Enough nuke submarines to control 2 deployed by Trump, says Russian lawmaker
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Indian Express
9 minutes ago
- Indian Express
Company advised by Trump sons said it hoped to benefit from fed money, then took it back
A public document filed by a company that just hired President Donald Trump's two oldest sons as advisers included a sentence early Monday that said it hoped to benefit from grants and other incentives from the federal government, which their father happens to lead. But when The Associated Press asked the Trump family business about the apparent conflict of interest, the document was revised and the line taken out. Eric Trump and Donald Trump Jr. are getting 'founder shares' worth millions of dollars in New America Acquisition 1 Corp., a company with no operating business that hopes to fill that hole by purchasing an American company that can play 'a meaningful role in revitalizing domestic manufacturing,' according to the filing. The president has geared his trade policy toward boosting manufacturing in the U.S. The original version of the securities filing said the target company should be 'well positioned' to tap federal or state government incentives. That reference was taken out of the revised version. The Trump Organization didn't reply to a question about whether New America still planned to benefit from government programs or why the line was cut. But the outside law firm Paul Hastings that helped prepare the document sent an email to AP saying it was 'mistake' made by 'scriveners,' an old term for transcribers of legal papers. Kathleen Clark, an expert in government ethics, said any excuses are too late because the Trumps had already tipped their hand. 'They just deleted the language. They haven't committed not to do what they said earlier today they were planning to do,' said the Washington University law professor and Trump critic. 'It's an attempt to exploit public office for private profit.' New America is what's know as a special purpose acquisition company, or SPAC. It's a publicly traded company that exists solely to use its funds to acquire another company and take the target public. New America plans to raise money by selling new stock on the New York Stock Exchange at $10 a share. That will hand the two Trump sons a potential total of $50 million in paper wealth the moment the stock begins trading on the first day. The company hopes to sell enough shares to raise $300 million, which it then plans to use buying a yet unidentified manufacturer. A press release issued by New America saying it was focused on 'American values and priorities.' It made no mention of the aim to get government incentives. The filing to New America's potential new investors to the Securities and Exchange Commission was explicit about what it was looking for in a target company. It said, among other things, it wanted a company that can ride 'public policy tailwinds' by benefiting from federal or state 'grants, tax credits, government contracts or preferential procurement programs.'
Time of India
10 minutes ago
- Time of India
Why Trump's tariff move isn't likely to shake India's oil ties with Russia
Donald Trump has made a lot of noise about India's oil trade with Russia, calling it profiteering and threatening to 'substantially raise' tariffs on Indian goods. But New Delhi isn't blinking. As reported by TOI, a senior Indian government official put it plainly, 'We will go solely by the interest of our consumers and opt for the best option price-wise. If Russian crude works out cheaper than what we can get from other sources, why should we penalise our consumers?' The Centre has so far not made any move to wean off Indian oil refiners from Russian crude, which comes at a steep discount compared to purchases from west Asia or US. It has not just helped keep domestic pump prices lower, but also benefited European countries, which have been major buyers of diesel and jet fuel from India, sources told TOI. The economic logic is straightforward. Russian oil has been cheaper than what's available from West Asia or the US. India's refiners are not just cutting costs—they're helping stabilise fuel prices at home. And here's the kicker: Europe benefits too, as Indian refiners export refined fuels like diesel and jet fuel, some of which reach European markets. Trump's pressure tactics and the political showmanship Trump's frustration is spilling over into tariff threats. His core accusation? 'India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine .' He followed that with, 'Because of this, I will be substantially raising the Tariff paid by India to the USA.' No actual figures were given. But just last week, he'd already slapped a 25 per cent tariff on Indian goods and floated a possible jump to 100 per cent unless India stops buying Russian oil. Trump's new deadline is August 7. If Russia doesn't agree to a ceasefire in Ukraine, he's hinted at secondary sanctions on countries that continue trading energy with Moscow. That includes India, China, and Brazil. But these threats are running into hard economic and political realities. Why Russian oil imports still makes sense for India After the West sanctioned Moscow in 2022, Russia started offering deep discounts on its oil. That's when India stepped in. It now buys around 1.7 million barrels a day of Russian crude, according to Bloomberg data. India isn't just stockpiling it. In the first half of this year, it exported 1.4 million barrels a day of refined fuels. About 40 per cent of that was diesel or gasoil, and 30 per cent was petrol and blending components. Refiners blend multiple sources of crude before producing fuels, so it's not always clear which exports came from Russian barrels. But the volume speaks for itself. And the trade hasn't slowed down. Over the weekend, at least four tankers delivered millions of barrels of Russian crude to Indian ports. India pushes back: No apologies, no shift in strategy India's Ministry of External Affairs had a sharp response. 