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BYD proves resilience as China’s EV sector faces Western pressure

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BYD proves resilience as China’s EV sector faces Western pressure

Hong Kong — Shares of Chinese electric vehicle giant BYD slid as much as 8 percent on Monday after the company reported a sharp drop in quarterly profits, underscoring the deepening fallout from an intensifying price war in China’s auto industry.

The Shenzhen-based automaker said its net profit fell 30 percent year-on-year to 6.4 billion yuan ($900 million) between April and June. The earnings undershot analyst expectations, rattling investors who had anticipated modest growth.

BYD blamed the slump on “increased price competition,” a phrase that reflects the brutal battle now consuming the electric vehicle sector. Rivals including Nio, XPeng, and American carmaker Tesla have all slashed sticker prices to lure customers, forcing even market leader BYD into discounting strategies that eroded margins.

The company’s stock opened sharply lower in Hong Kong before regaining some ground later in the day. But the pressure from Beijing remains clear. China’s government, alarmed by the scale of price cuts, has warned automakers to stop the aggressive discounting, saying it risks destabilizing the wider economy.

The competition has become a test of survival. EV makers are subsidizing dealers and offering zero-interest loans, all while average car prices in China have fallen by nearly one-fifth over the past two years, industry data shows. Analysts warn this could lead to oversupply in the long run, even as Chinese brands ramp up exports to Asia and Europe.

Laura Wu, an industrial policy expert at Nanyang Technological University, said BYD’s performance shows that even dominant players “won’t necessarily win from a cut-throat price war.” She noted that the firm’s stock decline “signals investors’ disappointment” and reflects the unsustainable dynamics that government policy has yet to fix.

Despite headwinds, some observers see the setback as temporary. Judith MacKenzie, head of investment at Downing Fund Managers, described BYD’s meteoric growth as “so dramatic that it’s okay to have a bump in the road.” The company, after all, surpassed Tesla in annual revenue in 2024, leveraging its popular hybrids across China, Asia, and European markets.

BYD has set an ambitious target of selling 5.5 million cars globally this year. By the end of July, it had sold 2.49 million units, raising questions over whether it can hit its goal amid relentless competition at home.

The unfolding turmoil in China’s EV market, where profit margins are being sacrificed in pursuit of dominance, may reshape the global auto landscape. Industry experts warn that without a government-led consolidation of players, the sector risks burning itself out. According to the BBC, BYD’s stumble illustrates how even the strongest contender is not immune to the economic strains of China’s electric revolution.

Trump bends to China, betrays MAGA with 600,000 student visas

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Trump bends to China, betrays MAGA with 600,000 student visas

Washington — President Donald Trump on Sunday defended his abrupt reversal on Chinese student visas, insisting that granting entry to more than 600,000 students over the next two years was “the right thing to do,” even as voices within his own Republican base erupted in anger.

A right-wing outlet long considered sympathetic to Trump, the US president said it would be “insulting” to bar students from China, citing his personal relationship with Chinese President Xi Jinping and the financial benefits that Chinese tuition brings to smaller American universities.

“I think it’s very insulting to a country when you say you’re not going to take your students,” Trump said, stressing that Chinese students generate hundreds of millions of dollars in revenue for the American economy. He added, “It’s good to get along with countries, not bad, especially nuclear-powered countries.”

The remarks stand in sharp contrast to the hardline stance his administration promoted only months ago, when Secretary of State Marco Rubio vowed to “aggressively” revoke Chinese visas, particularly for students with ties to the Communist Party or those studying sensitive technologies. That rhetoric was framed within the broader context of Washington’s trade war with Beijing, a conflict triggered by Trump’s own tariffs.

The sudden policy reversal has enraged figures within the MAGA movement. Fox host Laura Ingraham accused the White House of displacing “600,000 spots that American kids won’t get,” while far-right activist Laura Loomer dismissed the students as “Communist spies.” Former strategist Steve Bannon and other hardliners have also questioned why Trump, who built his campaign on nationalist slogans, is now opening doors to what they see as a security risk.

