President Trump threatens to impose a 10% tariff on countries aligning with BRICS anti-American policies. This follows BRICS criticism of increased tariffs. Trump also announced tariff letters to various countries.
United States President Donald Trump has warned that countries aligning with the BRICS economic bloc will face additional 10 per cent tariffs on their goods, as he seeks to protect the dollar's global dominance.
The Enforcement Directorate has reported a staggering 170 per cent surge in asset attachments, reaching 81,422 crore in the last financial year (FY26), underscoring its intensified efforts against financial crimes and its significant role in restituting funds to victims.
Vietnam is an emerging regional power and a closer relationship with Hanoi is closely aligned with Prime Minister Narendra Modi's Act East Policy, points out Dr Rajaram Panda.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
China defended the BRICS economic alliance, stating it is not a bloc for confrontation, after former US President Donald Trump threatened tariffs on countries aligning with its 'anti-American policies'.
Chinese Foreign Minister Wang Yi has called on India and China to view each other as partners rather than rivals, emphasising the importance of cooperation for regional stability and development.
India's handling of the Iran crisis reflects a growing strain between strategic autonomy and geopolitical alignment, observes Ambassador M K Bhadrakumar.
President Donald Trump on Tuesday claimed that BRICS was established to "hurt" the US and "degenerate" the dollar as he warned that the member countries of the bloc would face a 10 per cent tariff. Trump made the remarks while talking to reporters at the sixth Cabinet meeting at the White House.
External Affairs Minister S Jaishankar has engaged in multiple conversations with his Iranian counterpart to secure safe passage for Indian merchant vessels through the Strait of Hormuz amidst escalating tensions in West Asia.
The Indian embassy in Tehran has earlier stated that it is facilitating the safe movement of nationals who wish to leave Iran.
Lavrov's comments came two days after Russia accused the US of attempting to prevent India and other countries from buying Russian oil, saying Washington was using a wide range of 'coercive' measures, including tariffs, sanctions and direct prohibitions.
Former White House trade advisor Peter Navarro has criticised India for continuing to procure Russian oil, alleging profiteering and contributing to the Russia-Ukraine war. India defends its energy procurement as driven by national interest and market dynamics.
Despite a 21 per cent minimum wage hike in parts of Uttar Pradesh, factory workers in India, particularly in states like Uttar Pradesh and Haryana, continue to experience wages below the national average and a widening disparity compared to supervisors and managers.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
The formulations in the declaration in reference to terrorism is going to be to our "satisfaction", Dammu Ravi, secretary (economic relations) in the external affairs ministry said on Monday.
Instead, Chinese Premier and Xi's confidant Li Qiang will take part in the summit to be held on July 6-7 in which Prime Minister Narendra Modi was expected to take part.
One of the most uncivilised characteristics of this war has been the total disregard for international law and the laws of armed conflict, asserts Vice Admiral Biswajit Dasgupta (retd).
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian, condemning attacks on critical infrastructure in West Asia and emphasising the importance of safeguarding freedom of navigation and ensuring secure shipping lanes.
To be sure, Trump is furious, as the trajectory of the war is in a state of Zugzwang, as chess players call it. Trump and Netanyahu stare at two choices -- retreat in humiliation and concede Tehran's demands -- recognition of its rights, reparations, and binding security guarantees -- or perish in a quagmire, points out Ambassador M K Bhadrakumar.
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian to discuss the escalating tensions in West Asia, emphasising the safety of Indian nationals and the need for regional stability through dialogue and diplomacy.
United States President Donald Trump has once again held out the threat of tariffs to BRICS (Brazil, Russia, India, China, South Africa) nations if they try to replace the US Dollar with any other currency.
If the Iranian regime needs to be punished for promoting quasi-terrorist outfits like Hezbollah and Hamas, then what about Pakistan which has spent decades exporting terror around the world, killing thousands, particularly in Afghanistan and India? asks M R Narayan Swamy.
We know in our heart that speaking the truth on this stupid Iran war will anger Trump and so we look the other way because if we look him in the eye the bully will straighten us out, asserts Aakar Patel.
Israel and the United States had a plan. Iran punched back. And now the Gulf is reeling, the world is beginning to feel the pain and, as on date, no one in Washington or Tel Aviv appears willing to admit that the punch has landed, notes Prem Panicker, continuing his must-read blog on the war in the Middle East.
Cuban Ambassador to India Juan Carlos Marsan Aguilera strongly condemned the US military operation in Venezuela, calling it a 'criminal act' and a 'terrorist act'. He emphasized the need for global unity to counter US unilateral actions and highlighted India's pivotal role in the evolving geopolitical landscape.
Sonia Gandhi has criticised the Modi government's silence on the assassination of Iran's Supreme Leader, arguing it raises doubts about India's foreign policy direction and credibility.
Lavrov said that the US has set itself the objective of 'achieving economic domination', adding further to it that Americans want to control the routes to leading countries to provide its energy sources to them.
'To suddenly give the impression of taking a position that is hostile to Iran, or, at least, not friendly to Iran, is not a good thing.'
Chinese Foreign Minister Wang Yi stated that China mediated tensions between India and Pakistan, a claim disputed by India which maintains that the matter was resolved bilaterally.
'I suspect that Bangladesh being given permission stuck in India's official craw, and this story was an attempt to balance the scales by giving the impression that a similar waiver had been given to India as well.'
India supports dialogue and diplomacy and not war, Prime Minister Narendra Modi said at the Brazil, Russia, India, China, South Africa (BRICS) Summit in Kazan, Russia on Wednesday, in an unambiguous message calling for resolution of the Russia-Ukraine conflict through peaceful negotiations.
President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said even for BRICS, there are internal differences about bringing out an alternative to the US dollar.
'After the Galwan clash, the rules of engagement changed with the army commanders allowed to use any means at their disposal as they deem fit for tactical operations.'
China's foreign ministry on Monday parried questions on a possible meeting between Prime Minister Narendra Modi and President Xi Jinping on the sidelines of the BRICS summit in Russia this week.
In a joint declaration issued after the 16th BRICS Summit in the Russian city of Kazan attended by Prime Minister Narendra Modi and Chinese President Xi Jinping, among others, the leaders reiterated unequivocal condemnation of terrorism in all its forms and manifestations while reaffirming that it should not be associated with any religion, nationality, civilisation or ethnic group.
The 16th Brics Summit beginning Tuesday in Kazan, Russia, is expected to see more focus on creating a sharper energy policy for Brics that ensures closer partnership among members in both energy security and energy transition, official sources said. The same is expected to be a part of the Kazan declaration, currently being negotiated, they added.
Chief Economic Adviser V Anantha Nageswaran on Wednesday said that the country is not pursuing any proposal to replace the US dollar as international currency for global trade. "No, certainly not. I think India is not part of any such initiative," he said in response to a question if India is looking at an alternative currency to the US dollar for global trade.
'No, India and China were not about to go to all-out war over a few rocks of Galwan.' 'The full picture of what went on at the highest level between two heads of State will not be known for a very, very long time and rightly so,' points out Colonel Anil A Athale, former head of the history division, ministry of defence.