'The targeting of India is unjustified and unreasonable,' it said. 'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.' It also pointed out that the US and EU themselves continue to trade with Russia, even when there's no national compulsion. India's position has been consistent. The decision to buy Russian oil was triggered when traditional suppliers diverted their barrels to Europe. It was the US, in fact, that nudged India to continue those purchases—albeit within the G7's price cap. Energy Minister Hardeep Singh Puri told CNBC in July that the Russian crude trade helped global prices stay in check, saying India was advised by Washington to keep buying—'but within the price cap.' NSA Doval heads to Moscow National Security Adviser Ajit Doval is heading to Moscow this week. The visit is expected to offer clarity on how India plans to navigate what officials call a 'geo-economic trilemma': cheap energy, political pressure, and long-term security interests. India has not made any move to scale back Russian imports. If anything, officials are eyeing additional discounts in light of Trump's bluster. Even business circles in Delhi are calling out the former US president's rhetoric. A statement from trade research body GTRI summed it up, 'India's oil trade with Russia has taken place with full transparency and broad understanding with the US… Trump's decision to raise tariffs on India citing oil trade is not only unjustified—it ignores market realities, misrepresents trade data, and undermines a key strategic partnership in the Indo-Pacific.' The BRICS factor and Dollar alternatives This isn't just about oil. Trump has also slammed India's involvement in BRICS and the bloc's discussions around alternatives to the US dollar. He's claimed India has the 'most strenuous and obnoxious non-monetary trade barriers' and is using tariffs as leverage to open up Indian markets to US agriculture and dairy—an area where India has refused to budge. One official noted that despite discussions, India would not allow imports of genetically modified American corn and soybean. Nor would it revise its stand on farm and dairy tariffs, which Trump has repeatedly criticised. India's energy alternatives, but only if needed If forced to diversify, India could boost imports from Iraq, Saudi Arabia, the UAE, and the US. In fact, last week saw India's largest refiner suddenly snap up several million barrels from the US and UAE—moves widely interpreted as precautionary, not strategic shifts. India had, during trade talks, shown interest in ramping up imports of American gas, fertiliser, and defence equipment to improve the trade balance. But there are limits. Modi has refused to open up sensitive sectors like dairy, even as the US pushes hard. Trump and Modi were once seen as political allies. That relationship has cooled. The current standoff is the latest in a string of Trump-led escalations over oil, trade barriers, and foreign policy. From threatening to block access to US markets over India-Pakistan tensions, to taking credit for peace deals India denies happened, Trump's combative posture has worn thin in Delhi. His latest push threatening penalties on anyone still paying for Russian oil reflects growing frustration with Putin's unwillingness to compromise. Trump's nuclear submarine move last week, reportedly in response to Dmitry Medvedev's rhetoric, only adds to the volatility. But India, for now, isn't shifting course. As one Indian official summed it up, 'We are guided by what's best for Indian consumers, not what's best for Washington politics.' And that might be the line that defines this whole saga.
Time of India
26 minutes ago
- Time of India
Moscow ends missile pact, issues nuclear warning to US and NATO
On Monday, Russia declared it would no longer honor a self-imposed moratorium on the deployment of land-based intermediate-range nuclear missiles. This reversal, Moscow claims, directly responds to the United States and NATO 's intentions to place similar weapon systems in Europe and the Asia-Pacific region. The Russian Foreign Ministry accused the U.S. of heightening global risk by testing, producing, and deploying missile systems that were previously barred under the now-defunct Intermediate-Range Nuclear Forces (INF) Treaty. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The Intermediate-Range Nuclear Forces (INF) Treaty was a landmark arms control agreement signed by the United States and the Soviet Union in 1987. The treaty required both nations to eliminate and permanently forswear all land-based ballistic and cruise missiles with ranges between 500 and 5,500 kilometers. Its collapse in 2019 removed a crucial pillar of European security, opening the door for renewed missile deployments and escalating tensions between NATO and Russia. Russia cited the recent deployment and testing of such missiles in Denmark, the Philippines, and Australia as signal events, arguing that these actions pose a 'direct threat' to Russian national security. In response, the Kremlin announced it would take unspecified 'military-technical' measures aimed at restoring what it calls a strategic balance with the West. The developments come against the backdrop of intensified public threats and diplomatic maneuvers. Former Russian President Dmitry Medvedev, issued an implicit warning: "The Russian Foreign Ministry's statement on the withdrawal of the moratorium on the deployment of medium- and short-range missiles is the result of NATO countries' anti-Russian policy . This is a new reality all our opponents will have to reckon with. Expect further steps." Live Events Trump had also publicly ordered the repositioning of two U.S. nuclear submarines 'in the appropriate regions' in response to Medvedev's provocative statements earlier this month. Despite attempts at de-escalation, the Russian Ministry confirmed that Russia's nuclear doctrine 'remains in effect' and warned that all its provisions are still applicable. This follows the U.S. administration's stated intention to supply advanced weapons and support to Ukraine, which Russia claims crosses several of its declared 'red lines.' The war of words has been accompanied by troop movements and military exercises. Recent weeks have seen joint Russian-Chinese naval drills in the Sea of Japan and fresh warnings from President Trump, who threatened new, unspecified sanctions against Russia should Moscow refuse to meet his deadline for a Ukraine ceasefire. Trump also said he is prepared to impose 'secondary sanctions' on China and India if they continue to buy Russian oil—a blow to the Russian economy, which currently allocates around 40% of its budget to military and security spending. Meanwhile, Trump's diplomatic envoy, Steve Witkoff, is scheduled for another round of high-stakes talks in Moscow in an effort to broker a ceasefire—a prospect some observers remain skeptical about, given Russia's maximalist demands and continued military actions in Ukraine.