Higher education leaders, however, welcomed the announcement. For many American universities grappling with declining domestic enrollment, international tuition, particularly from China, remains a vital source of funding. Analysts note that without these students, entire departments at smaller colleges could face closures.

Still, contradictions remain. Reports have surfaced of Chinese students being detained and deported at US airports, a signal that enforcement at the border does not yet match the softer rhetoric from the Oval Office. Critics say this reveals an administration attempting to court China diplomatically while still appeasing domestic hawks on national security.

According to Politico, the White House has since clarified that the figure of 600,000 does not represent an increase, but rather a continuation of student visa levels already issued in recent years. The gesture, while largely symbolic, underscores Trump’s growing reliance on transactional diplomacy with Beijing as he balances political pressure from within his party and the financial needs of America’s higher education system.

Putin’s ‘understandings’ with Trump on Ukraine conflict

Russia Desk
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Putin’s ‘understandings’ with Trump on Ukraine conflict

Tianjin — Russian president Vladimir Putin declared on Monday that he had reached “understandings” with US president Donald Trump during their Alaska meeting last month, raising fresh questions about the future of the Ukraine war.

Speaking at the Shanghai Cooperation Organisation summit in China, Putin praised Trump’s role in facilitating dialogue but stopped short of confirming whether he would accept Trump’s push for peace talks with Ukrainian president Volodymyr Zelenskyy.

The Kremlin leader suggested that the discussions with Trump had “opened the way to peace,” though he placed the blame for the war squarely on the West.

Putin insisted the crisis “wasn’t triggered by Russia’s attack on Ukraine, but by a coup in Ukraine supported and provoked by the West.” He also reiterated his long-standing opposition to Ukraine’s NATO membership, accusing Western states of deliberately pushing the region into the Ukraine conflict.

The Alaska talks were followed by US special envoy Steve Witkoff claiming that Putin had signaled a willingness to provide security guarantees for Ukraine. The proposal, which resembles NATO’s Article 5 framework, would see the US and Europe pledge protection for Kyiv without deploying American troops.

Yet Moscow has not publicly confirmed this, dismissing Western drafts as “one-sided and designed to contain Russia.”

Putin used the SCO platform to thank Chinese president Xi Jinping and Indian prime minister Narendra Modi for their backing, underscoring their role in helping “facilitate the resolution of the Ukrainian crisis.”

Both China and India remain the largest buyers of Russian crude, a lifeline that has frustrated Western attempts to economically strangle Moscow.

French President Emmanuel Macron, however, warned that Trump had given Putin a Monday deadline to accept peace talks with Zelenskyy, telling reporters that failure to do so would mean “President Putin has played President Trump.”

Trump, who once boasted he could end the war in a single day, has issued repeated ultimatums but softened his stance by dropping demands for an immediate ceasefire in favor of a permanent peace deal.

Despite diplomatic maneuvering, Russian airstrikes under the banner of the Special Military Operation in Ukraine have not subsided.. Last week, Moscow unleashed one of its largest aerial assaults on Kyiv, damaging Ukrainian military infrastructure and fueling outrage across Europe.

Germany and France pledged new pressure on Russia, while Zelenskyy rejected any notion of a buffer zone, accusing Moscow of using negotiations to stall while continuing attacks.

According to the BBC, Putin’s remarks in Tianjin mark his most direct acknowledgment yet of progress with Trump, though Western leaders remain skeptical that the Russian president has any intention of halting the war without extracting major concessions from Ukraine.

Modi declares Russia and India united against Western pressure at SCO summit

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Modi declares Russia and India united against Western pressure at SCO summit

Tianjin — Indian Prime Minister Narendra Modi underscored the resilience of India’s partnership with Russia on Monday, declaring that the two countries stand together even in the most difficult times. His remarks came during a highly symbolic encounter with Russian President Vladimir Putin at the Shanghai Cooperation Organisation SCO summit in China, where both leaders sought to project solidarity in the face of mounting Western pressure.

