LIVE: Kremlin warns of cutting off gas supplies to more EU nations

Live news updates: Russia on Wednesday said that it is shutting off gas to two European Union nations, which have staunchly backed Ukraine

Live news updates: Meanwhile, the European Union held emergency talks after Russia on Wednesday said that it is shutting off gas to two European Union nations, which have staunchly backed Ukraine. The escalation came in a memo from state-controlled Russian giant Gazprom, which said it had cut natural gas deliveries to Poland and Bulgaria because they refused to pay in Russian rubles, as President Vladimir Putin had demanded. Kremlin spokesperson Dmitry Peskov further warned of cutting off gas supplies to other EU nations if they fail to make the payment in ruble.

External Affairs Minsiter S Jaishankar on Wednesday said that the best way to deal with the Ukraine conflict would be to focus on "stopping the fighting and getting the talking" to move forward." He added that India's position on the crisis is best placed to advance such an approach. 

Meanwhile at UNSC, India's Deputy Permanent Representative R Ravindra raised concern over the situation in Syria and said on the security front that there is an urgent need for genuinely serious attempts towards a comprehensive nationwide ceasefire in Syria.

On economic front, the surge in oil prices due to the Ukrainian war has pushed up inflation in India, which needs monetary tightening and measures to address structural weaknesses to improve growth potential, said a senior IMF official.

According to estimates, the country's economy is likely to grow at 8.2 per cent in 2022-23, down 0.8 per percentage points, said Anne-Marie Gulde-Wolf, Acting Director of the IMF's Asia and Pacific Department.

On Tuesday, Polish Foreign Minister Zbigniew Rau said the "burning" issue of Russia's aggression against Ukraine was one of the key topics of his conversation with Prime Minister Narendra Modi and External Affairs Minister S Jaishankar, adding Russia's "irresponsible actions" in Ukraine have trampled all the principles that underpin the world order.

11:47 PM

Jaishankar discusses Ukraine conflict with Portuguese counterpart

External Affairs Minister S Jaishankar on Wednesday discussed the progress of bilateral cooperation with his Portuguese counterpart Joao Cravinho and exchanged views on the Ukraine conflict.

 

"Good to welcome back @JoaoCravinho, now as FM of Portugal. Appreciate the strong and consistent support extended by Portugal in building our ties with the EU," Jaishankar tweeted after their bilateral meeting.

 

"Discussed the progress of our bilateral cooperation and exchanged views on the Ukraine conflict," he said.

 

 

 

11:30 PM

Militant killed, soldier injured in encounter in Pulwama

An unidentified militant was killed while a soldier was injured during an encounter in Jammu and Kashmir's Pulwama district on Wednesday, police said.

 

Security forces launched a cordon and search operation in the Mitrigam area of Pulwama following information about the presence of militants there, a police official said.

 

He said the search operation turned into an encounter after militants opened fire at the security forces.

 

In the exchange of fire, one militant was killed, the official said, adding that his identity is being ascertained.

11:19 PM

China, Russia, India, four others on US property rights 'Priority Watch List'

The United States on Wednesday placed India, China, Russia and four other countries on its annual 'Priority Watch List' for intellectual property protection and enforcement.

 

The other countries that have been put on the list issued by the Office of the US Trade Representative are Argentina, Chile, Indonesia and Venezuela.

 

All seven countries on this year's list were on last year's, too.

 

In its "Special 301 Report" on the adequacy and effectiveness of US trading partners' protection and enforcement of intellectual property rights, US Trade Representative Katherine Tai said these countries will be the subject of particularly intense bilateral engagement during the coming year.

10:52 PM

After Russia visit, UN chief Guterres arrives in Ukraine

UN Secretary General Antonio Guterres arrived in Ukraine on Wednesday to hold talks with President Volodymyr Zelenskyy, after his visit to Moscow where he met Russian President Vladimir Putin who agreed "in principle" to the involvement of the UN in evacuation of civilians from the Azovstal plant in Mariupol.

