. Blanche has interviewed Trump's associate in an attempt to calm Trump's supporters ire over the denial of records from Epstein's case. The President further stated that he did not have much idea about Maxwell's talks with Blanche, adding that he trusts him as a 'professional lawyer'. 'You know, you should focus on Clinton. You should focus on the president of Harvard, the former president of Harvard. He should focus on some of the hedge fund guys — I'll give you a list,' Trump said. He later stated that although he is 'allowed' to pardon Maxwell, he hasn't given it any thought. 'I'm allowed to do it, but it's something I haven't thought about.' Earlier this month, Trump dismissed that his name was mentioned in the documents. He further claimed that former presidents Barack Obama, Joe Biden, and James Comey, the former head of the FBI, 'made up' the Epstein Files.
Indian Express
18 minutes ago
- Indian Express
Trump says chances of EU trade deal are ‘50-50 or less'
US President Donald Trump said on Friday that the United States has a '50-50 chance' or possibly even less of reaching a trade deal with the European Union, although he believes the EU wants an agreement. 'We're working very diligently with Europe, the EU,' Trump told reporters as he left the White House for a trip to Scotland. 'I would say that we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU.' When asked again, he said, 'That's the big one right now … I think the EU has a pretty good chance of making a deal right now,' according to Reuters. The European Commission said on Thursday that a deal with the US was still possible, even as EU countries approved counter-tariffs on €93 billion (about $109 billion) worth of American goods if negotiations break down. The EU's main goal is to avoid the 30% import tariffs that Trump has said will take effect on 1 August if talks do not succeed. Trump said the EU would have to 'buy down' the tariff rate, though he did not give any details. Some EU diplomats believe a deal might involve a 15% tariff on EU goods entering the US, similar to an agreement the US reached with Japan. But the White House said such reports were speculative. The trade deal between the United States and Japan, announced earlier this week by Trump, may already be facing difficulties, with reports on Friday indicating disagreements over how to divide profits from Japan's planned $550 billion investment in the US. The deal includes a 15% reciprocal tariff on imported goods and was presented by Trump as a model for future trade agreements. But according to Reuters, Japan is pushing for profit-sharing based on investment contribution, while the US wants to retain 90% of the returns. Despite the tension, the agreement may have set a new benchmark for Washington's trade policy. Trump has said tariff rates will now range between 15% and 50%, with tougher trading partners facing the higher end of that scale. His 'Liberation Day' tariff plan in April had initially set a 10% base rate on all US trade partners. As part of his broader trade strategy, Trump said on Friday that formal letters detailing tariff rates for over 200 countries would be issued soon. He added that his administration was pushing to finalise trade agreements with key partners, including the European Union, India, and Canada. 'We haven't had a lot of luck with Canada,' Trump said, suggesting the US might go ahead with 35% tariffs on Canadian goods not covered by the USMCA trade deal, as reported by Fox news. Trump also said that talks with China were progressing. 'We have the confines of a deal,' he said, adding that US and Chinese negotiators are expected to meet again next week. Trump's trade adviser Peter Navarro told Bloomberg News that the EU's statements 'should be taken with a grain of salt'. It is not yet clear what the EU is willing to offer. One EU diplomat told Reuters that, unlike Japan, the bloc is not looking at promising investment in the US as part of the deal.