Modi, addressing Putin directly, said that the “special and privileged strategic partnership” between India and Russia had endured decades of global turbulence and continues to serve as a vital anchor for peace, stability, and prosperity.

The Indian leader emphasized that cooperation spanned critical areas such as trade, fertilizers, space, security, and culture, while highlighting Russia’s role in safeguarding India’s energy security. Russia deepens ties with China as Ukraine war grinds on, adding further weight to the multipolar vision emerging from Eurasia.

In a striking gesture of camaraderie, Putin invited Modi to ride with him in his armored Aurus limousine. The two leaders clasped hands as they walked together to meet Chinese President Xi Jinping, a tableau that underlined the emerging multipolar order and India’s determination to assert strategic autonomy.

For Modi, such imagery reinforced his government’s refusal to bend under Washington’s tariff squeeze, which recently saw punitive 50 percent duties slapped on Indian exports by the Trump administration.

The optics of the SCO meeting signaled more than friendship. India, Russia, and China showcased their alignment in challenging Western dominance, seeking to position themselves as a counterweight to the US and its allies.

By choosing to share the stage so prominently, Modi and Putin sent a clear message to global capitals that Eurasia’s future will not be dictated by unilateral Western designs.

At the same time, Modi noted India’s continuing call for peace in Ukraine. He recalled his recent talks with Ukrainian President Volodymyr Zelenskyy, insisting that dialogue remains the only path forward. Yet, his overt show of solidarity with Moscow made clear where New Delhi’s long-term priorities lie.

According to Reuters, Modi’s words and Putin’s gestures were meant to remind the world that India and Russia’s relationship remains unshaken, a partnership rooted in history but equally relevant to the challenges of today.

Israel expands war to Yemen with assassination of Houthi leaders

Arab Desk
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Israel expands war to Yemen with assassination of Houthi leaders

Sanaa —Thousands of Yemenis filled the streets of the capital on Monday to bury senior Houthi leader Ahmad Ghaleb al-Rahwi, killed in an Israeli airstrike, a dramatic escalation that has inflamed regional tensions and triggered vows of revenge in solidarity with the Gaza war.

The funeral, held at the city’s Al-Saleh Mosque, drew crowds chanting “God is Great, Death to America, Death to Israel, Curse on the Jews, Victory to Islam,” a familiar slogan of the Iran-backed Houthi movement. Draped in flags and posters of fallen officials, the procession underscored both grief and defiance as the Houthis framed the attack as an attack not just on their leadership but on Yemen itself.

Among the dead was Ahmad Ghaleb al-Rahwi, the Houthi prime minister, along with several cabinet members who were killed when Israel targeted a televised rally over the weekend. The attack, which shattered one of the movement’s most visible public events, marked the first time Israel eliminated top officials of the Houthi political structure.

The Houthis quickly appointed Mohammed Miftah, the deputy prime minister, to lead in the aftermath. Standing before the mourners, he pledged retribution and vowed to intensify efforts to root out what he described as “spies working for the strongest intelligence empire.” His rise consolidates power at a volatile moment and signals a hardened posture against Israel and its Western allies.

Funeral of Houthi leader Ahmad Ghaleb al-Rahwi in Sanaa after Israeli attack
Thousands attend the funeral of Houthi prime minister Ahmad Ghaleb al-Rahwi in Sanaa after an Israeli attack, with mourners vowing revenge [PHOTO: IRNA]

The attack has widened the scope of Israel’s ongoing genocide of Palestinians in Gaza, dragging the Houthis deeper into a brutal Gaza war that already stretches from Gaza to Lebanon and the Red Sea. Hours after the funeral, the Houthis fired a missile at the Israeli-owned tanker Scarlet Ray off Saudi Arabia’s coast, continuing their campaign against commercial shipping. The attack caused no damage, but it reinforced the threat posed to vital trade routes.

