Indian experts have dismissed U.S. President Donald Trump’s repeated claims that India is making “massive profits” from discounted Russian oil, calling the allegation “political theatre, not economic reality.” A new CLSA report has been cited that debunks the so-called “windfall” narrative. The study shows India’s actual savings from Russian crude are around $2.5 billion annually, far lower than the $25 billion figure Trump has touted.
MODI, ZELENSKY HOLD TALKS AHEAD OF SCO SUMMIT; INDIA BACKS PEACE EFFORTS
Prime Minister Narendra Modi spoke by phone with Ukrainian President Volodymyr Zelensky on Saturday, ahead of the upcoming Shanghai Cooperation Organisation (SCO) summit. The two leaders discussed the ongoing Russia-Ukraine conflict, its humanitarian fallout, and efforts to restore peace. Modi reaffirmed that India fully supports all initiatives aimed at ending hostilities and bringing stability.
MODI ARRIVES IN CHINA FOR SCO SUMMIT AS US-INDIA TIES STRAIN
Prime Minister Narendra Modi arrived in Tianjin, China on Saturday to attend the Shanghai Cooperation Organisation (SCO) Summit (Aug 31–Sept 1), a visit carrying implications well beyond the forum itself. With U.S.-India ties deteriorating under Trump’s steep tariffs, New Delhi now appears to be edging closer to Beijing—Washington’s strategic rival. Analysts warn this shift could reshape regional alignments, with Asia’s two biggest economies potentially moving from cautious de-escalation toward deeper trade and security cooperation.
WHITE HOUSE BLAMES EUROPE FOR STALLING TRUMP’S UKRAINE PEACE PUSH
Senior White House officials believe that while some European leaders are publicly backing President Donald Trump’s push to end the Ukraine war, they are quietly undermining progress behind the scenes, according to an Axios report. Frustrated aides argue that Europe is dragging its feet on critical steps, including possible sanctions on Russia. The Biden administration has already asked the Treasury Department to draft options for Europe, such as a full oil and gas import ban and secondary tariffs on India and China, mirroring those already imposed by Washington.
GUTERRES PRAISES CHINA’S ROLE IN MULTILATERALISM, CRITICIZES U.S. APPROACH
UN Secretary-General Antonio Guterres, welcomed by President Xi Jinping in Tianjin ahead of the SCO Summit 2025, offered a veiled critique of the United States while praising China’s commitment to multilateralism. Guterres warned that the current state of multilateralism was “under fire,” noting, “We see new forms of policy that are sometimes difficult to understand… sometimes more like a show than serious diplomacy, where business and politics seem mixed.”
