Ukraine Financial News

Russian President Vladimir Putin has endorsed a bill that raises income taxes for the rich

Indians working in the Russian army after Prime Minister Narendra Modi raised the issue with President Vladimir Putin during his Moscow visit on Monday night, a development that observers described as a diplomatic victory for India. At least four Indians have died fighting the Ukraine war. Around 61 Indians are believed to be serving in the Russian army. The PM raised the issue at a private dinner hosted by Putin on Monday evening, said people familiar with the matter.

But he added that, if his resignation is refused, he was ready to remain in office «as long as duty demands», with the Paris Olympics due to begin in three weeks.

Joe Biden on Tuesday announced a historic donation of air-defence equipment for Ukraine and said Russia is failing in this war. Welcoming leaders of NATO member countries for the historic summit on the occasion of its 75th anniversary, Biden said the United States, Germany, the Netherlands, Romania and Italy will provide Ukraine with the equipment for five additional strategic air-defence systems. In the coming months, the US and its partners intend to provide Ukraine with dozens of additional tactical air-defence systems, he said, adding that the US will make sure that when «we export critical air-defence interceptors, Ukraine goes to the front of the line». «They will get this assistance before anyone else gets it. All told, Ukraine will receive hundreds of additional interceptors over the next year, helping protect Ukrainian cities against Russian missile and Ukrainian troops facing air attacks on their front lines,» Biden said.

press conference after the disastrous June 27 presidential debate, Joe Biden once again made similar mistakes, for which he has been slammed in the past and asked to step aside. The press conference which was seemingly arranged to show that there is nothing wrong with him, proved to be counter-productive. Replying to the very first question, he called his Vice-President Kamala Harris "Vice-President Trump". He could not understand the mistake he had committed, his top Cabinet secretaries remained stone-faced in the front row of the audience while some reporters in the room murmured in surprise.

Mint. During the height of the Ukraine war, in July 2022, the Reserve Bank of India said that it would put in place an additional arrangement for invoicing, payment and settlement of exports and imports in rupees. The RBI’s move was aimed at promoting trade in rupees and to help ease settlements with Russia.

Ukrainian President Volodymyr Zelenskyy says he expects the upcoming NATO summit to provide specific steps to strengthen his country’s air defenses against Russia

The perfect European, or so the sarcastic quip goes, should drive like a Frenchman, cook like the Dutch, be as organised as the Greeks and as humorous as a German. A variant of the joke might haunt those trying to devise the perfect ally for Ukraine as it fends off Russian aggression. Imagine a country the size of Latvia, with the budget problems of the hard-up Italians, the willingness to pitch in of Kremlin-loving Hungarians and the arms industry of neutral Ireland.

The second round of the high-stakes legislative election on Sunday will almost certainly impact how much say France's president has in the fields of defense and foreign affairs

Indian imports rose to 42% in June from 37% in May and was more than the combined share of the next four largest suppliers, according to energy cargo tracker Vortexa. Crude imports from Russia jumped 13% in a month to 1.92 million barrels per day (mbd) in June. Russia's share in Indian imports exceeded the combined share of Iraq (16%), Saudi Arabia (8%), the UAE (8%) and the US (7%). Supplies from Iraq dropped 22% in a month to 754,000 barrels per day (bpd) in June and imports from Saudi Arabia fell 36% to 386,000 bpd. Supplies from the US, however, rose 63% to 330,000 bpd.

Mint examines this question and more. The Shanghai Cooperation Organisation (SCO) was formed in 2001. It evolved from an earlier avatar known as the Shanghai Five, comprising Russia, Kazakhstan, Kyrgyzstan, Tajikistan and China.

Vladimir Putin on Friday endorsed a bill that raises income taxes for the rich, part of efforts to help fill government coffers during the fighting in Ukraine. Putin signed the bill into law two days after it was approved by both houses of parliament. The legislation, which envisages a progressive tax on personal income, is a major change from the flat-rate tax that was widely credited with improving revenue collections after it was introduced in 2001.

Modarres military base and the Khojir missile production complex near Tehran, as reported by Reuters. Key Sites and Developments The imagery from Planet Labs shows structures surrounded by large dirt berms, which are typical for missile production to prevent explosions from spreading. Jeffrey Lewis from the Middlebury Institute of International Studies at Monterey noted that construction at Khojir began in August last year, while Modarres' expansion started in October.

The German government has announced an agreement on its budget for 2025 and a stimulus package for Europe’s largest economy, easing a monthslong squabble that threatened to upend Chancellor Olaf Scholz’s center-left coalition

Vladimir Putin said that he may be forced to use nuclear weapons if the existence of his country is threatened, the specter of nuclear war has been haunting the US. It has increased with escalating the Russia- Ukraine War and mounting China-US pressure over Taiwan and the South China Sea. Amid these disturbing scenarios, a map has been released showing the potential targets in the US if a nuke war gets triggered. As many as 90 cities have found a place in the map, that may disturb not only their residents but also defense experts and the military.

nuclear weapons have been well documented by the Hiroshima-Nagasaki bombings. What happens when nuclear weapons orbit the earth from space? This question has assumed importance since Russia launched the Cosmos 2553 satellite in 2022, just before its invasion of Ukraine. Presently, no one with the exception of Russia knows what exactly this satellite does. A member of the US Congress recently highlighted a pressing national concern. Many took this as a warning regarding the Cosmos 2553. The consequences are terrible and the US has been working towards the adaption of a resolution in the UNSC against the weaponization of space.

Narendra Modi landed in Russia for a visit on Monday and Tuesday — the first time in five years. He’s expected to hold talks with President Vladimir Putin to help re-energize relations between the two countries and likely deliver strategic deals. Russia and India are likely to agree on a long-term uranium supply pact for a nuclear power plant coming online in Tamil Nadu, said senior officials with knowledge of the matter. During the visit, India and Russia are also expected to sign an agreement allowing the military to use each other’s facilities for training, port calls and humanitarian assistance and disaster relief operations, said the officials who asked not to be named due to the sensitivity of the matter.

Estonia’s ruling center-right Reform Party has chosen Climate Minister Kristen Michal to replace outgoing leader Kaja Kallas as prime minister of the Baltic country

diesel exports to Europe surged fourfold in June over the previous month as refiners profited from better margins available in the continent. Indian refiners exported 119,400 barrels per day of diesel to Europe in June, up from 24,500 barrels per day in May, according to energy cargo tracker Vortexa. However, India's overall diesel exports fell 4% to 482,400 barrels per day. Europe alone received a quarter of India's diesel shipments. Supplies to Asia fell 10% to 107,800 barrels per day last month, with nearly 30% cut seen in shipments to other markets including Africa.

The global oil market has been roiled over the last several years. The demand shock during the pandemic, gradually evolving demand dynamics due to the electric vehicle (EV) transition, disruption of tanker movements following the Israel-Hamas war and economic sanctions against Russia, in interaction with supply responses to these events, have impacted international oil prices, trade flows and investments. Emerging clean energy technologies and more widespread efficiency policies and techniques are combining to slow down growth in oil demand.

France had held an early parliamentary election that could bring the country’s first far-right government since Nazi occupation during World War II