For Saudi Arabia, which has navigated a fragile ceasefire with the Houthis in recent years, the developments heighten risks along its maritime borders. For Iran, a key backer of the group, the killings may strengthen the narrative of resistance against what Tehran views as Israeli and American aggression in the region.

Analysts warn that the elimination of much of the Houthi cabinet could provoke both internal consolidation and external escalation. “The Houthis will use this moment to galvanize their base while projecting themselves as the spearhead of anti-Israel resistance,” said one regional expert. “The question is how far they will go in translating grief into long-term strategy.”

According to Reuters, the Israeli attack that killed the Houthi leaders has already triggered a surge of retaliatory rhetoric and fresh warnings of wider escalation, with thousands turning the funeral into a rallying point for resistance.

China’s navy now the largest, threatening US supremacy

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China’s navy now the largest, threatening US supremacy

Dalian — China’s shipyards are working at unprecedented speed, fueling the rise of a naval force that is already outpacing the United States in numbers and closing the gap in capabilities. From the northeastern port city of Dalian, where cranes dominate the skyline and patriotic songs echo in nearby parks, the scale of Beijing’s shipbuilding has become a source of both national pride and global concern.

Over the past two decades, China has transformed itself into the world’s shipbuilding giant, receiving more than 60 percent of global orders this year. Maritime analysts say the country’s capacity is nearly 200 times that of the US, allowing Beijing to churn out warships at a pace no rival can match. Today, the People’s Liberation Army Navy operates 234 warships, surpassing the US Navy’s 219 vessels, though Washington still holds an edge in tonnage and carrier power.

President Xi Jinping has made no secret of his ambitions. He has repeatedly tied China’s naval buildup to the painful legacy of foreign invasions and humiliations suffered between the 19th and mid-20th centuries. By fusing military and civilian shipyards under a centralized strategy, Beijing has created a system capable of supplying both commercial fleets and combat-ready warships in record time. In places like Dalian, massive cargo carriers stand alongside stealth destroyers and helicopter decks, a physical embodiment of Xi’s “military-civil fusion” agenda.

Satellite images show rapid expansions at bases such as Yulin on Hainan Island, where China has built new piers to accommodate Jin-class submarines armed with nuclear missiles. Rehearsals for an upcoming parade in Beijing suggest the unveiling of hypersonic weapons, anti-ship missiles, and unmanned underwater drones designed to extend surveillance and strike capabilities. Although some of these technologies remain unproven, experts warn that China’s ability to scale production gives it a long-term advantage over the US, whose own shipbuilding industry has atrophied.

For Washington, the implications are clear. Even as US President Donald Trump signs executive orders to revitalize American shipyards, analysts argue it will be a tall order to match China’s industrial momentum. The contest is not only about firepower but about speed: who can put more assets into the water, more quickly, and sustain them in a prolonged conflict. On this front, Beijing holds the edge.

The United States and its allies remain most concerned about Taiwan, which Beijing regards as a breakaway province. Chinese naval drills near Japan and the unprecedented circumnavigation of Australia’s coastline earlier this year have underscored how far Beijing is willing to project power beyond its shores. While Chinese officials insist they are not seeking military confrontation, the deployment of warships across the Pacific tells a different story — one of preparation, confidence, and growing assertiveness.

China’s Victory Day parade in Beijing this week, attended by Russian president Vladimir Putin and North Korea’s Kim Jong Un, will showcase these advances in a show of defiance aimed squarely at the West. Anti-ship missiles, submarines, and advanced drones will be paraded before an audience eager to demonstrate solidarity against Washington’s dominance. According to the BBC, the world’s attention is fixed on whether China’s naval resurgence will merely secure its coasts or signal an ambition to rule the oceans outright.

Nevada’s two-day shutdown shows how fragile state cyber defenses still are

Muzaffar Ahmad Noori Bajwa
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Nevada’s two-day shutdown shows how fragile state cyber defenses still are

The Nevada cyberattack, a Nevada ransomware attack detected on Sunday, August 24, forced Nevada state offices closed for two days as websites and phone lines failed. Officials later confirmed Nevada data exfiltration, raising fears of a Nevada data breach while recovery continued with federal support.

