City Moscow Financial News

India's strong leadership made it possible for G20 leaders to reach consensus in intense discussions on a summit message urging nations to shun use of force in territorial disputes, a senior European Union official said on Sunday. For weeks before the New Delhi meeting, the bloc struggled to agree on a reference to the Ukraine conflict, with the West pressing for Moscow to be called out for its invasion, while Russia vowed to block any resolution not reflecting its views. "(The) Indian presidency has been very strong and after intense negotiations, the unanimous outcome was quite productive," said the official, who was aware of the G20 talks, but sought anonymity. «Without India's leadership it would not have been possible,» he added, referring to the summit declaration. The declaration adopted by the Group of 20 on Saturday, when it began the two-day summit, avoided condemning Russia for the war in Ukraine but urged all states not to use force to grab territory. The bloc's leaders also called for implementation of the Black Sea initiative for the safe flow of grain, food and fertiliser from Ukraine and Russia. The EU official, however, said there was not a single word on the Black Sea grain deal from Russia, which finds itself more isolated after the summit. «Russia should have participated, with President Putin sitting down at the table and listening to the criticism from European and global leaders,» the official said, adding, «But he has chosen not to come and participate.» The official said, «The European Union leadership made the points very strongly during the session.

Russia launched an air attack on Kyiv early on Sunday, with blasts ringing out across the Ukrainian capital and its region for almost two hours and drone debris falling on several of the city's central districts, Ukrainian officials said. Ukraine's Land Forces said that the country's air defence systems destroyed 25 out of 32 Russia-launched Iran-made Shahed drones, most of which targeted Kyiv and the Kyiv region. Reuters witnesses heard at least five blasts across Kyiv, and Ukrainian media footage showed a number of cars damaged. «Drones came onto the capital in groups and from different directions,» Serhiy Popko, head of Kyiv's city military administration, said on the Telegram messaging app.Kyiv Mayor Vitali Klitschko said that one person was injured in the historic Podil neighbourhood and a fire broke out near one of the city's parks. Debris from downed drones fell on the Darnytskyi, Solomianskyi, Shevchenkivskyi, Sviatoshynskyi and Podil districts, Klitschko and the city's military administration said. In the Shevchenkivskyi district, drone debris sparked a fire in an apartment, which was quickly extinguished. There were no immediate reports of injuries, Popko said on the Telegram messaging app. There was no immediate comment from Russia about the attacks.

Russia needs to replenish its supplies of ammunition for what could be a long war of attrition. Along with ramping up its domestic arms production, Moscow is turning to an old ally with a vast arsenal — North Korea. Estimates say the reclusive and isolated Asian country has tens of millions of artillery shells and rockets that could give a huge boost to the Russian army. United States officials expect North Korean leader Kim Jong Un to visit Russia in the coming days to seal a possible deal on munitions transfer with President Vladimir Putin.

COVID-19 pandemic and the economic disruption which has derailed progress towards the SDGs (sustainable development goals)," the document reads. However, there were different views and assessments regarding the impact of the Ukraine war. The leaders also called on Russia to revive the Black Sea grain deal, which allowed movement of food grains from the ports of Russia and Ukraine.

Russia-Ukraine crisis, India worked very closely with Brazil, South Africa and Indonesia. I want to say that it was the emerging markets which played a very key role. There was very tough, very ruthless negotiations for several days non-stop," said India’s G20 Sherpa Amitabh Kant during a press briefing.

AFP. Referencing the 'war in Ukraine', the New Delhi Leaders Summit Declaration said that 'all states' should 'refrain from the threat or use of force to seek territorial acquisition against the territorial integrity and sovereignty or political independence of any state'. Unlike in a G20 statement in Bali last year, there was no explicit reference to Russia in the Delhi Declaration. In 2022, a UN resolution condemned in the strongest terms the aggression by the Russian Federation against Ukraine.

Narendra Modi during a session on Saturday. “Through the hard work of our teams, and through the cooperation of you all, we have reached agreement on the New Delhi G20 Leaders Summit Declaration. I propose that we adopt this New Delhi Leaders Declaration," Modi said, addressing his counterparts at a session.

Russia said on Saturday it was sticking to its conditions for a return to the Black Sea grain deal which it quit in July. In particular, Kremlin spokesman Dmitry Peskov said Russia needed its state agricultural bank — and not a subsidiary of the bank, as proposed by the United Nations — to be reconnected to the international SWIFT bank payments system. «All our conditions are perfectly well known. They do not need interpretation, they are absolutely concrete and all this is absolutely achievable,» Peskov said. «Therefore Russia maintains its responsible, clear and consistent position, which has been repeatedly voiced by the president.» The Black Sea deal was brokered by Turkey and the United Nations in July 2022 to enable Ukraine to export grain by sea despite the war and help ease a global food crisis. It was accompanied by an agreement to facilitate Russia's own exports of food and fertiliser, which Moscow says has not been fulfilled.

