Business
‘Aggressive economic leverage’: JD Vance says Trump applied secondary tariffs on India to force Russia to stop war; ‘harder for Russians to…’ – Times of India
US Vice President JD Vance has said that Donald Trump applied secondary tariffs on India to force Russia to stop the war with Ukraine. Calling it ‘aggressive economic leverage’, Vance said that the measure would make it difficult for Russia to get richer by selling its crude oil.Vance indicated that US President Donald Trump has utilised strong economic measures, including ‘secondary tariffs on India’ as pressure tactics to halt Russia’s military operations in Ukraine.The Trump government has consistently expressed disapproval of India’s purchase of discounted Russian oil. However, it is notable that Washington has refrained from criticising China, despite it being the primary purchaser of Russian oil.
Trump’s pressure tactics on Russia – JD Vance explains
During an exclusive conversation with NBC News’ “Meet the Press”, Vance expressed that these measures would diminish Russia’s ability to profit from its petroleum exports.According to a PTI report quoting NBC News, Vance expressed optimism about America’s capability to facilitate peace between Russia and Ukraine, despite certain complications arising after President Trump’s recent discussions with Russian President Vladimir Putin.Also Read | ‘We have red lines…’: Jaishankar’s clear message on India-US trade deal; slams ‘sanctions’ on Russia oil, says ‘if you don’t like it, don’t buy it’“We believe we’ve already seen some significant concessions from both sides, just in the last few weeks,” Vance said in the interview.When questioned by moderator Kristen Welker about the pressure on Russia in the absence of ‘imposing new sanctions’ and how to facilitate dialogue between Zelenskyy and Russia to halt the bombardment, Vance provided his perspective.He explained that Trump implemented ‘aggressive economic leverage’, including ‘secondary tariffs on India’, to try to make it harder for the Russians to get rich from their oil economy.”Vance elaborated that the message to Russia was clear: they could rejoin the global economy by stopping the war, but their isolation would persist if they continued their aggressive actions.
How has India reacted to US secondary tariffs?
India has consistently emphasised that its decisions regarding energy acquisition, including from Russia, are based on domestic requirements and market conditions.Following Trump’s decision to increase tariffs on Indian products to 50%, including additional 25 % duties on India’s Russian crude oil purchases, the relationship between New Delhi and Washington has deteriorated.Washington claims that India’s procurement of Russian crude oil is supporting Moscow’s military campaign in Ukraine, an accusation that India firmly denies.Also Read | Over 20% of Russia’s war-period crude exports! India bought about Rs 13.39 lakh crore in Russian oil; trails China’s Rs 193 billionFollowing Western nations’ sanctions on Moscow and their rejection of Russian supplies due to its Ukraine invasion in February 2022, India began purchasing discounted Russian oil.External Affairs Minister S Jaishankar on Saturday said, “It’s funny to have people who work for a pro-business American administration accusing other people of doing business.”This statement was in response to American criticism regarding India’s crude oil purchases.“That’s really curious. If you have a problem buying oil or refined products from India, don’t buy it. Nobody forces you to buy it. But Europe buys, America buys, so you don’t like it, don’t buy it,” Jaishankar said.
Business
Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Serial rail fare evader faces jail over 112 unpaid tickets
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
Business
JSW Likely To Launch Jetour T2 SUV In India This Year: Reports
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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