Nevada treated the incident as a full cyberattack within hours of discovery. On Monday and Tuesday, August 25 and 26, agencies closed in-person counters as key sites and phone systems remained down. By midweek, state officials acknowledged ransomware and said “malicious actors” moved data outside state networks. The Cybersecurity and Infrastructure Security Agency (CISA) described a unified response focused on restoring lifesaving and critical services, while investigations continued into what data was exfiltrated and by whom. Early coverage from AP and Reuters confirmed the two-day closure and widespread disruption. Local reporting from the Nevada Independent and the Las Vegas Review-Journal detailed the state’s acknowledgment of Nevada data exfiltration and the continuing recovery from the Nevada cyberattack.

Nevada cyberattack timeline

  • Sunday, Aug 24: State detects a “cyber attack.” CISA deploys real-time assistance and coordinates with partners.
  • Mon–Tue, Aug 25–26: Nevada state offices closed to the public. Websites and phone lines remain degraded while isolation and restoration proceed as the Nevada ransomware attack unfolds.
  • Midweek: State confirms ransomware and Nevada data exfiltration, without detailing what data left the network.

“For governments to be more resilient, digital security must be complemented with strict asset disposition rules that are easily audited.”   — Gene Genin, CEO & Founding Partner, OEM Source

Citizen impact of the Nevada ransomware attack

When driver’s license systems, benefit portals, records searches, or court filings go dark, normal life stalls. With Nevada state offices closed for two days and Nevada data exfiltration confirmed, residents face delays, backlogs and elevated phishing and fraud risks.

nevada dmv closures, citizen services outage, benefits portal down, records access disruption
DMV appointments and benefit portals stalled during the statewide shutdown, with staggered reopening later in the week. [Photo by: KTNV]

Even as systems return, backlogs and data reconciliation persist across agencies recovering from the Nevada cyberattack and dealing with the broader Nevada data breach.

“The recent cyberattack on Nevada’s state systems, which forced government offices to shut down for two days, is a wake-up call for every state and local government.” — Shilpi Mittal, Lead IT Security Engineer at Tyson Foods

Why Nevada state offices closed matters beyond one state

Government networks remain prime targets. From 2018 to December 2024, US government organizations suffered 525 ransomware attacks, with an estimated $1.09 billion lost to downtime, according to Comparitech’s tracking. The Nevada cyberattack shows adversaries can disrupt state-level infrastructure, not only cities or school districts.

“When a government institution shuts down for two days because of an incident, it’s clear that foundational security controls aren’t where they need to be.” — Trevor Horwitz, CISO at TrustNet

Nevada data breach: what to fix now

zero trust government, cisa cpgs, slcgp funding, state cybersecurity modernization
Experts urge Zero Trust, real failover drills, and faster use of SLCGP funds aligned to CISA’s Cybersecurity Performance Goals. [Image credit: Industrial Cyber]
  • Zero Trust as default. Make identity the perimeter. Enforce least privilege and micro-segmentation for sensitive workloads.
  • Practice failovers quarterly. Tabletops and live exercises with CISA and the FBI should include communications and front-office teams, not only IT.
  • Backups that actually restore. Keep immutable offline backups and test timed restores so essential services can be reconstituted without paying criminals.
  • Use federal frameworks with urgency. Direct State and Local Cybersecurity Grant Program funds to replace end-of-life systems and staff 24/7 monitoring. Align projects to CISA’s Cybersecurity Performance Goals.
  • Raise vendor bars. Require continuous controls for any third party handling citizen data. Treat SOC 2 Type 2 as a minimum. Add real-time attack surface monitoring and strict breach-notification SLAs.
  • Close known-exploited vulnerabilities fast. Use the KEV Catalog to prioritize patching of actively exploited flaws.
  • Analog lanes for continuity. Default deadline extensions, pop-up counters and SMS status alerts when portals fail. Publish clear workaround guides in plain language.