 

"I have arrived in Ukraine after visiting Moscow. We will continue our work to expand humanitarian support & secure the evacuation of civilians from conflict zones. The sooner this war ends, the better for the sake of Ukraine, Russia, and the world," Guterres tweeted.

 

Guterres and his team travelled from Rzeszow, Poland to Kyiv, Ukraine.

 

On Thursday, he will meet Zelenskyy and Foreign Minister Dmytro Kuleba and is also expected to make a field visit.

10:36 PM

Thackeray urges people to follow Covid rules to stop possible 4th wave

Maharashtra CM Uddhav Thackeray appeals to people to use face masks when outdoors and take necessary precautions to restrict a possible fourth wave of the pandemic at the doorstep and prevent it from entering the state. Read more

10:12 PM

US goods trade deficit jump 17.8% to a record high in March

The U.S. trade deficit in goods widened to a record high in March, jumping 17.8% to an all-time high of $125.3 billion. Imports of consumer goods vaulted 13.6%, while those of motor vehicles increased 12.0%. Read more

 

9:44 PM

Indian Hotels turns report Rs 72 cr profit in Q4 against a loss last year

Tata group hospitality firm Indian Hotels Co (IHCL) reports a consolidated net profit of Rs 71.57 crore in the March quarter against a consolidated net loss of Rs 97.72 crore in the same period of the previous fiscal. Read more

9:39 PM

Telangana rejects PM Modi's call to cut VAT on petrol and diesel

The Telangana government rejected the Centre's demands to reduce VAT on petrol and diesel in the state, saying it did not hike the tax in last seven years. The Value Added Tax (VAT) on petrol in Telangana is 35.2 per cent while it is 27 per cent on diesel. Read more

9:35 PM

Sanctions can have unintended results in interconnected world: FM

In an interconnected world, sanctions can have unintended consequences, and India is trying to work through them, said Finance Minister Nirmala Sitharaman. 

Sitharaman's statement comes in the backdrop of economic sanctions, which have led to a fall in bilateral trade with Moscow, imposed on Russia by the US and European Union following the invasion of Ukraine in February this year. Read more

 

9:25 PM

Bajaj Auto Q4 net up 10% YoY to Rs 1,469 cr, revenue declines 10% to Rs 7,975 crore

Net profit at Bajaj Auto for the March quarter rose 10 per cent year-on-year to Rs 1,469 crore from Rs 1,332 crore last year. Revenue from operations at the Pune-based firm declined 10 per cent YoY to Rs 7,975 crore from Rs 8,596 crore a year ago. Read more

9:07 PM

Options for Poland and Bulgaria as Russia halts gas supply

Russia's Gazprom has halted natural gas supplies to Poland and Bulgaria as Moscow presses its demand for payment in roubles by countries it deems "unfriendly". Now, what are the options for Poland and Bulgaria? Read here

9:04 PM

US FAA likely to maintain highest safety rating for India

US aviation watchdog FAA has completed the audit of India’s aviation regulator DGCA and as per sources, it is is likely to maintain a Category 1 status rating under its International Aviation Safety Assessment (IASA) programme. Read more

8:39 PM

Ruble over 2-year high vs euro as Russia cuts off gas supplies

The rouble soared to a more than two-year high against the euro in Moscow trade on Wednesday, supported by existing capital controls and upcoming income tax payments, after Russia upped the ante in a gas dispute with Europe. Read more

8:18 PM

Russia warns of cutting off gas supplies to other EU nations

Kremlin spokesperson Dmitry Peskov warns of cutting off gas supplies to other European Union customers if they refuse to pay in rouble, a news report said. Read more

8:14 PM

Delhi sees 1,367 new Covid-19 cases; positivity rate at 4.50%

Delhi reports 1,367 fresh Covid-19 cases and one fatality, while the positivity rate stood at 4.50 per cent. It is the sixth consecutive day that the national capital recorded over 1,000 new cases in a day. Read more