Group of 20 nations have hammered out compromise language on Russia’s invasion of Ukraine, overcoming differences between Moscow and the rest of the group that had threatened to derail hopes of a joint communique from this weekend’s summit. The phrasing is broadly similar to that agreed at last year’s summit in Bali, Indonesia, according to people familiar with the discussions. They asked not to be identified to describe internal deliberations. The language still must be approved by G-20 leaders, but that’s seen as likely now that senior staff have agreed on the language, they said. The US and its allies had sought tougher phrasing than the Bali compromise to denounce what they see as Russia’s aggression, while Moscow wanted to weaken the reference — and for a time enjoyed the support of China.

North Korea invited visiting Chinese delegates and Russian artists to a paramilitary parade featuring rocket launchers pulled by trucks and tractors, state media said Saturday, in leader Kim Jong Un's latest effort to display his ties with Moscow and Beijing in the face of deepening confrontations with Washington. The event in the capital, Pyongyang, which began Friday night to celebrate North Korea's 75th founding anniversary that fell on Saturday, came amid expectations that Kim will travel to Russia soon for a meeting with President Vladimir Putin that could focus on North Korean arm sales to refill reserves drained by the Kremlin's war on Ukraine. While China has sent a delegation led by Vice Premier Liu Guozhong to the North Korea's anniversary celebrations, Russia sent a military song and dance group. South Korean media speculated that the lack of Russian government officials at the festivities in Pyongyang could be related to preparations for a summit between Kim and Putin, which Washington expects within the month.

New Delhi: UK prime minister Rishi Sunak, who is attending the G20 Leaders’ Summit in India, will announce measures to alleviate the impact of the Russian blockade of Ukrainian grain supplies that has caused a global spike in food prices. “Once again, (Russian president) Vladimir Putin is failing to show his face at the G20.

G20 Summit: The world leaders are in New Delhi for the 18th G20 Summit which will begin on 9 September. US President Joe Biden and Prime Minister Narendra Modi held a bilateral meeting on Friday and soon the minutes of the meeting will be out. One of the major questions around the G20 Summit will be about the New Delhi declaration and as per Indian officials, the declaration is almost finalized.

Rishi Sunak said on Friday that it was not his place to tell India what position it should take on Russia's war in Ukraine, in an interview to news agency ANI. «It's not for me to tell India what positions to take on international issues, but I know India rightly cares about the international rule of law, the UN Charter and respect for territorial integrity,» Sunak said when asked about India's stance. India has avoided blaming Moscow for the war and has called for a solution through dialogue and diplomacy.

ALSO READ: G20 Summit: EU expresses concern over draft joint communique on Ukraine issue “I don’t know if this is possible or not to have an agreement on a final communique, we will see. But we will defend our principles and will also support the efforts made by India," HT quoted Michel as saying when asked about the possibility of the Ukraine crisis holding up a leaders’ declaration.

The United States' decision to provide Ukraine with depleted uranium weapons has Russia fuming, labelling it as a "criminal act." This decision by the US has heightened tensions in the ongoing Ukraine crisis, and it raises concerns about the environmental and security implications. The Pentagon, the US defense department, announced a new security aid package worth up to $175 million for Ukraine. This package includes depleted uranium ammunition specifically meant for US Abrams tanks.

Joe Biden leaves for the G20 in India on Thursday, aiming to boost alliances at a summit where global tensions will be highlighted by the absence of the leaders of China and Russia. Biden will try to show that on big transnational issues, Washington is a better partner than Beijing or Moscow -- and that the G20 remains a key forum.

MOSCOW (Reuters) — A lawyer for Goldman Sachs argued in a Moscow court on Thursday that a $6.3 million lawsuit against it by Russia's Otkritie Bank should be heard instead in London.

A federal judge in Boston has sentenced a wealthy Russian businessman with ties to the Kremlin to nine years in prison for his role in a nearly $100 million insider trading scheme that relied on stolen company earnings information hacked through U.S. c...

With Russian foreign minister Sergey Lavrov insist... moreWith Russian foreign minister Sergey Lavrov insisting that his country will block any G20 summit declaration that doesn't reflect Moscow's views on Ukraine and other crises.

Treasury Secretary Janet Yellen is facing growing skepticism from some leading rich and developing nations as the residual impact of sanctions against Russia is deepening divisions among the Group of 20 countries

G20 Summit being held in India. However, Washington has also highlighted the problems that could lead to the G20 Summit ending without a joint communique. G20 Sherpas are trying to work together on ironing out a final declaration that will be adopted by PM Narendra Modi and other world leaders over the weekend, reported ANI.