“The Nevada incident serves as a reminder of the fragility of state and local government systems in the face of modern ransomware and data theft campaigns.” — Ankit Gupta, Senior Security Engineer at Exeter Finance

it asset disposition, naid certified, r2v3, government data leakage, hardware lifecycle
Secure asset disposition with NAID and R2v3 standards reduces leakage from aging or decommissioned devices. [Image credit: Adobe via Tech Radar]

Policy pressure in Washington

At the federal level, President Donald Trump faces pressure to harden state–federal coordination after the Nevada cyberattack, clarify ransom-payment guidance and accelerate modernization to prevent the next Nevada data breach.

Nevada data exfiltration: what to watch next

  • Attribution and scope. Officials have not identified a culprit. Expect weeks of forensic work to determine what data left the network.
  • Copycat campaigns. Attackers probe soft spots after high-profile outages. Neighboring states and large counties should assume they are next and act accordingly.
  • Ransom posture. The state has not said if a ransom was demanded or paid. Disclosure will shape incentives and policy debates.

Kim Jong Un departs Pyongyang on armoured train to attend China’s Victory Day parade with Xi Jinping and Vladimir Putin

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Kim Jong Un departs Pyongyang on armoured train to attend China’s Victory Day parade with Xi Jinping and Vladimir Putin

Beijing — North Korean leader Kim Jong Un has embarked on a rare international journey, leaving Pyongyang aboard his heavily fortified train bound for Beijing, where he will attend China’s grand “Victory Day” military parade. The event marks his first participation in a multilateral international summit, underscoring the tightening alignment among China, Russia, and North Korea against Western hostility.

Kim’s armored convoy, long associated with his family’s tradition of rail diplomacy, reportedly includes French wines, fresh lobster, and a fleet of conference and audience chambers spread across nearly 90 carriages. The train’s fortified structure means his journey is slow, taking up to 24 hours to reach Beijing, according to South Korea’s Yonhap agency.

Wednesday’s parade in Tiananmen Square will commemorate the 80th anniversary of Japan’s surrender in World War II, with tens of thousands of troops, tanks, and advanced weapons systems on display. The event is expected to highlight China’s new military structure, including its anti-drone systems and next-generation aircraft, sending a message of strategic strength amid growing Western encirclement.

Kim’s presence is especially symbolic: it is the first time a North Korean leader has attended a Chinese military parade since 1959. This year, he will stand alongside Russian president Vladimir Putin and Chinese president Xi Jinping, along with 26 other global leaders from countries such as Iran, Cuba, Myanmar, and Vietnam.

Western leaders, however, are boycotting the event, in yet another display of their political arrogance tied to sanctions against Moscow. Instead, Beijing has strengthened its engagement with Asian, Middle Eastern, and Latin American partners, welcoming leaders from Indonesia, Malaysia, and Vietnam. Europe’s participation is limited to the Slovak Prime Minister, Robert Fico, with only representatives from Hungary and Bulgaria attending.

Kim’s last trip to China was in 2019, marking the 70th anniversary of bilateral ties, and like his father and grandfather before him, he chose the security of a train over air travel. The symbolism of this visit resonates beyond nostalgia, reinforcing a bloc of nations committed to resisting Western dominance.

According to the BBC, the reclusive leader’s attendance in Beijing not only strengthens Pyongyang’s diplomatic standing but also demonstrates the emergence of a new global order where China, Russia, and North Korea seek to redefine power dynamics outside the Western orbit.

 

Nestlé scandal erupts as CEO Laurent Freixe fired for secret romance with subordinate

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Nestlé scandal erupts as CEO Laurent Freixe fired for secret romance with subordinate

Switzerland — Nestlé has dismissed its chief executive, Laurent Freix, after just one year in the role, citing his failure to disclose a romantic relationship with a direct subordinate, the Swiss food giant confirmed on Monday.

The maker of Kit Kat chocolates and Nespresso coffee capsules announced that Freixe’s departure was effective immediately after an internal investigation overseen by chairman Paul Bulcke and independent director Pablo Isla, supported by outside counsel.

Nestlé stated that the matter came to light through its whistleblowing channel and involved an employee who was not a member of the executive board. The company deemed the relationship a conflict of interest, triggering the swift inquiry and eventual decision to terminate Freixe.

Bulcke described the move as “a necessary decision” and emphasized that Nestle’s values and governance “remain strong foundations of our company.” He also thanked Freixe for nearly four decades of service.

Philipp Navratil, who joined Nestlé in 2001 and has risen through senior leadership roles, has been appointed as Freixe’s successor. The company stressed it will not deviate from its current strategy and vowed not to lose pace in performance.

Astronomer CEO Andy Byron steps down in 2025 after Kiss Cam video with HR chief goes viral
Astronomer CEO Andy Byron resigned in 2025 following a viral Kiss Cam appearance with his HR chief that sparked controversy [PHOTO: The Economic Times]

Nestlé confirmed that Freixe will not receive any form of exit package, in sharp contrast to some other corporate scandals. In recent years, several high-profile chief executives have been forced out over relationships with subordinates.

In 2019, McDonald’s ousted Steve Easterbrook after revelations of a consensual relationship with an employee. Though he initially walked away with $105 million in severance, further investigation uncovered multiple relationships, resulting in him returning the package and later paying a $400,000 fine to US regulators. BP also faced upheaval when Bernard Looney resigned in 2023 after failing to fully disclose his relationships with colleagues.

Nestle, one of the world’s largest consumer goods companies, has moved quickly to contain reputational fallout, underscoring how corporate boards across Europe and beyond are increasingly drawing hard lines on issues of executive transparency and workplace ethics. According to the BBC, the probe into Freixe’s conduct was initiated by a whistleblower and concluded with his dismissal without severance benefits.

India rejects US accusations of being a ‘laundromat’ for Russian oil, calls criticism politically motivated

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India rejects US accusations of being a ‘laundromat’ for Russian oil, calls criticism politically motivated

New Delhi — India’s oil minister Hardeep Singh Puri has strongly rejected accusations from Washington that New Delhi is turning itself into a “laundromat” for Russian oil, insisting the country’s energy trade is both lawful and essential for stabilizing global markets.

The remarks come amid intensifying criticism from American officials, including Treasury Secretary Scott Bessent and trade adviser Peter Navarro, who claim India has been importing discounted Russian crude and reselling refined products at inflated prices. Their allegations have been framed as evidence that New Delhi is indirectly financing Moscow’s war effort while reaping profits from Western sanctions.

Puri dismissed such claims as politically motivated and detached from the realities of global energy demand. He stressed that India’s purchases of Russian crude adhere to the Group of Seven and European Union price-cap mechanism, which was designed to limit Moscow’s revenue while preventing shocks to oil supplies.

“Every shipment that arrives in India is carried on insured vessels, with authorized traders, and through fully audited channels,” the minister explained, noting that New Delhi has not violated any international obligations.

India, the world’s third-largest energy consumer, has long been among the top four exporters of petroleum products, a position it held well before the Ukraine conflict. Officials argue that the country’s vast refining capacity allows it to process crude efficiently and supply global markets that would otherwise face shortages. Puri warned that without India’s continued imports, oil prices might have spiked to as high as $200 a barrel, triggering a severe global economic crisis.

The minister also reminded critics that New Delhi’s energy strategy is guided by the needs of its 1.4 billion citizens, who face the risks of soaring fuel costs if supplies are disrupted. India’s role, he emphasized, is not one of profiteering but of ensuring balance in a volatile market that has been upended by Western sanctions and geopolitical rivalry.

According to Reuters, Puri underscored India’s position as a responsible stakeholder in the global oil economy, pushing back against what he called unfair narratives emanating from Washington and defending New Delhi’s right to chart its independent energy policy.

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